Learn how we are delivering innovative microfinance savings programs to help families in poverty secure their futures.
When a family begins to earn an income from their new business, they need somewhere safe to keep it. With no other alternatives, many families living in poverty hide what little money or assets they do have under mattresses or in holes in the ground. But here they can be stolen or destroyed – a devastating loss for a family just starting to get on their feet.
Microsavings accounts offer security and provide families with an opportunity to plan for the future – no matter how little money is being saved. Whether it’s twenty cents or just a few dollars – small amounts that wouldn’t be accepted by traditional banks can be stored away in microsavings accounts for safekeeping.
With a savings account – often their very first – families have a secure, convenient way to manage their money. As well as protecting against financial hardship, savings also offer families the freedom to invest in healthcare, education, housing and their businesses when the need arises.