Alante Launches Joint Promotion with FEDECREDITO in El Salvador and Banco Bisa in Bolivia to Support Those Who Celebrate Mother’s Day Away From Home
Promotion is Part of Alante’s Effort to Enhance Support for Transnational Families
May 6, 2010 (Washington, DC) Alante Financial launches a joint promotion with Banco Bisa in Bolivia and FEDECREDITO in El Salvador to support customers who celebrate Mother’s Day away from home. It is part of Alante’s effort to advance its services to transnational families – remittance senders in the US and their families in home country – through partnerships with financial institutions in Latin America. The partnerships will encompass wide range of services to meet diverse financial needs of transnational families.
Throughout the month of May, Alante Financial will offer a free phone-card to customers who send money home through FEDCREDITO or Banco Bisa, encouraging customers to celebrate their family bond beyond borders. Customers will also have the option of a two-dollar discount from the remittance fee instead of the phone card. In addition, Banco Bisa will hold a sweepstakes of selected remittance senders. The winner will receive an offer of a house in Bolivia.
“I am delighted to partner with renowned institutions such as Banco Bisa and Fedecredito, which are trusted and respected among their people. The partnership will enable us to offer more value-added and quality services to fellow Bolivians and Salvadorians,” said Atsumasa Tochisako, President and CEO of MFIC.
Moving forward, Alante Financial and partner institutions will offer transnational loans, which enable immigrant customers living in the US to finance their purchase or renovation of a house in their home country. Clients are able to apply and repay the mortgage loan at Alante Financial branch locations.
MFIC has offered transnational services for over a year through the partnerships with microfinance institutions. Transnational program is part of the Company’s effort to facilitate the productive use of remittances by linking them to other financial products such as saving accounts, micro-loans, mortgage loans or business loans, thereby dramatically improve the capacity of remittance senders and recipients. The partnership with these Latin American partners will contribute to expanding the delivery of the service.
About Alante Financial
Alante Financial is a network of retail financial service centers targeted to unbanked immigrants, and helps remittance senders and their families back home to enhance their economic capacity. Alante Financial is a socially responsible subsidiary of Microfinance International Corporation (MFIC), whose mission is to expand affordable and professional financial services to markets where such services have previously been unavailable. MFIC offers a line of products and services that enable financial services providers to deliver innovative services.
About FEDECREDITO SYSTEM
FEDECREDITO SYSTEM is federation of credit associations and workers’ banks founded in 1938 in El Salvador. It has more than 115 service points across El Salvador, offering financial services such as credit, savings, remittances and payments, among others.
About Banco Bisa
Founded in 1963, Banco Bisa is one of the leading financial institutions in Bolivia. With Through its network of 31 branch offices and agencies in La Paz, Cochabamba, Santa Cruz, Sucre, Tarija, Oruro and Potosí, Banco Bisa offers a wide array of financial services including savings accounts, credit, remittances, e-banking, and bill payment among others.