About Village Savings and Loans Groups (VSLAs)
Members save by buying shares in the association at a weekly meeting. The price for a share is determined by the association and members can borrow up to a maximum of three times the value of their own savings. Some of the associations also have a Solidarity Fund, which is used to help members in situations of distress – with or without reimbursement.
Each member has their own personal account book, where the purchase of shares and credits is registered– at the beginning of each new cycle of payments, these are also noted on a board to ensure transparency. All account books and money are kept in a locked box safeguarded by members of the association, who are not a part of managing the loans and purchases. These are important measures as they guarantee that transactions do not take place outside of meetings and prevent the falsification of records.
Read more about how DRC works with economic recovery here: https://pro.drc.ngo/what-we-do/core-sectors/economic-recovery/