Community Savings Groups

Residents of rural areas in Baja California Sur Mexico often have to travel more than two hours each way to access financial services such as savings accounts or small loans that can improve their lives. Banks are often reluctant to service them due to their small amounts of savings.

When these residents pool together their savings however they can better manage crises invest in their small businesses and gain financial independence. The IAF supports community-led solutions to promote inclusive economic development.

Our grantee Pedazo por Pedazo un Mundo Mejor Philanthropiece AC (PpAC) is identifying training and mentoring local leaders to help rural communities in Baja California Sur form savings groups that provide financial services while also building trust and accountability among their members.

PpAC is also training local promoters to replicate the community savings groups model in new communities allowing more local residents to provide for their own financial needs.