Accessible Finance Activity

Expanding Remote Financial
Access Using Digital Channels
January 2017 - January 2020


Project Overview

Creating economic prosperity for all of Haiti’s citizens remains a challenge today. Haiti is the poorest country in the Western Hemisphere, with 59 percent of the population living below the national poverty line of US $2.41 per day, according to the most recent household survey (2012), and only 13 percent of the labor force in the formal sector. Despite this, World Council of Credit Unions’ (WOCCU) experience in Haiti demonstrates that Haitians do have money to save, even if deposits are small. However, accessing financial services poses another layer of challenges. Reaching a financial institution requires paying high transport costs, as services are several hours away and concentrated in the main cities. Furthermore, financial institutions often lack liquidity and the capital needed to introduce new products and services tailored to both meet client demand and attract new clients to the sector.

WOCCU has been working on increasing financial inclusion in Haiti for over nine years. This effort has culminated in the Accessible Finance Activity, funded by the United States Agency for International Development (USAID). This program supports both USAID’s objective of promoting a stable and economically viable Haiti, and the Central Bank of Haiti’s goal of creating a financially and economically more inclusive society by ensuring the greatest possible access to savings, credit, and other financial products and services. Building on knowledge gained under USAID’s previous financial inclusion project, HIFIVE implemented by WOCCU, the Accessible Finance Activity tackles financial access challenges through two primary objectives:

Objective 1: Expand financial services and products to rural areas through established groups and digital financial services (mainly field officer banking methodology).

Objective 2: Sustainably address liquidity and capital challenges faced by microfinance institutions (MFIs) and credit unions.

Under objective 1, WOCCU is piloting its Field Officer Banking methodology—developed and tested in several Latin American countries—with CPF, SOCOLAVIM and LE LEVIER federation of credit unions in Haiti. Through field officer banking, branded as Kes Pam Pi Pre’m (KPPP) in Haiti, or ‘My Credit Union Close to Me’ in English, Rural Agents from formal financial institutions use motorbikes to reach rural areas, bringing financial services through smartphones or tablets with portable printers. 

Rural Agents meet with members in person to collect deposits, process loan applications and payments, and sign up new members. Utilizing digital channels reduces transaction costs for both clients and financial institutions and increases transparency through digital receipts. With direct access to accounts through the smartphone or tablet, financial institutions can offer clients individual accounts, rather than the traditional group accounts and guarantees—enabling clients to have a direct relationship with financial institutions to start building credit history and access an array of products that meet their individual needs.

Under objective 2, WOCCU addresses liquidity and capital challenges faced by MFIs and credit unions through savings and investment mobilization. The program is working with the national association of credit unions, Association Nationale des Caisses Populaires haïtiennes (ANACAPH), an affiliate member of WOCCU, to identify and recommend client-driven deposit products, policies, and mobilization strategies. WOCCU is also partnering with SSG Advisors/Resonance to pilot its Sustainable Investment Facilitation Toolkit (SIFT) with FINCA Haiti to support capital-raising efforts.

Quarterly Update (July 2019)

In FY 2019 Q3 (April 1 to June 30, 2019), despite the political and social unrest, KPPP service continued. As of June 2019, KPPP pilot credit unions are serving 128 groups with 2,031 members, of which 57.3% are women. Use of services through the groups continues to rise, as loans outstanding increased by 24% in this quarter and savings increased by 39%.

Although the Artibonite region, particularly Marchand Dessalines where the project operates, was negatively affected by periods of unrest, rural agents continued to deliver the financial education program where possible. To date, the financial education program has reached 61 groups, out of which 45 have achieved the second level of training. Between December 2018 and June 2019, 816 people have attended financial education sessions. Women’s participation in these sessions totals 59% at the end of this quarter and is particularly significant in the North, with 66% participation in that region.

Despite travel difficulties in the program’s target zones, this quarter, Accessible Finance conducted a mid-term assessment of KPPP field officer baking activities in the North and Artibonite. The assessment utilized surreys to better understand participant satisfaction levels at the mid-point of the KPPP activity. Results did not outline any discrepancies between existing credit union products and KPPP beneficiaries’ financial service needs. Beneficiaries are still in the process of learning about financial services. The assessment findings revealed that improving the processing of loans should be prioritized.

This quarter, Association Nationale des Caisses Populaires Haïtiennes (ANACAPH) completed the second part of a training program for credit unions to strengthen their marketing, product development, and customer service skills. By the end of 2019, year 3 of this activity, participating credit unions are expected to have marketing and communication plans for their new products. Trainings will resume in FY 2019 Q4, as mobilizing credit unions for the sessions was challenging due to the unrest in the country.

Credit Unions in Haiti (2017)

  • 84 total credit unions
  • 912,806 members
  • USD 117,894,560 in assets

Funded by