Las Cajas de Ahorro y el Sistema Microfinanciero en Venezuela

Abstract

Savings banks are nonprofit associations that are created from the foundational will of its partners in order to encourage savings. From its beginnings were formed under altruistic principles, with a strong social welfare purposes, but always focused on savings as a means of promoting economic development, meeting the needs of consumption of goods and services by its members. While its engine is provided by the savings, in order to ensure optimal performance under efficiency standards, savings banks require to make a large number of financial operations to safeguarding the interests of the partners, from the development investment aimed at maximizing the utility of its members, thus able to offer loans of different types tailored to their needs. This documentary research, whose main objective is to present in a descriptive way, the reason for the savings banks in our country, based on the identification of its characteristic features, operation system and all the potential that they have to address existing unmet needs in the population. It is on this point where associations could give related services generally offered by traditional financial companies, which makes attractive any processing or resizing savings banks in microfinance institutions to address such integral partners, maximizing their welfare.