annual general report annual general report - Casey North CISS

The No Interest Loan Scheme’s access to capital is currently $31,000 with ANZ and an
additional $75,000 overdraft facility with NAB.
Fig. 2 Commencing with capital of 3,000 AUD in 2001, and coming to the
end of the 2009/2010 financial year with a total of 33,847 (ANZ) and an
overdraft facility of 25,000 (NAB), the recent financial year saw a further
increase in access to capital by 56% with 31,000 available in the ANZ
account and a further 61,650 available in the NAB overdraft facility.
The 40% growth in total loan disbursements of the 2010/2011 year compared to the
2009/2010 year, the 56% increase in access to capital, the downward pressure on
defaults and the wider coverage of the program, can be largely attributed to the tireless
efforts of six volunteer staff members, across two separate sites.
I acknowledge the efforts of the Casey North volunteer coordinator Nicky White,
towards supporting the program’s volunteers at the Casey North site: Stanley Birkett,
Julie Leonidas, Julie Mills and Helen Jones. Similarly, I express my gratitude to all loan
officers for their commitment to the program.
Shankar Kasynathan
Microfinance Co-ordinator
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