Causes: Economic Development, Employment, International, International Economic Development, Job Training, Microfinance
Mission: To give people the financial tools they need to improve their lives.
Programs: Global programs: accion is an innovator in financial access and inclusion, developing many of the best practices and emerging standards in the industry. It provides a full range of management services, investment and governance support to help financial institutions to build institutional capacity, provide diversified high-quality financial services and products, become financially sustainable and reach meaningful scale. At the end of 2014, accion was partnering with 29 microfinance institutions (mfis) in 29 countries on 4 continents. Accion's network of partner mfis was serving 5.3 million borrowers with an active loan portfolio of $7.5 billion and savings accounts valued at more than $4.9 billion.
global investments: accion provides early-stage equity, quasi-equity financing and loan guarantees to help mfis become independent of donor funds, build their capital base, attract deposits and attain financial leverage to expand their reach. Accion also extends standby letters of credit to microfinance institutions through its global bridge program. In addition, accion's frontier investments group, founded in 2008, makes equity investments in non-mfi companies that produce technologies, products and services designed to radically enhance the efficiency, reach and scope of products and services for the unbanked. Complementing frontier investments group is accion's venture lab, a seed-stage impact-investment initiative launched in 2012 that is designed to jump-start innovative financial-inclusion start-ups.
center for financial inclusion: accion launched the center for financial inclusion in 2008 to foster creative solutions that address the industry's key challenges. The center works collaboratively with microfinance institutions, international networks, regulators, investors and the private sector to develop ideas, research, and public campaigns designed to benefit the industry and its clients. In 2009 the center launched the smart campaign, a global effort to foster consumer protection and to certify those mfis that incorporate client-protection principles in their work. To date, more than 4,531 signatories have endorsed the campaign. They include networks, associations, donors, investors, supporting organizations, individuals, and no fewer than 1,600 microfinance institutions, which collectively serve over 77 million clients in more than 130 countries. In early 2013 the campaign launched its certification process, which assesses and recognizes mfis that comply with the campaign's client protection principles. So far, more than 40 financial institutions serving over 20 million clients have been certified. The center also directs the ambitious financial inclusion 2020 initiative, a global movement designed to mobilize public and private stakeholders around the achievement of full financial inclusion, using the year 2020 as a focal point for action. Other key programs include a new fellowship program in governance, designed for board members of mfis in sub-saharan africa, and the center's groundbreaking work creating and disseminating best practices for mfis serving people with disabilities. Form 990, part iii, line 4d, other program services: "education and communications: the communications department supports accion's strategic objectives by promoting awareness of accion's work around the globe and educating the public about its mission. " expenses $1,859,861.Including grants of $36,842.Revenue $0.
Mission: To give people the financial tools they need to improve their lives.
Programs: Global programs: accion is an innovator in financial access and inclusion, developing many of the best practices and emerging standards in the industry. It provides a full range of management services, investment and governance support to help financial institutions to build institutional capacity, provide diversified high-quality financial services and products, become financially sustainable and reach meaningful scale. At the end of 2014, accion was partnering with 29 microfinance institutions (mfis) in 29 countries on 4 continents. Accion's network of partner mfis was serving 5.3 million borrowers with an active loan portfolio of $7.5 billion and savings accounts valued at more than $4.9 billion.
global investments: accion provides early-stage equity, quasi-equity financing and loan guarantees to help mfis become independent of donor funds, build their capital base, attract deposits and attain financial leverage to expand their reach. Accion also extends standby letters of credit to microfinance institutions through its global bridge program. In addition, accion's frontier investments group, founded in 2008, makes equity investments in non-mfi companies that produce technologies, products and services designed to radically enhance the efficiency, reach and scope of products and services for the unbanked. Complementing frontier investments group is accion's venture lab, a seed-stage impact-investment initiative launched in 2012 that is designed to jump-start innovative financial-inclusion start-ups.
center for financial inclusion: accion launched the center for financial inclusion in 2008 to foster creative solutions that address the industry's key challenges. The center works collaboratively with microfinance institutions, international networks, regulators, investors and the private sector to develop ideas, research, and public campaigns designed to benefit the industry and its clients. In 2009 the center launched the smart campaign, a global effort to foster consumer protection and to certify those mfis that incorporate client-protection principles in their work. To date, more than 4,531 signatories have endorsed the campaign. They include networks, associations, donors, investors, supporting organizations, individuals, and no fewer than 1,600 microfinance institutions, which collectively serve over 77 million clients in more than 130 countries. In early 2013 the campaign launched its certification process, which assesses and recognizes mfis that comply with the campaign's client protection principles. So far, more than 40 financial institutions serving over 20 million clients have been certified. The center also directs the ambitious financial inclusion 2020 initiative, a global movement designed to mobilize public and private stakeholders around the achievement of full financial inclusion, using the year 2020 as a focal point for action. Other key programs include a new fellowship program in governance, designed for board members of mfis in sub-saharan africa, and the center's groundbreaking work creating and disseminating best practices for mfis serving people with disabilities. Form 990, part iii, line 4d, other program services: "education and communications: the communications department supports accion's strategic objectives by promoting awareness of accion's work around the globe and educating the public about its mission. " expenses $1,859,861.Including grants of $36,842.Revenue $0.
10 Fawcett St Ste 204, Cambridge, MA 02138
617-625-7080
Economic Development
Cambridge
