A visit to the supermarket “Claudito”, the 4,000th CajaVecina, and the tour to the Whaler Quintay marked the conclusion of the landmark "bankarising Chile", with which the financial institution entered into a new step in terms of financial inclusion. The President of the Republic, Sebastián Piñera, was part of the event, and highlighted the contribution of BancoEstado and CajaVecina for the country, indicating that the bank is familiar, is part of the neighborhood, is just around the corner, and underlined it "as a good idea capable to improve people's lives ", said the executive.
The President also underlined BancoEstado’s social role in bankarising the country, adding that "I am pleased to see this institution present in all districts of the country, increasingly close to people and also contributing to integrate every Chilean in benefits of modernity. This is a bank that has more than 155 years of history and is always looking ahead to the future. This Bank is fulfilling its role before all Chileans. It shows how innovation, entrepreneurship, commitment, closeness and aim to serve can help improve Chileans’ lives”, he mentioned.
He referred to the results of the Bank’s capitalization, and pride he feels that today our 400,000 customers in the segment of micro-enterprises, are incorporated to the banking services.
After visiting the mini-market of Claudio Rozas and his wife Teresa Otazo, and travelling with the authorities in Caleta de Quintay, the Chairman of BancoEstado, Segismundo Schulin-Zeuthen, outlined the goals that the company has set to further deepen bankarization.
"Through CajaVecina, we are now the only financial service present in 120 communities. We intend to have a 6,500 network of by 2011. With CuentaRUT we have incorporated to the financial system 2,601,026 Chileans. Our goal is to close next year with 3,500,000 active accounts. Another big step will be to reach 425 000 bankarized micro-entrepreneurs. "
"For BancoEstado, bankarization is the engine that drives our management. That’s what we are all about: to fulfill a role different from other banks, to democratize access to the financial system and make it available to all Chileans. For us "bankarizing is expanding horizons, giving opportunities, contributing to the modernization of the country, bringing people to the benefits of technology; it’s improving living standards of individuals and their families. It is social inclusion, "said the executive.
I am bankarization
During the event, small entrepreneurs Claudio Rozas and Teresa Otazo, owners of Quintay’s CajaVecina were publicly acknowledged. With this service, residents of this town can make withdrawals, deposits, balance inquiries, loan payments, utility payments, mobile phones top up, transfers between Bancoestado’s accounts, advances and credit card payment, without having to travel long distances, wasting part of their time and money. Currently BancoEstado accounts for more than 3 million transactions per month in all CajaVecina across country.
Likewise, René Barrios – fisherman - received an award aiming at acknowledging the effort and passion of all fishermen from Quintay. "They represent the 400,000 microentrepreneurs bankarized by BancoEstado across the country. Craftsmen, teachers, news boys, students, transporters and traders, they are all Chile’s bankarization”, underlined the Chairman of BancoEstado, Segismundo Schulin-Zeuthen.
Growth experiences of these entrepreneurs are the input that BancoEstado collects to accept new challenges in financing the development of individuals, families and enterprises, deepening and disseminating a responsible borrowing model that is a real contribution to the reduction of poverty, a better distribution of incomes and the increasing incorporation of Chileans in the benefits of a modern global economy.
Back to the Sea
Nowadays, BancoEstado Micro-enterprises has 400,000 customers, a balance of commercial loans as of $ 490,382 billion, which increase to $ 700,000 billion, considering mortgage, consumption and education operations. The customer satisfaction index reached 86% annually, in late 2009.
The branch serves microentrepreneurs, with an annual turnover under UF 2,400, committed in trade, manufacturing, agriculture, transportation and fishing. The Back to the Sea program has been developed for the latter segment. It is a joint initiative with the Fund for the Development of Small Scale Fisheries (FFPA), aiming at supporting small-scale shipowners who lost their boats or motors due to the earthquake in the damaged regions, to start again their activities.
The program began in March and has a 25% subsidy from the FFPA, a 50% of private contribution and 25% of customer's own contribution through savings or credit from BancoEstado. The operations funded by BancoEstado have been covered by CORFO.