Immaculada Duran: "That young people have a mortgage to live here is investing in the territory"

PalmWith more than 25 years of experience in the financial sector, this IT professional by training is the business manager of Colonya Caixa Pollença and one of those responsible for the Hipoteca Jove program within the entity. She sees the desperation of citizens to access housing on a daily basis.

How has Hipoteca Jove worked in Colonya's case?

— It is a fantastic program because it solves a concrete problem, the lack of savings that, unfortunately, many citizens have, and which prevents them from accessing a mortgage loan. Thanks to the guarantees offered by the Government, our entity can offer, in addition to the 80% allowed by regulations, extraordinary financing that for many represents the difference between owning a home or being excluded from any purchase option. We have already approved more than 260 operations thanks to this program.

Without savings, you cannot buy an apartment. And how can you save with the cost of living in the Balearic Islands?

— This is the great contradiction. With the rent price, young people cannot save. Well, I say young people and I correct myself, families cannot save. This causes that, when the time comes to acquire a home, people find that they do not have the necessary money. Banks have limitations by law, which makes perfect sense, but, at the same time, there is a reality that as a society we must face: many people are left with no options to buy any property, however small, due to the mismatch between the prices that exist in the Islands and their economic capacity. Therefore, it is necessary for everyone to make an effort to offer solutions.

Can you give a concrete example of the change this program entails?

— Of course. A couple who wants to buy an apartment in Manacor for 220,000 euros finds that, if they don't have Ibavi's guarantee, they must provide 44,000 euros, because we can only finance 176,000 euros. How many young couples have 44,000 euros saved? Thanks to the program, we can finance 100%. I believe that right now, this program should not only be maintained, but also expanded. We are in a housing emergency and I am clear that getting young people a mortgage to buy and live here is investing in the future of the territory.

From their position, they must see stories of suffering.

— In recent years, after the pandemic, the situation has worsened considerably. And, honestly, I believe that a small entity like ours always supports its clients. And let's not even mention at the time of purchase. I sit and listen to how clients view life, how they approach it, and helping them is one of the greatest pleasures I have in life. However, it's not always possible, of course, we also live through tough times. Right now, having a mortgage for an apartment is the line between the illusion of living or the feeling of failure. All of this causes a psychological effect on an entire generation. I see a disillusioned society, and public authorities, financial sectors, and business owners, we all have to do our part to confront this problem, because it is truly very serious.

Are there those who give up before applying because they think the conditions are only for very low incomes?

— One of the characteristics of Hipoteca Jove is that the beneficiaries' income can be 60,666 euros for one holder and 68,250 for two, which shows that it is an initiative that opens the door to a large part of society. It is also required not to own another home, except in justified cases such as separations or partial inheritances. I believe that an effort has been made to provide a response, and the clearest example is that we do not stop signing operations. When there was a change of government, we had a few weeks of uncertainty, and it would have been a shame if it had not continued, but the new Executive was clear that it could not stop it.

Speak with passion about Colonya. You are among the few privileged people in the entire State who can say they work in a cooperative bank.

— That's right. I no longer know the entire staff, which is good news, because it means the project is growing, getting bigger, and that fills us with joy. Working at Colonya means being part of a family that understands financial services as more than just a business. To begin with, as you know, as a savings bank, we reinvest our profits in social work and, therefore, we are deeply involved in the needs of society. It's not a cliché, but rather it stems from the regulations of savings banks and our conviction. And of course, this makes you come to work with great enthusiasm every day, to make the dreams of thousands of people possible through rigor and personalized attention.

In fact, it will be one of the few entities for which you do not have to make an appointment through an application to be seen.

— We are around 50,000 customers, who trust in a proximity banking rooted in the territory. When we say proximity, it is not an advertising slogan, but a daily reality. Our clients come to the offices, or call us, and we give them the best service. We respect all models, but we are clear that ours is not to treat users as a simple number. Any operation is important to us and we have no restrictions on hours, cash availability, or anything else. When they come, we attend to them in everything they require. Of course, if it is a mortgage loan, the most important decision people make in life, we sit down and look at it very carefully.