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Village banking is a microcredit and saving methodology whereby financial services are administered locally in a community bank rather than in a centralized commercial bank. Village banking has its roots in ancient cultures and was most recently adopted for use by micro-finance institutions (MFIs) as a way to control costs.
Bank codes (15 P) Banking controversies (10 P) Cooperative banking (6 C, 6 P) Banking crimes (2 C, 7 P) ... Village banking; W. Wholesale banking; Z. Zombie bank
FINCA International is a non-profit, microfinance organization, founded by John Hatch in 1984. [1] FINCA is the innovator of the village banking methodology in microcredit and is widely regarded as one of the pioneers of modern-day microfinance. [2]
Community banking is a form of empowerment-based economics which falls under the larger umbrella of micro-finance.Micro-finance as a whole is focused on the entrepreneurship of individuals, generally with a goal of lifting low-income or disadvantaged groups out of poverty and providing the means for them to prosper. [3]
Following after the bank code, a 4-digit number branch code identifier. For a list of Swiss bank codes, see Bank clearing number. Ukraine has 6 digit bank codes. Account number does not include bank code. List of bank codes is available at the site of the National Bank of Ukraine. [2] The UK has a 6-digit sort code.
A Revolving Loan Fund (RLF) is a source of money from which loans are made for multiple small business development projects. Revolving loan funds share many characteristics with microcredit, micro-enterprise, and village banking, namely providing loans to persons or groups of people that do not qualify for traditional financial services or are otherwise viewed as being high risk. [1]
The Village Bank was founded in August 1996 in St. George, Utah. Ownership consisted of approximately 350 individuals, located for the most part in the St. George area. Effective May 23, 2012, The Village Bank completed a sales transaction in which Cache Valley Bank will acquire the Sunset, River Road, and Cottonmill (Washington City) offices.
The Banking Code had also regulated legal liability of banks for disputed debit and credit card transactions. On 1 November 2009 it was superseded by the FSA Payment Services Regulations 2009, [ 2 ] amongst other things making banks legally liable for transactions unless they could prove that customers had authorised them.