In the fall of 1997, United Methodist Committee on Relief (UMCOR) established the AREGAK microfinance program, with a purpose to create economic opportunities for low income people who had no or limited access to the formal financial sources, especially in the remote rural areas.
The microfinance program rapidly became the largest MFI in Armenia in terms of number of active clients.
In March of 2006 AREGAK was registered and accredited by the RA Central Bank as a Universal Credit Organization structured as a Closed Joint Stock Company having UMCOR as its Sole Shareholder.
Presently “AREGAK” UCO renders a broad range of financial services without compromising the social aspects of its mission and continues initiatives geared toward the fulfillment of its social goals.
“AREGAK” UCO has a country-wide branch network throughout the Republic of Armenia and the Republic of Nagorno Karabakh.