SISTEMA FEDECRÉDITO is recognized as the sole banking organisation in the country of Salvadoran ownership with the highest coverage of municipalities. It therefore has a strong brand image that resonates with the pride of Salvadorians. With more than 78 years of service, it has a leading position serving the base of the pyramid population. It also plays a crucial role in El Salvador’s extensive efforts toward bancarization and financial inclusion of low-income populations.
Present in all 14 departments of the country through FEDE PUNTOS VECINOS outlets that provide financial services on behalf of member institutions. 234 FEDE PUNTOS VECINOS have been implemented. It is now present in 196 of the 262 municipalities of the country (74.81% of El Salvador). There is a service point every 20 km (505 in total). Up until December 2016, there had been 5.4 million transactions (194.89 million dollars in total and with an average transaction amount of 35.2 dollars).
Thanks to greater access to financial services, Salvadorians benefit from improved financial inclusion and are able to take advantage of credits, deposits and the collection of remittances. Greater financial protection of the unbanked populations is now possible thanks to the implementation of a service based on Fedecredito’s agent banking scheme Fede Puntos Vecinos.
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