Microfinance Leader WinsFast Company/Monitor Group Social Capitalist Award
for Fifth Consecutive Year
BOSTON, December 6, 2007– ACCION®International, a pioneer and leader in microfinance, today announced that it is among a select group of nonprofits to be awarded aFast Company/Monitor Group Social Capitalist Award for the fifth consecutive year. This year’s awards feature 45 nonprofits who use the tools of business to solve the world’s most pressing social problems and who have demonstrated a consistent and unusually large impact on society.
Fast Companyand Monitor Group have recognized ACCION with a Social Capitalist Award since the award’s inception because of the organization’s exemplary “social impact, entrepreneurship, innovation, aspiration, growth, and sustainability”. Since making its first microloan more than 30 years ago, ACCION has seen its outreach and impact increase exponentially. This year, its partner network reached a watershed of 3 million active clients. In Latin America, Africa, Asia and the United States, ACCION is bringing quality financial services to the world’s poor—ensuring that they can maintain a roof overhead, feed their families, and give their children the opportunity to attend and stay in school.
“ACCION is deeply honored to be awarded a Social Capitalist Award once again,” said María Otero, ACCION president and CEO. “We celebrate the innovative work of our peers and the collective power of microfinance to make a significant and positive impact on the lives of the poor.”
The goal of the Social Capitalist Awards is to advance performance measurement and accountability in the social sector in a highly rigorous, data driven, comparative approach. ACCION is featured inFast Company’sDecember/January 2008 issue, on newsstands December 4th, and will be recognized at a ceremony at the Westin Washington D.C. City Center on January 8th.
2008Fast Company/Monitor GroupSocial Capitalist Award Winners
Aspire Public Schools
BELL (Building Educated Leaders for Life)
Calvert Social Investment Foundation
Community Reinvestment Fund
Housing Partnership Network
Network for Good
New Leaders for New Schools
The New Teacher Project
Points of Light Foundation & HandsOn Network
Raising a Reader
Reach Out and Read
Room to Read
Rubicon Programs Inc.
Teach for America
Working Today Freelancers Union
Complete information on this year’s Social Capitalist Awards winners can be found atwww.FastCompany.com.
About ACCION International
ACCION International is a private, nonprofit organization with the mission of giving people the financial tools they need – microenterprise loans, business training and other financial services – to work their way out of poverty. A world pioneer in microfinance, ACCION was founded in 1961 and issued its first microloan in 1973 in Brazil. ACCION International’s partner microfinance institutions today are providing loans as low as $100 to poor men and women entrepreneurs in 25 countries in Latin America, Asia, Africa and the United States. In the last decade alone, ACCION partners have disbursed more than 17.9 million loans totaling more than $12.3 billion; 97 percent of the loans have been repaid. Selected for the fifth consecutive year for its pioneering approaches to poverty alleviation, ACCION is among 45 nonprofit organizations awarded the 2008 Social Capitalist Award byFast Company/Monitor Group. ACCION has also been awarded Charity Navigator’s highest rating – four stars – for efficiency and sound fiscal management.For more information, visitwww.accion.org.
Founded in 1996 and acquired in 2005 by Mansueto Ventures, LLC, award-winningFast Companymagazine (www.FastCompany.com) covers the ideas, trends and visionaries that are sparking change and creating the future of business. With a total paid circulation of 746,161,Fast Companyexplores the profound innovation, creative breakthroughs, best and “next” practices that are driving the business world.
About Monitor Group
Monitor Group is a leading global professional services firm working with corporations, governments, and social-sector organizations to help them drive growth.Employing over 1,500 people in 22 countries worldwide, Monitor offers a blend of advisory, capability building and capital services. Headquartered in Cambridge, MA, Monitor can be reached at 617.252.2000 or on the web atwww.monitor.com.
ACCION®is a registered trademark of ACCION International.
Tel: 617-625-7080, x1015