On January 7, 2019, the Worldwide Foundation for Credit Unions awarded SEDPI a contract to conduct a demand-side research with credit union members of select credit unions (CUs) or credit cooperatives in the Philippines.
The Worldwide Foundation for Credit Unions, the social impact affiliate of the World Council of Credit Unions (WOCCU), partnered with the Bill and Melinda Gates Foundation (BMGF) to design open-loop, low-cost, real time payment platforms for its global network of credit unions (CUs). The goal of the project is to reach and serve the existing 248 million CU members and to extend the CUs’ reach to unbanked populations worldwide.
The Filipino implementation partners are national associations which are WOCCU global members. These are the National Confederation of Cooperatives (NATCCO) and the Philippines Federation of Credit Cooperative (PFCCO).
The demand-side research will be conducted through at least 30 focus group discussions (FGDs) with credit union members to understand their needs and preferences with respect to digital payments. The FGDs would be conducted in partnership with at least 13 credit cooperatives all over the country.
The results of the demand research would provide valuable input to the project and promote financial inclusion in the country and to the unbanked populations around the world.