“Farm Credit Armenia” credit cooperative has started cooperation with “Fed Invest” Albanian Financial Cooperative


The working team of “Farm Credit Armenia” credit cooperative had a four-day’ visit to Albania. The purpose of the visit was exchange of experience with “Fed Invest” agricultural credit cooperative conducting similar activity in Albania. During the four days of the visit the employees of the two organizations presented to each other the principles of organizing their activity and their own experience in promoting the model of a cooperative enterprise, discussed the existing problems, and their ideas in connection with further development.
The issues related to automation of business processes through application of information technologies and to efficient development of the branch network were emphasized.
Farm Credit employees had the opportunity to visit a number of Fed Invest’s regional and rural branches and observed organization of the branches’ activity on site.
Albanian “Fed Invest” credit cooperative is very similar to “Farm Credit Armenia” credit cooperative with its mission, structure and manner of working. “Fed Invest” credit cooperative was founded in 1992. In the course of 24 years of its activity it managed to become the largest agricultural credit cooperative in Albania. Currently, “Fed Invest” credit cooperative has about 40,000 shareholder members and successfully services the credit needs of the latter, namely – provides loans and accepts deposits.
“Farm Credit” employees visited also “Noah” credit organization acting in Tirana, the capital of Albania, studied their experience with usage of information technologies in the field of lending, discussed the modern approaches to automation of business processes. Armenian “Farm Credit” and Albanian “Fed Invest” credit cooperatives agreed to continue their cooperation and organize mutual visits in the future, implement joint educational and training projects, hold events aimed at development of the cooperatives.

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