FAQ

Why the name ‘CowFund’? (top)

Often the microcredit projects that we support in Asia involve the provision of cows and other livestock to needy families, so we thought it was a nifty name.

But I thought you were called CowBank? (top)

We were, until we trampled on someone else’s trademark, in good bovine style. So we had to change our name to CowFund - but we’re still all about microcredit.

Is CowFund a registered charity? (top)

No. CowFund is a non-profit initiative auspiced by Grameen Foundation Overseas Aid Fund, which accepts and receipts donations on our behalf, and keeps our financial records in order. All donations of $2 or more to CowFund are tax-deductible. As we are not a registered charity, we do not have an Annual Report (but we do provide an annual update for donors, which can be viewed on the News section of this web site).

What are your administration costs? (top)

Zip. Zilch. Nix. CowFund is a deliberately lean machine, run by volunteers who are in it for love, not money. Everyone in the CowFund team has a day job - none of us get paid for our involvement in CowFund. We don’t have a schmick office or a thriving publicity machine. Any miscellaneous administrative costs (like the cost of keeping this web site going) have either been donated by kind sponsors or met from our own pockets. The costs associated with overseas site visits are met by CowFunders themselves. The only cost to the donor is a small fee levied by PayPal associated with online transactions… but that can’t be helped.

What’s microcredit/microfinance? (top)

There are a number of definitions of ‘microcredit’ which differ from country to country. CowFund likes this one, adopted at the Microcredit Summit held in Washington DC (2-4 February 1997):

“Programs extending small loans, and other financial services such as savings, to verypoor people for self-employment projects that generate income, allowingthem to care for themselves and their families.”

Whatever the exact definition used, some of the defining criteria of microcredit programs include -

  • size - loans are micro, or very small in size
  • target users - the target users are microenterpreneurs and low-income households
  • utilization - the funds are used for income generation and enterprise development
  • terms and conditions - the terms and conditions are developed by people on the ground, and suited to the local conditions of the community.

For further FAQs on microcredit, visit the official web site of the UN International Year of Microcredit.

How are the individual recipients of CowFund’s assistance selected? (top)
It depends on the program. All of our international programs have different ways of selecting candidates for microcredit assistance. For further information on each program model, see our programs.

How are CowFund partners selected? (top)
All of CowFund’s international partners have undergone a rigorous due diligence by our International Operations Subcommittee. In some cases, a CowFund team member has personally spent time at a partner’s operation. In all cases, a CowFund partner must:

  • Perform microcredit activities
  • Already be running this microcredit activity successfully (unless a start-up organisation)
  • Be in Asia
  • Be prepared to communicate with CowFund.
  • Pass a process of due diligence implemented by the CowFund International Operations Subcommittee.
  • Meet the approval of the Grameen Foundation of Australia.

What’s the timeline for programme implementation in Asia? (top)

All programs supported by CowFund are designed to be sustainable - so any monies given will continue to ‘revolve’ within microcredit systems for many years to come.

Where do the funds come from? (top)

CowFund raises funds to support its partners in Asia through fundraising activities like the ‘Cows to Kosciuszko’ bike ride. 100% of monies donated are used for programme implementation in Asia.

Will I get a picture of my cow and its owner? (top)

While we understand donors’ desire to bond with ‘their’ cow and the families that own them, we can’t provide you with personalized information/photos due to:

Cost and logistics. It’s costly and burdensome for our implementing parties in Asia. Our partners in Asia run lean operations and don’t have ‘marketing’ budgets. Their business is microcredit, and to impose the burden of ensuring that individual photos are taken of all participants (and their cows) would divert precious resources from their core business. Moreover, many participating families live in places not readily accessible, like the Chittagong Hill Tracts in Bangladesh. It’s difficult (and sometimes dangerous) to get in and out.

Privacy issues. Some recipients of CowFund’s assistance don’t want to be photographed on privacy / dignity grounds.

Not all funds are necessarily used to buy cows. In some of our programs (like Bangladesh and Sri Lanka), not all micro-credit loans are used to buy a cow. In these programs, donations may be used to fund the provision of a goat, sheep or a sewing machine to a needy family, rather than a cow.

We CAN, however, guarantee that cow donors will be able to access regular updates on the progress of our programmes, through our web site.

When do I get an official receipt for my donation? (top)

The Grameen Foundation of Australia will send you an official receipt within 21 days of your donation. If it’s been more than three weeks and you’re starting to get worried, email us at cows@cowfund.org

What’s the cycling connection? (top)

In October 2004, the CowFund team set out to raise the equivalent of 100 cows (then $30,000) by cycling 582kms from Sydney to the top of Mt Kosciuszko. That was a pretty interesting thing to do, given that none of us are professional cyclists…

The ride, known as ‘Cows to Kosciuszko’, was a great success - due primarily to our wonderful supporters. We exceeded our target by more than 150%, and the list of cows gracing this web site continues to grow. Rumour has it that CowFunders are preparing to mount another two-wheeled fundraising assault in 2008… you’ll hear us moo-ing from afar when this is confirmed!

How can I contact CowFund? (top)

It’s best to email us at cows@cowfund.org .

How can I support CowFund? (top)
Click here for some ideas about how to get involved.