Institutional Action Plan Raffle Winner: Banco Adopem

Congratulations to this week’s winner of the Raffle for Institutional Action Plan Submitters!

Banco Adopem

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Since its founding, Adopem has shared best practices at a national and international level with other institutions in the microfinance sector. The bank has provided training to the formal sector and the MFIs in the country on microcredit technologies and financial education with the assurance that better client customer service will improve the market and will have a greater impact on strengthening client-geared services. Adopem supported and led the creation of the Dominican Microfinance Network, and also participated in  other national networks, such as Solidarios, Alianza ONG, as well as international networks like Women’s World Banking.

Adopem continues to seek new ways of reaching clients on a large scale in order to educate them on how to effectively manage their budgets, and safeguard improvements in their lives. Their children’s education and development have played a  role in major institutional contributions. Adopem’s value chain program and access to funding for agricultural SMEs goes beyond providing credit service, especially in rural areas. The bank implemented the Programa Pasión por el Servicio (“Passion for Service Program” in English), which seeks to improve the service they provide to clients.

Adopem signed on to the Smart Campaign Client Protection Principles, fully committing to fulfilling all of its principles and goals.

The Bank has 194,939 savings accounts, of which 10,095 accounts belong to the program La Cuenta Mía (“My Account Program” in English), which is aimed at encouraging saving among children and teens. The program pays out 500 to 600 credits per day, sells 1,000 voluntary insurance plans per month, and pays 2,000 remittances, providing additional banking services to 10% of these clients.

Adopem is also pleased to inform that it has been able to provide additional banking services to more than 3,000 remittance receivers via savings accounts, financial certificates, and microinsurance.

Banco Adopem’s main commitment lies in its philosophy of continuing to combine social and economic aspects in an effective manner.