Benefits for Workers
The National Workers’ Consumer Fund Institute (Fonacot) has made a significant step towards modernizing and optimizing its processes to provide loans that benefit more workers across the country. This institution, which serves as an essential financial support for Mexican families, aims to reach more people through strategic alliances and improvements in its operational structure.
One of the most notable milestones in this improvement is the recent signing of dissemination agreements with the Confederation of National Chambers of Commerce, Services, and Tourism (CONCANACO SERVYTUR) and the College of Public Accountants of Mexico. These alliances aim to increase awareness of Fonacot loans and make them more accessible to a larger number of workers, who will be able to take advantage of accessible financing with competitive market rates.
Salvador Gazca Herrera, Fonacot’s general commercial coordinator, emphasized the importance of these agreements during the signing event, where Octavio de la Torre de Stéffano, president of CONCANACO SERVYTUR, was also present. Gazca noted that these alliances with business, service, and tourism sectors will allow more people to learn about the advantages of Fonacot loans, which are characterized by low-cost, easy-to-process, and secure financing options.
Gazca highlighted that one of the greatest benefits of Fonacot loans is their social focus. Unlike other financing options in the market, the institution's goal is to contribute to the well-being of workers and their families without jeopardizing their finances. This translates into financial products with favorable conditions, making them a viable option for thousands of Mexican families today.
So far in 2024, more than one million workers have benefited from Fonacot loans. This represents a total amount of over 37 billion pesos, reflecting the institution’s commitment to workers' financial well-being. The loans not only help beneficiaries meet immediate needs but also boost financial stability and household development.
Another key point highlighted by Gazca is the elimination of the opening commission on all Fonacot products, allowing users to access loans without additional fees. This measure, along with the simplification of procedures, has made the process quicker and more accessible for all workers seeking financing.
The agreement signed with the College of Public Accountants of Mexico reinforces Fonacot’s commitment not only to improving its financial products but also to optimizing the institution’s internal processes. Gazca emphasized that thanks to efforts made by the general management and its collaborators, users can obtain their loans in less time, speeding up access to the funds they need.
In the presence of Ricardo Javier Sánchez García, president of the National Federation of the Mexican Association of Public Accountants, Gazca reiterated that Fonacot’s mission goes beyond offering financial products; it’s about providing a quality service that is accessible and free of intermediaries. Workers can be assured that when applying for a loan, they will be receiving fair and favorable conditions.
Fonacot has also improved the flexibility of its products, allowing users to choose from various payment terms, making it easier to meet obligations without placing an excessive burden on beneficiaries. This customization in financing addresses the specific needs of each worker, ensuring they can adjust payments to their income.
The impact of these changes not only benefits accredited workers but also strengthens the relationship between the institution and business sectors. The dissemination of these financial products through CONCANACO SERVYTUR and the College of Public Accountants will enable more workers from all sectors to learn about and access these loans, contributing to the economic well-being of their families.
Gazca concluded by inviting all workers interested in obtaining a Fonacot loan to schedule an appointment through the institution’s official portal. The process is simple, free, and without intermediaries, ensuring a transparent and reliable experience for users. He also reminded everyone that Fonacot has over 100 branches across the country, ready to assist workers.
Fonacot’s commitment to Mexican workers is evident in the significant improvements it has made to its processes and products. The signing of these dissemination agreements is a key step towards democratizing access to credit, ensuring that more workers can benefit from accessible, secure financing that promotes their financial well-being.
With these actions, Fonacot consolidates its position as a pillar of economic development for Mexican families, providing timely and effective financial support for those in need. The future of workers' credit is promising, and the institution continues to seek new ways to improve its services to adapt to the changing needs of its users.