MFIs in Russia

Microfinance institutions in Russia take various forms, and in this section we plan to distribute information about some of the more successful organizations in microfinance and best practices that can be shared with other institutions.

The RMC would be happy to post information about your organization. Please send an email to info@rmcenter.ru with an update on your recent successes.

Association of Credit Unions Supports Growth of Microfinance in Central Russia

The Association of Credit Unions of the Central Region (ACUCR) was registered in the city of Dubna in the Moscow region on October 28, 2002.

ACUCR began financial operations on July 1, 2003. Six credit unions (credit consumer cooperatives of citizens) of the Moscow region: "Ekran", "Nadezhda", "Vera", "Maria", "Shans" and "Kupina" currently make up the Association's membership. The Association Board has received applications for membership from the credit union "Rozhdestvensky" (Kostroma, Yaraslavl region) and from the credit union "Mir" (Vladimir). Members of the ACUCR can receive a computer software developed by the credit union "Alternativa," which provides both automated services for shareholders (applications for credit union membership, membership fees payment, receipts of deposits), and compiles reports on the movement of financial resources. The Association also trains loan managers to use the software. The Association's future plans include developing its own internet site and building a training center for the credit unions of the central region in the town of Dubna.