Unako Saving and Credit Cooperative
With the support of Her International, the Unako Co-op was established on March 27th, 2014. The founding members were 27 women (among them 25 were ex-bonded) from 5 different Mothers Groups.
The Co-op was launched as a solution for women wanting a loan that did not have collateral to go to a traditional bank. It also introduced the concept of saving and earning interest.
The Co-op start-up was financed with money from the founding members - no seed money was provided. The members raised 54,000NPR ($500USD) to launch the initiative. There are 859 members.
As of April 2019:
Total Amount: 13,973,908.90 NPR
Total Loan: 13,507,000.00 NPR
Balance in Bank: 466,908.90 NPR