Financial cooperatives & local development. The case of the savings and credit cooperative Jardín Azuayo

Abstract

In Latin America, there is a critical view of development because, despite the expansion of the world’s economy, there are still millions of people living in extreme poverty. For this reason, alternatives to development such as buen vivir in Ecuador have emerged. However, to achieve buen vivir a new type of economy is necessary, one that fits its proposals of solidarity, harmony, and equity both among human beings as between them with nature. This type of economy is called social and solidarity, and savings and credits cooperatives are part of it.

In Ecuador, one of the most important savings and credit cooperatives is Jardín Azuayo. Understanding the impact of this cooperative on the development of rural communities in Azuay also means to comprehend how people in these communities imagine development. This thesis analyzes this imaginary based on which the contributions of Jardín Azuayo are evaluated. These results provide a more global vision of Jardín Azuayo role in the configuration of a more supportive, cooperative, and inclusive society.