Marie Michael Library

The Cajas Municipales Do Ahorro Y Credito

Burnett, Jill; Cuevas, Carlos; Paxton, Julia

The network of Cajas Municipales de Ahorro y Credito (CMAC) of Peru represents one of the most significant and interesting cases of microfinance in Latin America. The CMAC offers savings and credit services to areas that are underserved by commercial lending. While performance indicators have been favorable, the CMAC faces several obstacles. The way in which it is able to confront these obstacles provides invaluable lessons for other microfinance institutions worldwide.