INVESTMENT FINANCING, CREDITS AND SAVING FOR ECONOMIC STRENGTHENING (FINCAFE)

In addition to UCEPCO, CEPCO administers a number of microcredit and savings funds intended to capture the saving generated by the projects, provide support to small projects via loans, as well as prevent members from falling into the hands of loan sharks when face serious problems such as illness or the death of a family member, the purchase of school supplies, etc.

Following the enactment of the Law of Popular Savings and Credit (Ley de Ahorro y Crédito Popular, LACP) CEPCO saw both the opportunity and the need to initiate a process of regularization of microcredit and savings programs that were being handled through various programs such as FIDUCEPCO, IDB WOMEN-etc. It was then that it was decided to build FINCAFE.

FINCAFE was registered as a Civil Corporation on the 27th day of the same month and year. Its task was to move forward in meeting the requirements and preparing the conditions to becoming a People's Finance Corporation (Sociedad Financiera Popular, SOFIPO) under the new LACP. The business purpose or mission that CEPCO assigned this financial institution was to provide financial services for the self-managed development of rural communities in Oaxaca.