“SANASA” is the Sinhala acronym for the Movement of Thrift and Credit Co-Operative Societies in Sri Lanka. SANASA is the only Micro Finance Cooperative Network in Sri Lanka covering all provinces with 8424 primary societies. The membership of the movement consists of persons belonging to all races and religions numbering 805,000. The total population coverage is over 3,100,000, making SANASA the most representative Co-operative Organization in Sri Lanka. The fundamental strength of the movement has helped it to thrive and grow in spite of the devastating ethnic conflict fueled by multiple socio cultural political and economic issues. The primary societies function autonomously within an area designated for them.
The Primary societies serving a membership population in designated areas are also referred as “Primary SANASA Society” in the village. The federation referred heretofore, represent the largest People Oriented Service Organization based on a cooperative philosophy.
Thus the Sinhala the language spoken by the majority uses a concise wording for savings and credit “SANASA” which was the name given to this peoples’ movement and hence the federation is also referred as SANASA Federation, and the peoples movement that it stands for is referred as the “SANASA Movement”.
The uniqueness of “Sanasa movement” in Sri Lanka and the brand name “SANASA” is that.
1. It is the organization which follows a cooperative philosophy among its membership and to the community.
2. An independent organization operating on cooperative principles with a success story over 100 years of existence.
3. Nonpartisan and nonpolitical in its service to humanity.
4. Sanasa family is comprised of all ethnicities and religious sects and castes as Sanasa Community.
5. Bottom up management style where each village entity guided by the center has the democratic right for governance.
6. Utmost transparency from grass root level to the corporate institutions.
7. Supremacy of the member to express opinion and vote.
LMPA is the pioneer in microfinance networking among microfinance practitioners in Sri Lanka, and was initiated on the 31st of March 2006. The Lanka Microfinance Practitioners’ Association is incorporated as a non-profit organization under the Companies Act No. 7 of 2007.