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About Us

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Overview

Fundefir, The Foundation for Rural Finance, is a Venezuelan organization that is innovatively addressing the financial needs of the poor. Fundefir establishes communal banks, which are banks run by community residents to serve their local financial needs. By creating an integrated financial service rather than solely providing credit, Fundefir gives bank members simultaneous access to savings, investment, and credit.

Mission

With the mission of stimulating investment and providing credit opportunities, Fundefir has established a network of over 80 communal banks. These banks transform community financial and human capital resources into high quality financial services.

Program

Fundefir's approach of communal banking is helping organize thousands of poor throughout Venezuela to form small banks and reap the resulting financial benefits. Fundefir's model is also distinguished by its specific innovations, which include using community residents’ savings to finance loans, providing loans for a variety of purposes, serving both genders, disbursing dividends, and building human capital in communities. This microfinance model is a new and highly effective approach to grassroots economic development.

Impact

Without Fundefir’s involvement, it would be difficult if not impossible for community residents to access savings, investment, and credit services. Additionally, bank members benefit from enhanced financial literacy and leadership opportunities offered by the communal banks.

Countries

Venezuela

Countries

Calle los Almendros, C.C. Bayside
Oficina 1-41
Porlamar, Isla de Margarita, 6301
Venezuela
Phone: (+58) 295-2624855
http://fundefir.org.ve
A project of Sucede (EIN: 51-0460145)


Education

Opportunity

Equip A Bank

Computer for finances

Your gift will help purchase a computer for a communal bank. The computer will be used to manage and computerize the bank’s finances, in particular its investment and loan portfolio. With a computer, the bank will be able to use software designed by Fundefir to keep track of all activity – deposits, loans, loan repayments, dividends, etc. This program will help alert bank leaders to...

$25.00

Start A Business

A new beauty salon

Your gift will help Fundefir teach a woman to open a beauty salon. Many women have the necessary skills to work in a beauty salon (such as knowing how to cut, style, and dry hair, as well as give manicures and pedicures), but lack the business know-how to open their own. With your gift, Fundefir will teach a woman to open her own salon, allowing...

$10.00

Help Start A Bank

Giving loans to others

Your gift will be used to help establish a new communal bank, run by community residents to serve their local financial needs. The communal bank is an integrated financial service, giving bank members simultaneous access to savings, investment, and credit. To establish each bank, a Fundefir employee works with a small group of five community members. The local bank leaders achieve community buy-in, convincing family...

$10.00

Computer Literacy

2 hours training

Your gift would allow a Fundefir employee to spend two hours giving a training session to community residents on basic computer programs and functions. This would allow both local youth and adults who rarely use computers to learn how this technology can improve their lives.

$10.00

Teach Microcredit

Financial literacy

Your gift will be used to help teach a group of approximately 100 people financial literacy. This service is provided through Fundefir’s communal banks, and is oriented to teach the poor how to most efficiently use and invest their money to improve their financial opportunities. Fundefir will use your funds to educate the poor about finances, thereby changing their mentality and approach to money. With...

$10.00

Teach Finance

Training for 100

Your gift will be used to teach a group of approximately 100 people financial literacy. This service is provided through Fundefir’s communal banks, and is oriented to teach the poor how to most efficiently use and invest their money to improve their financial opportunities. Fundefir will use your funds to educate the poor about finances, thereby changing their mentality and approach to money. With this...

$50.00

Give the Poor A Bank

One communal bank

Your gift will be used to help establish a new communal bank, run by community residents to serve their local financial needs. The communal bank is an integrated financial service, giving bank members simultaneous access to savings, investment, and credit. To establish each bank, a Fundefir employee works with a small group of five community members. The local bank leaders achieve community buy-in, convincing family...

$100.00