Shoqëritë e kursim-kreditit, sfida në kreditimin e ekonomive të vogla dhe përballja me konkurrencën e bankave tregtare
The Saving & Credit associations, their challenges in crediting the small economies, facing the competition of commercial banks and the global crisis: how successful are they currently in the market

Summary/Abstract: Microcredit or differently named as “loan in small amounts” is not a new concept in the world of finance. In an immense way, microcredit is used as a term that identifies it with the poor or vulnerable groups of population, which are excluded from banking institutions in obtaining financial services. Also, microcredit actually is considered as a powerful tool for alleviation of poverty, prevention of negative phenomenon like unemployment and immigration and for emancipation of women as one of the less advocated groups in the society. Microcredit is a financial instrument that tackles enormously millions of people all over the world. In 2006 resulted that 3133 microcredit institutions were serving to more than 113 millions of clients throughout the world, while until the year 2015, the microcredit instrument tends to reach 175 million clients. In Albania, Savings & Credit Associations mainly operate in rural areas of those districts which have the highest density of population, economic and agricultural activity such as districts in Central Albania, Western lowlands, and Southeastern part of the country. These Savings & Credit Associations are members of ASC Union, which extends its microfinance activity in around 1000 villages, in 16 districts of the country. Savings & Credit Associations are administered by Steering Boards which are elected by their own members in the General Annual Assemblies. The goal of this paper is to provide an overview on the performance of Savings & Credit Associations and whether the global crisis has had any impact in their activity.

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