UTCAR Hunedoara or Credit Union Association from Hunedoara County is a non-profit organization, which reunites and represents 25 Credit Unions from Hunedoara County, Romania. UTCAR HD has a history of over 20 years, with a strong social component and thus it is indirectly involved in the regional micro financing - UTCAR Hunedoara is the main founder and shareowner to S.C.M. Aurora I.F.N. S.A.
Created in 1990, UTCAR HD aims at providing access to affordable financial services and financial education for low income households and founders of micro and small enterprises in Hunedoara Region.
In order to support small entrepreneurs UTCAR HD in partnership with UNCAR ( the national association) are the funders of S.C.M. Aurora I.F.N. S.A. (MFI)- also a member of EMN since 2010, thus being also involved in the regional development.
UTCAR HD plays an important role at the regional level, in the Hunedoara County and surroundings area (Timis County). UTCAR HD’s staff counts currently 13 people.
UTCAR HD is providing organizational, managerial, financial, and technical support to all affiliated entities. Currently there are included 25 Credit Unions, totalizing a number of over 72.000 members (clients). Within the last 20 years of ongoing activity, UTCAR HD focused on developing its social components by contributing directly to the education of its members (clients) in the spirit of savings and strong financial management.
UTCAR HD counts 71.000 active members. It is the largest Regional Credit Union Association and has 25 Credit Unions affiliated. In 2010, 49.009 loans were disbursed for a total amount of 38.961.185 Euro.
• Continuous development of the affiliated Credit Unions by attracting new members within the financially excluded areas and creation of new lending products to support them.
• Lobby for improvement of the Romanian legal framework regarding microfinance, in order to improve financial assistance for those with low incomes;
• Lobby for promoting Credit Unions as efficient tools for distributing the finance from communitarian funds.