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Village Savings and Loan Association

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The Gift of Village Savings and Loan Association Training

In many places in the world today, people without access to banks are caught in an unremitting cycle of poverty since they are unable to obtain capital with which to start a small business or establish a farm to increase their income. World Renew helps communities establish savings groups that give the members access to capital and small, revolving loans using their own funds.

In Haiti, Mireille Petit-Homme, a 56-year-old mother of five, was economically vulnerable as she worked on her own to sell rice, sugar, corn, millet and beans in the local market. However, when she joined a World Renew-sponsored savings loan association in her community, her economic security grew. Along with other members of her village savings and loan group, Mireille committed to saving collectively. With the group’s larger pool of savings, the association was able to loan money to Mireille at a much lower interest rate than she had previously been paying. She invested the money in her business and repaid the loan from her profit. Besides giving Mireille financial security, the association offered her a strong social network since members often share activities and events.

Mireille is convinced that the village savings and loan association has brought great change to her community, especially in the lives of women. Many of them used to be entirely financially dependant on their husbands, but now they own small businesses.

Thank you for your gift of a village savings and loan association in a community like Mireille’s. Your gift reflects the heart of God, our Father. He calls His children to loving acts of generosity on behalf of people who are longing to flourish economically, physically, and communally.

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