In charge of providing technical and financial support to federated savings and credit cooperatives (CECs), the Federation of Haitian Credit Unions (FECAPH), comprising 38 federated caisses and 3 user caisses, organized on Saturday, April 13, in progress. the Marriott Hotel, its 12th General Assembly in a warm atmosphere. It is an annual meeting where the different member banks meet to inquire about their network and discuss issues of general interest. During this 12th General Assembly, the seven-member FECAPH Board of Directors presented the activity and outlook report, the network's financial statements and the budget for the current fiscal year.
"We have achieved some spectacular results. The network's assets grew by 24% compared to 2016-2017, from 1.4 billion to 1.8 billion gourdes. A distribution of rebates amounting to 111 million gourdes was granted to the member caisses. The network has recorded a surplus of 416.67 million gourdes, "said Richard Bercy, chairman of the board of Le Levier network, noting that the number of service points of the caisses now goes from 77 to 83 and the members network from 706,000 to 789,400.
On the financial situation of the FECAPH, the chairman of the board of directors reports an increase in deposits. Indeed, he says, savings grew by 28% to reach the level of 1.5 billion gourdes as of September 30, 2018. "FECAPH's holdings grew by 9% for the year and is 116.9 million gourdes. This increase results from an increase in reserves and the stabilization fund. The level of capitalization of the federation increased from 7% to 6% during the year in question. As for the federation's credit portfolio, it fell by 36% and represented less than 1% of total assets, "said Richard Bercy.
Balance sheet of 38 federated funds
At September 30, 2018, the consolidated assets of the 38 federated caisses reached the level of 9.6 billion gourdes, an increase of 26.21% over the previous year. In terms of availability, the federated funds have 3.4 billion gourdes. The liquidity ratio of the 38 caisses of the network is around 49.10%. The gross credit portfolio of the federated funds represents 59.30% of the total assets and amounts to 5.6 billion gourdes, ie a volume increase of 1.2 billion gourdes. "The allowance for doubtful debts is around 273 million gourdes and the rate of delinquency of the federated caisses went from 8% to 7.7%. The savings of members represent 6.9 billion gourdes, a growth in terms of volume of 1.5 billion gourdes, "reads in the booklet presenting the annual report.
Some concerns and difficulties
Although satisfied with the results obtained for the 2017-2018 fiscal year, Le Levier network managers are worried about the frenzied depreciation of the gourd. "The discount of the gourde being a factor of influence on the behavior of the households calls us first and foremost. If urgent and appropriate measures are not adopted and implemented, the network's funds will have suffered short-term technical losses, "complains Federation President Richard Bercy, noting that there is no doubt that the It is time for strict discipline and improvement of strategic arrangements for the protection of members' deposits.
In terms of difficulties, the Le Levier federation struggles to fully enjoy the benefits of interconnection because of the poor quality of the Internet offered by the operators of the place. Some caisses record cases of fraud and theft. The chairman of the board of directors highlighted the loss of human resources with the departure of some key executives. He revealed that since the events of July 6 and 7, 2017, people are hoarding their money and do not opt too much for savings.
Projects and perspectives
The Le Levier federation has signed two agreements with the French Development Agency (AFD). The first is the creation of a credit line for the financing of agricultural enterprises by credit unions with a budget of two million euros. The Partnership Framework provides for the creation of new products related to agricultural finance.
Benefiting from the support of the "Finance for All" project, the network has made arrangements for the caisses to provide proximity services to members. Indeed, the program entitled KPPP (Kes pa m pi pre m) has been designed. A pilot experiment underway in this program in two cooperatives: Caisse populaire Fraternité (CPF) and SOCOLAVIM (Cooperative Lavi Miyò). In addition, the "Finance for All" project will help the network's caisses to use intermediaries to provide an approximate service to members.
"The network is making efforts and seeking to diversify its sources of revenue so that the full weight of operation does not fall on the federated funds. We have agreements with partner organizations. The federation and the caisses earn income under these agreements, "said Jocelyn St-Jean, director general, adding that the remaining budget that is of the order of 3 million gourdes are used to fund the caisses to they can strengthen their basic structures.
The network has a new five-year plan for strengthening the federation in terms of governance, improving the quality of member services, modernization, etc.