Opportunity International
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Opportunity International is one of the leading pioneers of microfinance and was the first organization to approach microfinance using a microfinance network. Dedicated to the needs and well-being of the poorest of the working poor, Opportunity, through indigenous partner organizations, provides small business loans—sometimes as little as $50—as well as banking, insurance, counsel and other financial services that allow poor entrepreneurs to start or expand a business, develop a steady income, provide nutritious meals and education for their children and create jobs for their neighbors. Committed to fulfilling Jesus Christ's call to serve the poor, Opportunity dedicates itself to the core values of respect, commitment to the poor, integrity, and stewardship. Opportunity’s goal is to help 100 million poor people in total work their way out of poverty by the year 2015.
Opportunity’s lending methodology revolves around their Trust Group concept. Trust Groups have proven to be an extremely successful lending methodology for encouraging "holistic development" (economic, personal, family, community, and spiritual development). A self-selected group of 15-40 community members (mostly women) jointly access loans ($50-$500), co-guarantee each other’s loans, and engage in educational and social activities under the guidance of their Opportunity International Loan Officer. No collateral is required. The Trust Group system is most effective in reaching large numbers of very poor entrepreneurs where small loans can have a great impact. Loan officers work with groups, thus decreasing operating expenses and achieving program viability and sustainability.
Opportunity International strives to reach the world's poorest people through its microenterprise development programs. Recognizing the large majority of the world's poorest people are women and understanding women’s predisposition to contribute to the well-being of their families, Opportunity makes it a priority to support programs that serve the particular needs of women.
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[edit] History
In 1971, Al Whittaker left his job as president of Bristol Myers to found the Institute for International Development Incorporated (IIDI), a micro-enterprise organization. Barry Harper was IIDI's first Executive Director and, along with development officer Dan Swanson, oversaw establishment of offices in Colombia, Peru, Honduras, Kenya, the Dominican Republic and Indonesia.
Australian philanthropist David Bussau founded Maranatha Trust and first used it to give loans in Indonesia in 1977. He came on staff with IIDI as the director of the Indonesia office in 1979 and began expanding its work in Asia. In 1988, IIDI changed its name to Opportunity International. Since that time, it has continued to grow.
Amid the weak economies and vast income gaps of the developing world, helping the poor find employment was nearly impossible. But the genius of microenterprise development was not in finding work, but in helping poor entrepreneurs create or expand their own businesses.
In 1992, Opportunity International began to focus on serving entrepreneurs at even lower levels of poverty. The Philippines program began to test the Trust Group lending method, and the Women's Opportunity Network was formed and started to test and refine the Trust Group loan program across countries and cultures. Through small loans and business training, one person after another could begin to reverse the downward spiral of poverty and become providers for their families and leaders in their communities.
Convinced that no one group can tackle the issues of poverty alone, Opportunity began developing partners in various regions around the world—independent, self-governing organizations with a similar heartbeat. Linked together in 1998 as the Opportunity International Network - they now number 42 organizations in 28 developing countries with support partners in six countries (Australia, New Zealand, United States, Canada, United Kingdom, and Germany).
In 2000, Opportunity launched into what would become another distinction of its heritage. With more than 200,000 clients worldwide, Opportunity began establishing formal financial institutions (FFI) to broaden the financial services it can provide. FFIs take the form of commercial banks, development banks or credit unions and can accept deposits, borrow money and accept investments.
On 24 January 2006, David Bussau gave the 10th Australia Day Address with the subject "A Giving Nation".
In January 2008, David Bussau was named Senior Australian of the Year 2008. The esteemed awards recognise Australians of excellence – citizens who have made a substantial contribution to the country and are considered inspirational role models for the Australian community. David was recognised for the significant role he has played in the global fight against poverty through his contribution to the world of microfinance.
Opportunity now serves over one million clients annually and expects to be serving 2 million by 2010, and 12 million by 2015. And effecting over 100 million people by 2015. By addressing and transforming poverty, Opportunity International continues to change the course of generations, communities and countries - person by person.
[edit] Annual Report
| Annual Report 2008 | |
|---|---|
| Active Loan Clients | 1,266,144 |
| Savings Accounts | 423,262 |
| Microinsurance Policyholders | 815,705 |
| Average First Loan | $181 |
| Loans to Women | 85% |
| Loan Repayment Rate | 98% |
| Total Staff Worldwide | 10,663 |
| Loan Officers | 5,864 |
[edit] Countries Served
[edit] Network
United States, Australia, Canada, Germany, United Kingdom
[edit] Operating Partners
Africa Ghana, Kenya, Malawi, Mozambique, Rwanda, South Africa, Tanzania, Uganda, Zambia, Zimbabwe
Asia China, India, Indonesia, Philippines
Eastern Europe Albania, Bulgaria, Republic of Macedonia, Montenegro, Poland, Romania, Russia, Serbia
Latin America Colombia, Dominican Republic, Honduras, Mexico, Nicaragua, Peru
