Our mission is to support the economic empowerment and improvement of living standards of low income families, small- and medium-size entrepreneurs through provision of high quality, accessible and sustainable financial services.

The Organization’s mission is to support the economic development of micro and small entrepreneurs with high quality, accessible and reliable financial services.

The Organization’s vision is to be the most dynamic and ethical financial institution which delivers a broad product range to its market segment in Republic of Armenia (RA) and Nagorno Karabagh (NK).

The main goals of the Organization are: assistance to micro and small entrepreneurs by provision of accessible financial services throughout RA and NK; continuous increase of crediting volumes; introduction of new credit products; expansion of geographic coverage.





Roland Fernandes 

Board Chairman     


Steven-Craig Movsesyan               

Board Member       


James Cox

Board Member 


Hayk Papyan

Board Member


Gayane Movsisyan

Board Member


Magi Nargizyan

Board Member

                                                                                                                                                                                                        Executive Administration

Mariam Yesayan

Executive Director


Armine Aghajanyan

Finance Director/Chief Accountant



“AREGAK” Universal Credit Organization CJSC has been established by the decision issued by the founder of the Credit Organization dated February 28, 2006. The sole shareholder of the Credit Organization is “UMCOR ARMENIA”, a charity foundation established under the laws of the Republic of Armenia. The charter capital of the Credit Organization is comprised of 3,445,000,000 (three billion four hundred forty five million) Armenian drams, which includes 17,225 (seventeen thousand two hundred twenty five) common nominal shares, each with 200,000 Armenian drams nominal price. The number of the declared shares of the Credit Organization is 100,000 (one hundred thousand).The Sole Shareholder of "AREGAK" UCO CJSC is the "United Methodist Committee on Relief" non profit organization (UMCOR, NY, USA). The number of shares declared by "AREGAK" UCO CJSC is 17,225, with a nominal value of AMD 200,000 per share. The share capital is AMD 3,445,000,000.

The humanitarian projects implemented by UMCOR encompas more than 80 countries worldwide. Since 1994 UMCOR has been working in Armenia and its mission is focused on assisting in poverty reduction and social-economic development. In 1997 UMCOR founded AREGAK micro lending program with objectives to support economically active, with low-income population.
  • Corporate name of Shareholder

    "UMCOR Armenia" Charity Foundation

  • Registration details, location (postal address)

    Registered and operating on the basis of RA Legislation. Legal address: 14 Karapet Ulnetsi Street, city Yerevan, RA

  • Number of shares:types and classes

    17225 ordinary shares 

  • Share capital


Our presence

  • 25
  • 10
    Representative offices
  • 900

Development stages

“AREGAK” Universal credit organisation CJSC was licensed by the Central Bank of the Republic of Armenia in March 2006. From 1997 until licensing by the RA Central Bank as a Universal Credit Organization,, the “AREGAK” microfinance program operated as a unit of the United Methodist Committee on Relief (UMCOR). The very first branch office was established in Vayots Dzor in 1997. The establishment chronology of the branch offices is introduced as follows:
  • 2021
    Armavir Representative Offices was registered
  • 2020
    Vedi, Dilijan, Spitak and Ashotsk Representative Offices were registered
  • 2019
    Maralik Representative office was registered
  • 2018
    20th Anniversary of AREGAK
    AREGAK celebrated its 20th Anniversary, in the frameworks of which several events were conducted for both loyal and new consumers. The Organization's Yeghvard Representative Office was registered
  • 2013
    15th Anniversary of AREGAK
    AREGAK celebrated its 15th anniversary. The Organization's Alaverdi branch was registered in the same year.
  • 2010
    Branch Network Expansion
    AREGAK branch network was expanded including borderline Chambarak, Berd, as well as Artik towns.
  • 2007
    Branch Network
    Branches were founded in Talin, Aparan, Stepanavan, Vanadzor, Vardenis, Martuni, Gavar, Sevan, Kapan, Sisian, Goris, Ararat, Abovyan, Armavir, Ijevan cities of RA, as well as NK Stepanakert and Martuni cities.
  • 2006
    Registered as "AREGAK" Universal Credit Organization CJSC by the Central Bank of Armenia. Masis, Artashat, Ashtarak, Gyumri, Echmiadzin branches were registered.
  • 1998
    First branch in Yerevan
  • 1997
    Established as UMCOR microfinance program.The first branch was established in Vayots Dzor Region.

Organizational structure