Finance

Savings and Loan Department

Currently Neuland Cooperative has 861 active members.

One of the primary objectives of the Savings and Loan Department is to find favorable credit options for the members so that these can improve their economic situation—and consequently also their quality of life. Special importance is attached to the agricultural and livestock production.

Favorable loans are being made available on the one hand, but it is also possible to open profitable savings accounts.

The cooperative in Neuland fosters progress through the loans that are made available to its members, creating better production possibilities under more favorable conditions. The members' delay rate of the loan repayment is quasi zero, proving that the members also feel very indebted to the progress of their cooperative.

The procurement of funds from AFD (Agencia Financiera del Desarrollo = Financial Development Agency) in the last few years led to a strong increase in loan allocations. The so-called AFD loans were mostly invested in livestock farming, leading to an increase in the production areas and in the number of head of cattle and consequently contributing to a positive effect on the overall economy in Neuland.

Since livestock farming as a rule only slowly brings a return on investment, the challenge for the cooperative remains to keep on procuring money at long term for its members.

It is revealing that ca 90% of the credits granted flow into investments in livestock farming (fences, corrals, reservoirs and water lines, pasture, cattle etc).

High temperatures and irregular rainfalls make investments in agriculture a higher risk. That is why they have also gone down somewhat the last few years. In spite of that the cooperative continues to try to support this sector with favorable loans.

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