Remaining faithful to its mission to be near to its member-borrowers in rural areas, “Farm Credit Armenia” UCO CC continues its branch expansion strategy, thus, delivering its services (agricultural loans and leasing) more efficiently and playing an important role in maintaining and expanding rural economies. In December, 2012 “Farm credit Armenia” UCO CC opened two branches in Ararat and Armavir regions.
Heretofore, FCA had a representative office in Masis city, Ararat region that was transferred into a branch.
The new “Ejmiatsin” branch in Armavir region will serve the villages of Ejmiatsin community. The opening of second branch in Armavir region is justified by the fact that 38% of total loan portfolio is concentrated in that region having more than 1000 member-borrowers.
At the same time Vayots Dzor branch started operating in Yeghegnadzor city covering the regions of Vayots Dzor and Syunik.
The opening of new branches will contribute to further growth of the organization and attraction of new customers. FCA branch expansion in rural areas will support local economic development and growth by supplying funds to local rural businesses.