Our VSLAs not only help families to save their money, or to access money in emergencies. They also help them earn.
Because interest is charged on loans, savings earn interest. Collectively, our VLSAs recently returned an average of £1.47 to members for every £1 that they had saved - a precious return when income is so low.
Loans also provide seed money for small, profitable business ventures. Members use the money to invest in buying and selling different goods, ranging from oil to sugar to soap. In such an isolated area as the Plateau, tidy profits can be made this way (50-60%). But this increase in petty trade doesn’t only benefit the individual. Communities benefit from this ‘market expansion’ and the greater availability and diversity of goods.