Published On: Tue, Mar 3rd, 2015

Fonacot increase credit lines to Yucatan Peninsula workers

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After a recent ruling forcing compliance with the “Fondo Nacional para el Consumo de los Trabajadores” (Fonacot), the federal agency announced yesterday that the amount of credit for this year will increase to 350 million pesos.

The Fonacot director for Yucatan and Campeche, Miguel Morales Cervera, pointed out that this represents a 20 percent increase, affecting a greater number of workers.

“Our goal is to make 350 million pesos available in Yucatan and Campeche. The goal was increased by 20 percent because the companies are now obligated join Fonacot, thereby increasing the number of affiliated businesses.  Every day brings more employees who need support” he said.

He added that the Fonacot credit line is to improve the worker’s quality of life and that the interest rates are relatively low.

Fonacot increase credit lines to Yucatan Peninsula workers (Photo: Sipse)

Fonacot increase credit lines to Yucatan Peninsula workers (Photo: Sipse)

“Last year in Yucatan, more than 318 million pesos were allocated, with the new Fonacot MasterCard plan, allowing workers to purchase goods in any establishment with Credit Card POS (Point Of Sale) terminal.   The credit is deposited into the paycheck account and the worker can use it like a credit card.  Every credit line includes unemployment insurance in case the worker loses his/her job, covering the first six monthly payments.”

Source: http://sipse.com/

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