Banco de Ahorro y Credito Fondesa (Banfondesa)
Banco de Ahorro y Crédito FONDESA, SA (BANFONDESA) is a bank regulated by the Superintendence of Banks of the Dominican Republic, which has a business model focused on microentrepreneurs, small-scale rural producers, low-income families, as well as urban and rural labor groups. It was created by the Development Fund, Inc. (FONDESA), and began operations for the public on May 1, 2015, giving continuity to the tradition of financial attention to low-income segments, with the motto: “The Bank of the Family and Microenterprise ” .
BANFONDESA has national coverage in the Dominican Republic, and offers its urban and rural clients various products and services, both microfinance and non-financial, through an extensive network of 59 branches located throughout the national geography.
BANFONDESA's financial offer has been designed according to the needs of its main markets, helping its clients to generate investment capacity, productive income, and improve the quality of life of families.
BANFONDESA enjoys a leading position in the Dominican rural market and the border with the Republic of Haiti; It is the main microfinance bank in support of agriculture, and a large part of its clients reside in rural or semi-urban areas.
The service strategy used allows BANFONDESA , through its commercial force composed of experienced Business Officers, to deliver the service to the client in a personalized way at any time and place where it is located.
Being faithful to the Mission and Vision that gave rise to it, BANFONDESA provides financial access to the popular classes with the service of savings accounts, financial certificates, term deposit certificates, and secured deposit loans. Likewise, it supports microenterprises, agricultural producers, rural non-farm MSMEs and low-income Dominican families with loans to cover basic family needs for health, education, housing, food and recreation.
BANFONDESA adheres to the Principles of Client Protection, practices responsible finances and has a social commitment to the banking and financial inclusion of the popular majorities of the Dominican Republic. It is affiliated with the Association of Savings and Credit Banks and Credit Corporations of the Dominican Republic (ABANCORD), and the REDCAMIF and REDOMIF consortiums. It also maintains important strategic alliances with universities, specialized study centers, development institutions, local community entities and national and multilateral resource providers.See more