INDUSTRY PARTNERSHIPS & COLLABORATION
ACCION’s Center for Financial Inclusion
In September 2008, Unitus joined ACCION’s Center for Financial Inclusion’s Expert Dialogue working group to inform the Center’s Beyond Codes initiative, which will develop and pilot a six-point consumer protection code of ethics. As a member of the working group, Unitus has an opportunity to share insights from its own partners to develop a truly inclusive code of ethics for the industry. Unitus will also take a seat on the steering committee for the Campaign for Consumer Protection in Microfinance, a related industry initiative.
Microfinance Transparency
At the Asia-Pacific MicroCredit Summit in July 2008, Unitus, alongside a host of other microfinance networks, MFIs, and others, signed on to show its support for MF Transparency. The industry-wide initiative aims to bring truth-in-lending standards to microfinance by publishing standardized annual interest rates on its website. Unitus and nearly 45 other microfinance-related organizations endorsed the initiative as a critical next step in ensuring ethical lending practices. We will continue to work closely with our partners to ensure transparency throughout their business operations, especially in client relationships.
SEEP Network
In April 2008, Unitus joined the SEEP Network and will participate in several of SEEP’s industry working groups, including the Social Performance Management (SPM) and Financial Services groups. As a member of SEEP, Unitus will have an opportunity to collaborate with industry peers on many relevant fronts, including enterprise development, financial services for the poor, and social performance management. Within the working groups, Unitus is aiming to “connect the dots” between various SPM initiatives and ensure a consistent and measurable methodology for MFIs, as well as provide insights from our partners to help improve the industry’s overall financial reporting standards.
Social Performance Task Force
In June 2008, Unitus attended the Social Performance Task Force meeting in Paris, France. Created in March 2005, the Social Performance Task Force (SPTF) has been charged with clearly defining social performance and addressing questions about measuring and managing social performance in the microfinance sector. More than 200 organizations around the world participate in the SPTF meetings and activities—MFIs, investors, network organizations, and academic institutions. Unitus is now an official member of the SPTF and is working on the Social Indicators and Social Investor subcommittees.
The initiative represents a unique and important opportunity for developing a deeper understanding of microfinance's effects on poverty and underserved populations, with the ultimate goal of improving products and services to better serve the poor.
