Developing Community and Reducing Poverty through Christ-Centered Savings Groups

Savings Group Types

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Accumulating Savings and Credit Association

Accumulating Savings and Credit Association

In this type of savings group, the participants deposit their savings each week into a common pool of funds that is then available to be loaned out to participants of their own savings group. Participants make an application to the group for a loan. Those receiving loans are charged interest on the outstanding balance of…

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Straight Savings

Straight Savings

In a straight savings group, the participants are saving weekly for a specific need. Many participants in this type of group are saving for their children’s school tuition, home repairs, or funds to purchase larger animals such as pigs, goats, or cows. This type of group has a six-month savings cycle. Each person saves what…

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Rotating Savings and Credit Association

Rotating Savings and Credit Association

In this type of savings group, each participant saves the same amount of money each week. The funds collected are each week are given to one participant. The payout is rotated around the group until each participant has received a payout. This gives the participants a larger sum of money at one time. With these…

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