Guatemala

Project Overview

Utilizing a Worldwide Foundation for Credit Unions' Rally the Movement grant, WOCCU is working in close collaboration with FENACOAC, its direct member organization in Guatemala, to implement a rural savings mobilization strategy with five credit unions affiliated with FENACOAC's MiCoope System: Acredicon, Tonantel, Coosajo, Ecosaba and Cosami.

Continuing to serve the most vulnerable, rural-based women in Guatemala is one of the major areas of focus for WOCCU Global Programs. This is important because rural financial inclusion in Guatemala is only 17%. Overall, there are 18 million Guatemalans, but only 37% of them have access to formal financial services.

However, a WOCCU market survey found that 91% of the population in rural areas recognizes MiCoope cooperatives, which have 2.7 million members across the country, about half of whom are women. 

WOCCU will train MiCoope credit union advisors to become mobile agents who conduct group-based sales and tailor financial products to meet the specific needs of local communities, emphasizing the benefits of a structured low-ceiling savings plan. This group-based approach promotes peer-to-peer learning, encourages mutual support and scales services more efficiently.

This effort builds on the work of WOCCU's Accelerating Growth and Inclusion in Lending for Credit Unions (AGIL4CU) Project (2024-25), which was funded through the USAID Cooperative Development Program (CDP), in Guatemala, Burkina Faso, Kenya and Senegal.  

Before AGIL4CU, WOCCU and MiCoope previously worked together as part of the USAID-funded Technology and Innovation for Financial Inclusion (TIFI) Project (2018-24) to establish the nation’s first credit union service organization (CUSO). “CREDIPYME” was established to provide loans to members whose businesses grow into registered corporations—something credit unions are not legally allowed to serve. Owned by a group of more than 20 credit unions, the CUSO makes it legally possible to continue working with members as their businesses grow and in the cooperative spirit of safeguarding their financial needs. 

Credit Unions in Guatemala

• 425 total credit unions
• 2.7 million members
• USD 4.3 billion in assets