Posts Tagged ‘leap work’

Financial Literacy and Microfinance

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REPOST FROM THE KIVA FELLOWS BLOG

By Sheethal Shobowale, KF9, Peru

Doris, one of the loan officers at Asociación Arariwa, has been working with clients in Urubamba and Cusco for 17 years.

I sat in on one of the monthly loan payment meetings of one of her communal banks, Aguas Buenas. All members paid their monthly payments on time, but two of the members asked permission beforehand not to attend. Because of their absence, Doris commented on the importance of attending the monthly meetings, saying “No vamos a lograr nada” (We won’t achieve anything this way). She even called one of the absent members on her cellphone to remind them of the importance of attending monthly meetings.

Attendance is importance especially since during each meeting, loan officers teach a short workshop on different topics such as financial literacy, business training, family well-being or health. In this meeting Doris taught a lesson on setting financial goals. Having done some financial literacy workshops for teenagers and some credit counseling for adults in my work with the Lower East Side Credit Union in New York, I was excited and honored to see Arariwa’s financial literacy training in action, especially by a loan officer as experience as Doris.

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