Village Banking - Financial Literacy, Security, and Support

The Village Banking Project aims to financially support community members through loans while simultaneously teaching skills on financial literacy and economic growth. Low-interest loans, peer-to-peer education, and belief in financial, as well as professional, growth are fundamental pillars to the development and ongoing mission of the Village Banking Project. Last Saturday, June 4th, 2022, community members who are involved in the Village Banking Project gathered to share updates and consolidate their acquired funds.

After announcing new news, events, and updates, the donation-based funds were collected. A shared community basket was passed around to each member participating in the event, and money was collected to be distributed to new incoming beneficiaries. Two community members were responsible for counting the funds and adding them to the communal bank account. The money collected will not only benefit individuals but will also be used for group projects and initiatives as needed. A small portion of the donations this year will also come from the partnership with the Colorado College GobeMed chapter and WOPLAH. This project helps to establish and grow the fundamental initiative to help community members achieve financial security and positive health outcomes.

Upon receiving a Village Banking loan, every group receives detailed training by the Youth Financial and Loan Development Officer. Trainings cover topics such as savings, investment, group management, record keeping, and entrepreneurship with the intention of ensuring responsibility and honest and productive use of funds. Additionally, the Ambassadors of Hope will conduct follow-ups throughout the year to monitor record keeping and proper bank account usage. Multiple groups have been funded so far, and we hope to continue supporting new applicants.

As believers in health and financial, social, and individual stability, we hope that the Village Banking Project will continue to grow and find support from community members, in order to promote families' economic empowerment through access to loans for farming, businesses, ARVs, and educational fees.