Read this clear, non-technical explanation of how and why CRS microfinance starts with savings, rather than loans, to build financial independence. Photo by Sara A. Fajardo/CRS
Saving for a Pile of Bricks
These women turned their savings into a pile of bricks from which they will build a better future for their children.
Lessons in Savings and in Life
In the Dominican Republic, a financial program builds savings and confidence for women in poverty.
An Unexpected Return on Investment
Francoise Uwimana made more than money from a SILC loan, she made a friend.
Microfinance in Mexico: Women Bank on It
Flor Cruz worked long hours to provide for her family. Now, thanks to her SILC profits, she started a business and works from home.
Use these expert resource to learn more about CRS' microfinance and savings group programs.
Use these related links to learn more about microfinance and savings groups.
Five Facts About Microfinance
- CRS microfinance programs have served more than 1 million people in 35 countries.
- CRS-supported savings groups have saved more than $10.7 million.
- It costs as little as $18 per person to provide proper training to a savings group.
- 2.5 billion adults do not use formal financial services to save or borrow money.
- More than 2.7 billion people live on $2 or less a day without good access to small loans.
Meet the people of Eldoret, Kenya whose lives have changes after beginning SILC groups throughout their community.
Because of your support, CRS' microfinance programs have grown to help more than 1 million people in 35 countries.
Thanks to a CRS microfinance model based on personal savings, 1 million members are increasing their financial security.