Savings Groups Brochure

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THE

SAVINGS GROUP PROJECT

SAVINGS GROUPS THE N E E D In Africa, many families live on less than $2 per day—this means families struggle to find money for eating or affording medicine or water. Without access to banks, most impoverished Africans live without a financial safety net for emergencies like illness or drought. They have little hope for real change.

TH E SO LUTI O N Savings groups act as banks for the poor. Through savings groups, impoverished Africans are organized into small groups to save their money collectively and safely. As collective savings increase, group members can take out loans with small interest rates.

SAVINGS GROUPS ACT AS BANKS FOR THE POOR.

H OW IT WO R KS Savings groups are made up of 10 to 20 women or men organized by FH staff to meet weekly. Members contribute a small amount of money weekly to a group treasury. FH staff teach group members how to read, write, run small businesses and manage money.

TH E R E SU LT Group members have access to more money than they could ever save on their own. An emergency fund is available to all group members for illness and other emergency needs. At the end of the year, all money and accrued interest is split up between the members.

THE SAVINGS GROUP PROJECT An annual investment of $50,000 will fund 42 groups each year, and each year the amount of savings per group increases. After three years, a total of 126 groups will be organized and running. In all, 10,000 men and women will together save more than $300,000 and experience of the benefits of increased income.

42 G ROU P S

8 4 G ROU P S

126 G ROU P S

126 GROUPS SAVING $300,000 EACH YEAR TO PROVIDE A SUSTAINABLE SAFETY NET FOR 10,000 MEN, WOMEN AND CHILDREN!

FH MISSION TO WALK WITH CHURCHES, LEADERS AND FAMILIES IN OVERCOMING ALL FORMS OF HUMAN POVERTY BY LIVING IN HEALTHY RELATIONSHIP WITH GOD AND HIS CREATION.

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Food for the Hungry 1224 E. Washington St. Phoenix, AZ 85034 800-248-6437