Savings Initiative

Project Summary

Since 1991, Shishu Niloy Foundation (SNF) has been implementing its Savings Program as a key component of the Financial Inclusion and Self-Reliance Program. The initiative is designed to promote financial inclusion, economic security, and capital formation among underprivileged and low-income women. Through regular savings practices, the program empowers members to become financially self-reliant, better prepared for emergencies, and capable of investing in their future livelihoods.

The program operates primarily through two savings products: Compulsory Savings and Long-Term Savings. These services encourage disciplined financial behaviour while creating opportunities for members to access credit, accumulate assets, and improve their overall socio-economic well-being.

Project Goal and Objective

Goal

To enhance financial inclusion and promote sustainable self-reliance among disadvantaged women and low-income households through savings mobilization and capital formation.

Objectives

  • Develop a regular savings habit among members.
  • Strengthen household financial security and economic stability.
  • Build capital for future investment and income-generating activities.
  • Facilitate access to microcredit and other financial services.
  • Support members in managing emergencies and unexpected expenses.
  • Promote awareness on health, education, family welfare, and financial planning.
  • Encourage long-term financial resilience through structured savings schemes.

Impact

The Savings Program has significantly contributed to improving the financial resilience of thousands of women and their families. Regular savings have enabled members to accumulate assets, manage household expenses, respond to emergencies, and invest in productive economic activities. The program has also increased financial literacy and encouraged responsible financial management among community members.

Through regular group meetings and awareness sessions, members have gained greater confidence in financial decision-making and strengthened their participation in family and community development.

Achievement

  • Successfully mobilized savings among 75,695 active savers.
  • Maintained a compulsory savings balance of approximately BDT 233.45 crore.
  • Established a sustainable culture of savings among low-income women.
  • Expanded access to financial services for underserved communities.
  • Supported members in building capital for business, education, health care, and household development.
  • Ensured compliance with the guidelines of the Microcredit Regulatory Authority (MRA), including the provision of interest on savings.
  • Strengthened member engagement through regular group meetings and financial awareness activities.

Challenges

  • Limited financial capacity of low-income households to save consistently.
  • Economic shocks, inflation, and emergencies that affect members’ ability to maintain regular deposits.
  • Need for continuous awareness-building on the importance of long-term financial planning.
  • Ensuring financial service accessibility for members living in remote and vulnerable communities.

Learning

  • Regular savings, even in small amounts, can significantly improve household financial security over time.
  • Continuous financial literacy and awareness activities are essential for sustaining saving behaviour.
  • Long-term savings products encourage greater financial discipline and future planning among members.
  • Strong community-based group structures play a vital role in maintaining member participation and trust.
  • Integrating savings services with credit and livelihood opportunities enhances the overall economic empowerment of members.

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