Bright Hope’s partner churches in rural Haiti have created Savings Groups that offer financial education, friendship and a place for members to save their earnings. Within each self-governing group, members contribute weekly to the group’s savings. In addition, Bright Hope adds capital to increase their ability to provide personal loans. Members can then request loans from their group at a fair interest rate, enabling businesses to develop and profit.
Marcellus Rose, a member and treasurer of one of the savings groups, shared: “Before the creation of this group[CG1] , we often resorted to usurious loans to finance our needs. But now, all the members are united and supportive, and the loans granted to us are of great use to us and women in particular.”
[CG1]For public I would say savings group. Mutual is confusing and not a term Bright Hope uses.
In 2024, we would like to start eight new Savings Groups throughout Haiti. We need to raise $2,500 per group or $20,000 total to do this. Your gift will continue equipping impoverished families in rural Haiti to break free from the grip of poverty and build a sustainable future. And if this program receives full funding, additional resources will support similar strategic projects.