Savings & Loans Groups Take Off !

Savings & Loans

ROWAN has created a Savings and Loans Association for local community members to learn how to save and empower their families! Training came from Care International in Uganda.

Here is how ROWAN Savings & Loans Group works:
Step 1: Friends create a Savings and Loans Group, no more than 20 members.
Step 2: A Constitution is written and signed by all members including rules and regulations of group. Each group member has a role to play: either a key holder, a box holder, a money counter, the chairperson, etc.

Step 3: Each person brings 1,000-5,000 Shillings (equaling .50-2.50 USD) per week, which is documented

Step 4:  The goal is to have the money go out in the form of a small loan to group members, with 10% interest. Each member who desires a loan must apply and have a unanimous vote from the group.
Step 5: The 10% interest must be paid back each week, but the loan must be paid back in 3 months.
Step 6: As money is accrued from interest, the group gains profit for future loans.
Step 7: Welfare account is used for people who are in dire emergencies and need a loan without interest. Must have unanimous vote!
Step 8: After 6 months, most groups have saved up to 1,800 USD and each individual is flourishing in a new small business!
Currently ROWAN has 4 Savings and Loans groups, with more starting every day! This is all part of our self-sustainability plan and process for ROWAN members to empower their families and eventually graduate from our program!
Pastor Paul, Founder of ROWAN calls these groups “The backbone to the ministry.”


“Our passion is to create a culture of savings in our rural communities. Once we have done that, we really have done something remarkable.” -P.Paul

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