Develop Women Savings & Credit Cooperative, Nepal

 
$7,520
$8,117
Raised
Remaining
Mar 5, 2009

20 members of 2 cooperatives participated in a 5-day refresher training in cooperative accounting.

All donations to WACN’s project are being matched 1-to-1. Through the generosity of funding provided in memory of J. Philip Stapleton, your donation to WACN will be doubled today.

Our goal is to fully fund this project. Donate now and double your impact.

WACN organized a 5-day training on cooperative accounting. Financial literacy is a key component in the success of cooperatives so group members are encouraged to make the most of these workshops. 20 women from two cooperatives participated in the training.

The main objective of the training was to update the knowledge and skills necessary to maintain a transparent accounting system. This was accomplished by reinforcing accounting principles, terms and definitions.

The training began with an introduction, during which the session participants were provided different accounting terms on a piece of paper. They were asked to introduce themselves by referencing accounting terms.

Over the 5 days the women learned how to: • Implement good accounting systems • Use debit and credit rules • Double entry and single entry accounting • Prepare a balance sheet • Prepare profit and loss accounts • Deal with depreciation • Manage loan aging • Reconcile bank and ledger records

There was also plenty of time to discuss challenges faced by cooperative accountants

At the end of the training the participants were able to return to their cooperatives to implement a double entry bookkeeping system.

Donate now and double your impact.

Jan 14, 2009

Banuhi Chudhari's Story

Our goal is to fully fund this project. Donate now and double your impact.

From Jan 15 all of your donations to WACN’s project will be matched 1-to-1. Through the generosity of funding provided in memory of J. Philip Stapleton, WACN and two other Nepal projects will have their donations matched until $25,000 has been donated between the three groups.

Help us help more women like Banuhi.

Banuhi Chudhari is a member of Bachhuli Nari Chetna Kendra Savings and Credit Cooperative, in Bachhuli Village, Nepal. WACN helped with the formation of this group, provided critical training, and encouraged Banuhi every step of the way.

Banuhi struggled to get the cooperative going. She said, “Twelve years ago I heard that there was a program for women, I shared this information with other women in the village, but no one was interested.” A village elder advised her not to give up and introduced her to WACN. WACN encourage Banuhi to attend some training sessions and inspired her to pursue her dreams. Banuhi has never looked back.

Illiteracy was her biggest fear and caused her to lack confidence. As a result she found it very difficult to talk of her plans to her neighbors. But she persisted and managed to create enough interest in her village that there were sufficient women to form a group.

The next step was to open a bank account for the group. The nearest bank was an hour’s walk away. On arrival, her illiteracy created another setback, because she couldn’t sign her name the banker told her she needed some photos. Banuhi was directed to the nearest photo studio. With her portrait photos she was finally allowed to open their bank account. The cooperative was official at last!

Her village buzzed with rumors about the savings and credit group. No one thought it could be successful. All the money would surely be lost. How could they possibly hope to improve their economic situation this way?

Banuhi paid no attention to her critics. She could see the real changes in women’s lives. Her confidence was growing. The money was not being mishandled but directly helping women initiate changes in their lives and incomes.

Before starting the group Banuhi’s job was to raise goats for her landlords. She was allowed to keep half of the offspring as payment. Her first loan from the cooperative was for $38. She bought two female goats. They each give birth about twice a year and would normally have two baby goats. Banuhi sold the baby goats in her village. With the extra income Banuhi leased some land to grow rice.

Recently, after a decade of gradually increasing her income and saving money, Banuhi was able to buy some land of her own. Banuhi paid $382 for 5 kattha (0.17 hectares). Banuhi was very excited to acquire the deeds for her land. She plans on farming the land and she can also use it as collateral when she wants to borrow larger amounts from the cooperative.

The village critics were wrong. With a lot of determination and key support and training from WACN, the group has succeeded.

Help us help more women like Banuhi. Donate now and double your impact.

Dec 9, 2008

December 2008 Update

WACN conducted three days of training on sustainable agriculture and environmental awareness in two Nepali communities, training over 60 participants in Farm Yard Manure (FYM) fertilizers, compost preparation and management, vegetable production, and the importance of protecting the environment. Participants learned how to build sheds to preserve FYM and compost, to make organic bio-pesticides, and to cultivate and plant vegetable seedlings. WACN members with prior training as lead farmers utilized their skills and leadership capacity to act as resource people to all participants.

Sep 4, 2008

September 2008 - An Empowered Collective Thinks Outside the Box

Members of the WACN-sponsored Hatia Cooperative successfully worked with the local utility company to introduce an innovative method to pay members’ electricity bill. The cooperative staff now collects and pays monthly electricity bills for all members, and if the bill is paid in advance of the due date, a discount is received and goes to the cooperatives. This not only saves member’s time and money, but also strengthens the collective.

Additionally, the Hatia cooperative formed a sub-committee to work for community protection from flood damage. With the support of WACN staff, the cooperative president established linkages with the Soil Erosion Department of the government, and conversations on protecting the village has begun.

Jun 4, 2008

June 2008 Update

From May 2 to May 4, 2008 WACN carried out a 3-day training on Cooperative Education, which was held at the training hall of the Community Forestry Building for the members of Nari Chetana Milijuli Saving and Credit Cooperative from the Hatia Village Development Committee (VDC). Altogether 35 women participated in this training. The main objective of this training was to make the group members understand the importance of cooperatives, its rules, regulation and working mechanism.

WACN began the training by sharing a historic background of cooperative and its origin and importance in Nepal. Following this session, WACN discussed about the importance of saving and its different forms of savings, important function of a cooperative, process of group formation and the role and responsibility of each cooperative member.

On the second day, sessions carried out were about the different types of cooperative, the principle of cooperative society and the role of members to advance the cooperative.

Finally, WACN offered training on the cooperative's social and economic role and its linkages with small groups of women. WACN emphasized that even after a cooperative has been registered it is important to continue to maintain a solid group foundation, which helps to make the cooperative strong. On the same day, WACN discussed about emerging challenges that could come up throughout this process. During the feedback session participants expressed that the training was very useful to lead the cooperative in the right track. From May 6 to May 8, 2008, a similar training on cooperative education was conducted for the members of Nari Chetana Agarbatti Utpadak Sahakari Ltd., another cooperative located from the Chucchakhol VDC. Altogether 29 women participated in the training. Field Coordinator Sakuntala Giri and Program Officer Srijana Poudel facilitated this training.

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Funded

Thanks to 121 donors like you, a total of $7,520 was raised for this project on GlobalGiving. Combined with other sources of funding, this project raised enough money to fund the outlined activities and is no longer accepting donations.

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Organization

Project Leader

Gillian Wilson

IDEX Latin America Program Director
San Francisco, CA United States

Where is this project located?

Map of Develop Women Savings & Credit Cooperative, Nepal