Question 1

What is FUCEC-Togo?

Accepted Answer

FUCEC-Togo (Faîtière des Unités Coopératives d'Épargne et de Crédit du Togo) is the largest and oldest cooperative microfinance network in Togo. The institution operates as a federation of credit unions providing savings, credit, and financial services to over 1.4 million members across the country.

FUCEC-Togo is recognized as the leader in Togo's microfinance sector and one of the most significant cooperative financial networks in West Africa. The institution's mission is to offer secure, profitable, and accessible financial services to all socio-economic categories in Togo through a unified network of financial cooperatives.

Question 2

When was FUCEC-Togo founded?

Accepted Answer

FUCEC-Togo's history dates back to 1969 when the first cooperative d'épargne et de crédit (COOPEC) was established in Kougnohou in the coffee-cocoa growing region of southwestern Togo. This marked the beginning of the cooperative savings and credit movement in the country.

During the same period, the National Committee for the Development of Credit Union Cooperatives (CONAUDEC) was created at the instigation of the Association of Savings and Credit Cooperatives of Africa (ACECA). CONAUDEC promoted the establishment of cooperatives throughout Togo, particularly in the Plateaux region.

The federation itself, FUCEC (Fédération des Unions Coopératives d'Épargne et de Crédit), was formally created to provide centralized support and coordination for the growing network of local cooperatives. The organization received support from the World Council of Credit Unions (WOCCU) and the United States Agency for International Development (USAID) during its development.

The network underwent significant restructuring in the 2000s. A consolidation and redevelopment plan from 2001-2006 transformed the organization, followed by a second strategic plan from 2007-2012 that further professionalized operations and improved performance.

Question 3

Where is FUCEC-Togo headquartered?

Accepted Answer

FUCEC-Togo is headquartered in Lomé, the capital city of Togo. The central office coordinates the network of cooperatives and provides oversight, technical support, and financial services to member COOPECs throughout the country.

Question 4

Where does FUCEC-Togo operate?

Accepted Answer

FUCEC-Togo operates nationwide across Togo with comprehensive geographic coverage. The network consists of 37 COOPECs (cooperatives d'épargne et de crédit) with over 120 points of sale distributed throughout the country.

The network maintains a strong presence in both rural and urban areas, providing financial services to communities across all regions of Togo. This extensive coverage enables FUCEC-Togo to serve diverse populations including farmers in agricultural regions, urban professionals, small business owners, and underserved communities.

The institution's proximity-based approach ensures that financial services are accessible to Togolese citizens regardless of their location, supporting the national financial inclusion strategy.

Question 5

What services does FUCEC-Togo offer?

Accepted Answer

FUCEC-Togo provides a comprehensive range of financial services including:

Savings products including current savings accounts (épargne à vue), fixed-term deposits (dépôt à terme), and project savings plans (plan épargne projet).

Credit products including agricultural credit (crédit agricole), SME/SMI financing (crédit PME/PMI), and housing loans (crédit habitat).

Digital financial services including FUCEC Mobile banking, mobile money services, and digital tontine system (SYSCOFOP digital). Customers can access accounts via mobile operators including Togocom, using USSD codes for transactions.

Transfer services enabling domestic and potentially international money transfers.

Insurance products including CIF life insurance (CIF Assurances-Vie), micro-insurance, and credit insurance for loan protection.

Agricultural finance with digitalized agricultural value chain financing, where credit agents can process agricultural loan applications directly in the field using tablets.

Collective savings solutions through the digitalized tontine system using NFC cards costing 1,000 FCFA (valid for 5 years), allowing participants to make multiple contribution plans with instant receipts and account access.

The network has facilitated over 100 billion FCFA in financing across Togo, with approximately 19 billion FCFA distributed to nearly 40,000 individuals and agricultural value chains.

Question 6

What makes FUCEC-Togo unique?

Accepted Answer

FUCEC-Togo distinguishes itself as a pioneer institution with over 56 years of service to the Togolese population. As the oldest microfinance network in Togo and the sub-region, the institution combines traditional cooperative values with modern financial technology.

The network's cooperative structure creates solidarity mechanisms where the central fund (caisse centrale) pools resources from surplus cooperatives and provides support to those with deficits, creating an internal mutual support system. This solidarity approach strengthens the overall network resilience.

FUCEC-Togo has embraced digital transformation while maintaining its proximity-based service model. The institution pioneered the digitalization of traditional savings practices like tontines, making them more secure and transparent while preserving their social and cultural significance.

The network plays a strategic role in Togo's national financial inclusion strategy, recognized by regulators as a key player in promoting broader and more equitable financial access. With 192.425 billion FCFA in assets and 1.436 million members, FUCEC-Togo has demonstrated significant scale and impact.

The institution's commitment to member satisfaction, innovation, equity, and solidarity forms the foundation of its operational philosophy. FUCEC-Togo goes beyond financial transactions to support economic development and social welfare in communities across Togo.

Question 7

What type of financial institution is FUCEC-Togo?

Accepted Answer

FUCEC-Togo is a cooperative financial network (réseau coopératif) operating in the microfinance sector in Togo. The institution functions as a federation (faîtière) coordinating multiple credit union cooperatives (COOPECs).

Under the regulatory framework of the West African Economic and Monetary Union (UEMOA), FUCEC-Togo is supervised by the Banking Commission of UEMOA (Commission Bancaire de l'UEMOA), which oversees financial institutions in the eight UEMOA member states.

The cooperative structure means that members are both clients and owners, participating in governance through democratic decision-making processes. This member-owned model differentiates FUCEC-Togo from commercial banks and aligns with international cooperative principles while providing microfinance services at scale.

FUCEC-Togo

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About FUCEC-Togo in Togo