This study summarizes the results of market research conducted in 2009–2010 in five countries—Colombia, Dominican Republic, Ecuador, Nicaragua, and Peru—to learn about the financial behavior and use of financial services among rural residents who could become clients of the microfinance institutions that partnered with ACCION International in developing products for rural areas. Both qualitative and quantitative methods were used. The results provide a detailed portrait of rural residents that can serve as a reference for anyone wishing to design financial services that would meet the needs of these residents or attract them to the services through communications campaigns to increase their use of financial services.

Rural residents are for the most part very traditional, with strong cultural roots deriving from low outside influence and little immigration. While the low level of external influence may be attractive for developing “experiential” tourism, it presents challenges for financial service providers. The context does not generate a great deal of innovation, and there are many “followers” easily influenced by a leader. Because rural residents have limited ability to predict revenues due to weather and market vagaries, and because they assume the support of social and family networks, they pay relatively little attention to foresight or planning but pay close attention to fulfilling their duties and maintaining prestige. The primary objectives expressed are: 1) the education of children as a way out of poverty in the next generation, 2) housing for better living conditions and to build an asset, and 3) business or farm improvement as a means to achieve the first two objectives and as form of self-achievement.