Municipal Savings and Loans Banks to Offer Financial Services for Women
The CMAC System employs almost 10,000 women, 87% of them in living provinces and 54% of them in the 30–45 age group.
As part of the FEPCMAC Corporate Project: “Challenges & Opportunities for Women under a Financial Inclusion Approach,” which is implemented with the support of CAF—development bank of Latin America—we have considered working internally with collaborators following a gender equality corporate policy for the Municipal Savings and Loans Associations (CMAC) System. Noteworthy is that the System employs almost 10,000 women, 87% of them in living provinces and 54% of them in the 30–45 age group.
On the external customer side, work will be developed directly on the design of specialized financial services for women, and thus, the following aspects will be part of the strategy:
- International Financial Product Benchmarking for the women segment in microfinance institutions in the region in savings, loans and micro-insurance.
- Definition of features of the ideal products and services for women, after conducting customer journey studies on profiles of the existing customer base.
- Identification of marketing and financial services channels.
Thus, CMACs continue to jointly adopt international standards and reaffirm their commitment to reinforce the application of the user approach in the design of specialized financial services with the main objective of providing innovative solutions for a segment that accounts for 50% of their customer base.
Financial inclusion is an important factor for empowerment and economic autonomy of women, insofar as it allows them to expand their possibilities for productive, personal and family development. Through technical assistance, knowledge generation and funding, CAF advances comprehensive actions to promote the well-being of all Latin Americans.
CAF's more recent content
CAF, ECLAC, IDB and PAHO Promote Sustainable Development in the G20
The Regional Organizations of the Americas congratulate Brazil on its successful G20 Presidency, highlighting its leadership on key issues such as poverty, governance, and climate change. They also reaffirm their commitment to actions that promote equity and development in the region.
Urgent Call for Action to Safeguard Caribbean SIDS at CAF Symposium
As the global community grapples with the escalating climate crisis, Caribbean Small Island Developing States (SIDS) are running out of time to secure critical investments and support needed to strengthen their economies and protect vulnerable communities from the intensifying impacts of climate change. With the window to take decisive action rapidly shrinking, CAF - Development Bank of Latin America and the Caribbean, in partnership with the Commonwealth Secretariat and the Antigua and Barbuda High Commission, brought together key stakeholders for a symposium in London to address the critical vulnerabilities Caribbean SIDS face.