The community bank of Arimae, located in the Collective Lands Indigenous Territories of Darién is one of the oldest community banks created by Global Brigades. The community bank offers access to affordable financial services to Arimae’s community members. The community of Arimae does not have access to financial services such as savings and loans, the closest options are often too far, or too difficult to reach due to cultural, geographical/logistical and monetary reasons. There is a common discriminatory bias from Panamanian society that indigenous people cannot save, because they are poor. Therefore, due to this bias and the fact that most indigenous peoples in the region are in the informal sector, they are all excluded from accessing basic financial services, such as a savings account. Additionally, the distance and poor public transportation system limits communities in the region to be able to reach local commercial banks and the cost and requirements to open a savings account are unattainable for most people from Arimae.
They currently have a KIVA loan to purchase office equipment for their community bank. This is the second KIVA loan they receive as a group. https://www.kiva.org/lend/1814929?minimal=false
The community bank of Arimae is recently finishing their community bank offices, where they are planning to organize community bank activities and increase their membership through promotional campaigns during those events.
The membership of Arimae has remained robust, nonetheless, it has not shown significant growth in recent years. They are working on that challenge currently, yet they also would like to learn how to learn more about accounting and finance for the better management of the community bank.
The tasks thatCommunity Bank Arimae has prioritized are:
Page Last Updated:December 13, 2019