The Association of Rural Savings and Credit Institutions (AIRAC), which brings together the country’s leading cooperatives with assets of around RD $ 90,000 million, celebrates 30 years supporting the development of the solidarity economy in favor of the communities.
When offering the information, the president of the entity, Alfredo Dorrejo, stated that the institutions affiliated to AIRAC ratify their adherence to the best practices of the financial market, as well as to the provisions, regulations and laws applicable to the activity and controls related to the prevention of money laundering.
“As evidence of the above, we have an agreement with the Financial Analysis Unit (UAF), with which, in addition to supporting the authorities to combat money laundering, we serve as an example for the system,” said Dorrejo.
At the end of 2020, the cooperatives that make up the AIRAC system presented assets for an amount of RD $ 89,523.7 million and a loan portfolio amounting to RD $ 59,444 million, promoting agriculture, commerce, industry, consumption, transportation and development of the house.
“With 198 branches or service points, our cooperatives serve more than 1 million members throughout the national territory, to whom we express our deep gratitude for the trust placed in each of the cooperatives that make up the AIRAC system”, Dorrejo stressed .
AIRAC represents in the Dominican Republic the World Council of Cooperatives and the German Confederation of Cooperatives, organizations with which it collaborates to provide the Dominican cooperative system with access to the most advanced management tools, training and proven experience.
“During these 30 years, we have not only provided our associated cooperatives with the necessary support to enable the growth and development that they exhibit today, but we also guarantee that they will not be alone in the challenges that each new day presents themselves,” Dorrejo highlighted.
The integral entities of the AIRAC system are Coopsanjose, Mamoncito, Coopbueno, Coopmedica, Coopsano, Coopglobal, Coopempresarial, La Candelaria, Coopcentral, Coopmaimon, Coopunion, Coopacrene, Cootralcoa, Coopsanrafael, Cooporiental, Coopeclofaspire.
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