6. August 2012 1 06 /08 /August /2012 07:52
"New York City is the world capital of banking. In these skyscrapers that New York built, they control world finance. What I pointed out is that they do the banking with the world but they don’t do the banking with their neighbors. We are here to show that there is nothing wrong with doing banking with neighbors. So we hope we will create some confidence in them. If we change the banks' mind, the whole world will change."
- Muhammad Yunus, May 17, 2010,Grand Opening of Grameen America's Manhattan branch
Grameen America was founded upon the belief that Grameen Bank, a system that has succeeded with remarkable results in the villages of Bangladesh, could work in urban America. Professor Yunus believes that for the world to really take notice of the power of microfinance, it has to work in the capital of international finance, New York City. Under the façade of New York City’s grandeur, there exists a huge population of underserved people who do not have access to banks and mainstream financial institutions. Grameen America opened its doors in January 2008 during the largest financial crisis of the modern era.
Despite being a new player in the domestic microfinance industry, Grameen America experienced considerable growth during its first year. In the first three months, Grameen America disbursed more than $350,000 in micro-loans and had over 165 borrowers. Please visit our Social Impact section for updated information on our current growth.
A Grameen America branch opened in Omaha, Nebraska in Summer 2009, and Indinapolis, IN in 2011. As a result of the growing demand in NYC, Grameen America opened three additional branches in the boroughs of Manhattan, Brooklyn and the Bronx. All branches have experienced rapid growth in the short period they have been operational.
Grameen America continues to expand the reach of microcredit across the United States, with additional branches in development in California, North Carolina, Boston, and Washington, DC.
Published by Alamgirkingpin