It's one of the simplest yet powerful and sustainable ways to empower women. The humble savings group. A concrete way for women to learn financial basics and disciplines—how to save and pool their money, borrow, pay back loans, make financial decisions, and share the profits of a shared enterprise.
That's why savings groups are a key component of our economic empowerment approach, especially in rural areas. You can help more women participate in this powerful experience by investing in theStrong Women Strong World™ Fundby September 30th, 2021.
The basics.
How savings groups work
World Vision helps a 15 - 25 people establish a neighborhood club.
Members co-create their own constitution, bylaws, and select their leaders resulting in a member-owned, member-run enterprise.
They meet regularly and pay dues each time. This may be as small as the US equivalent of ten cents.
When enough money is saved in dues, the members give loans to each other for business enterprises or vital family needs.
Interest is charged, the loans are repaid, and the cycle is repeated.
After each cycle, the accumulated savings and profits are shared-out among the members according to the amount they've put in.
Simple. Powerful. Sustainable empowerment.
Savings Group Linkage Loans
A pandemic-pivot
After a successful pilot in a challenging refugee context in Uganda, we are expanding savings group linkage loans to other countries.
In this approach, VisionFund lends additional capital to established groups, helping members access extra funds for broader financial needs.
In the test, 94% of loans were repaid and the average annual share-out increased 52%.
Several years ago, a group of women at my church read Half the Sky, by Kristoff and WuDunn. The book exposed the brutal reality of what girls and women, who live in the cultures of extreme poverty, face in terms of oppression and exploitation. We knew we wanted to do something. But what?
Then, I participated in a Savings Group experience at a World Vision Strong Women, Strong World Event. It was my Aha! moment. Suddenly, I knew that women in Ann Arbor, Michigan could be a Savings Group whose mission is to provide our “dues” as micro-loans for women living in extreme poverty! What resulted was iZōsh®: Women Investing in Women, a women’s ministry with iZōsh Events modeled after a Savings Group meeting.
At our Savings Group, we connect around tables, give money, and then decide at each table who will get a micro-loan from our collective donations. We learn how a micro-loan empowers a woman even beyond the effect of the dollars. Her business success positively changes how she is perceived by her spouse, children, and community! We also learn of other impacts of living in extreme poverty. And the more we learn, the more important it becomes for us to seek to understand and not judge the culture. The Events are participatory and intergenerational!
Then it grew. We now have iZōsh International, a non-profit, whose mission is to replicate the iZōsh ministry in other Christian churches. We have three different denominational churches with iZōsh ministries in two states. To date, iZōsh Chapters have given more than $270,000 in loans to more than 800 women. God willing, we are preparing to offer this women’s ministry to a broader group of churches. For more info, visit izosh.org.
Robin is a long-time World Vision Partner, Strong Women Strong World Council Member, and the Founder and President of iZōsh® International.
You're invited
Thursday, September 23rd
Join host and Strong Women Strong World™ Council Member Gina Buser along with a dynamic panel of experts— for an economic empowerment virtual event.
Experience the premiere of our THRIVE documentary from Tanzania: The Transformational Story of Sanare and Aloisi.
Learn about COVID-19's impact on people living in extreme poverty - and World Vision's response.
Hear powerful stories from World Vision staff here and in the field.
Discover what sets this work apart: the THRIVE model - based on biblical principles.
LEARN | "Migration has the face of an indigenous woman", said Leticia Teleguario, UN Women Guatemala at last month's roundtable panel on Creating Enabling Environments for Indigenous Women to Thrive in Central America.World Vision thanks our event partners, UN Women, La Ruta-Reunion Entre Pueblos, Walmart, and USAID Guatemala for the support to carry out this event. You can listen to the conversation here.
RAISE AWARENESS| We need you! The more you engage with our Strong Women Strong World™ Facebook and Instagramcontent, the more it will be seen by others. The algorithm is real.
USE YOUR INFLUENCE | There's a clear link between education and economic opportunity. For example, an extra year of secondary school boosts girls’ eventual wages between 15–25%. In less than 3 minutes, you can ask your lawmakers to support the Keeping Girls in School Act.
SHARE YOUR RESOURCES |Your investment in the Strong Women Strong World™ Fund between July 1 and September 30, 2021 will support World Vision’s Economic Empowerment Women THRIVE programs in Honduras, Malawi, Rwanda, and Zambia.
World Vision's
Strong Women Strong World™
helps keep girls and women at the center of global community development, advocacy,
and emergency response work. Together, we can continue making a difference
in the lives of women and girls and accelerate communities’ progress out of poverty.
Thank you for your passion, your voice, and your commitment.
World Vision is a Christian humanitarian organization dedicated to working with children, families, and their communities worldwide to reach their full potential by tackling the causes of poverty and injustice.
In 2020, 88 percent of World Vision's total operating expenses were used for programs that benefit children, families, and communities in need. Learn More.
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