Savings and Credit Cooperatives in Pichincha, Ecuador: is this a Sustainable Social Management Case?
Volume 7, Issue 3 (2018), pp. 551–560
Pub. online: 30 March 2018 Type: Article Open Access
30 March 2018
30 March 2018
Cooperatives have the potential to develop an economic, social and environmental activity in a sustainable manner. In particular, social management is aimed at meeting the needs of its partners, families and community in an efficient and effective way. A study of social management was carried out in 60 savings and credit cooperatives in Pichincha, Ecuador, to determine if this is carried out under sustainability principles, with the determination that the recognition of social responsibility and the integral management of the economic and social issues, depends on the segment to which they belong, in which the non-definition of the social budget has a negative influence. The ignorance of the partners about the principles of Cooperativism; the inexistence of Cooperative Education Committees, specifically environmental education and action programs; the lack of granting credits for partner undertakings and the non-application of the cooperative social balance sheet are also other issues that damage the correct functioning of these associative forms. There were recognized areas to be strengthened to guarantee the sustainability of cooperatives as an associative form, such as the definition of social objectives; the active participation of the partners in decision-making and of another two interest groups (families and community).