Microfinance for marginalized communities, Mexico

 
$33,677
$6,323
Raised
Remaining
Dec 30, 2010

December Project Update - A Very Happy New Year!

A program participant tallies savings.
A program participant tallies savings.

Year-end total savings and savings rates are in! The community banks have crunched and tallied the numbers and the results are astounding:

Over the course of the program, 179 participants in 14 banks have saved a total of 234,800 pesos (19,000 dollars). The bank with the highest total savings was Banco Unión with 31,468 pesos (2,545 dollars) saved by its members, in Los Fresnos, Hidalgo. The average savings rate per person across all of the banks was 48 pesos per week, which is about 4 dollars. Some members are now able to save nearly as much as they used to earn in an entire week due to the profits from small businesses they started with their savings!

Needless to say, our microfinance participants will be celebrating their success this New Year. We hope that you will celebrate as well for having contributed to the success of this program in 2010, and will consider making a recurring donation to support the program’s growth in 2011. Happy New Year from IMIFAP-“I want to, I can”!

 

________________________________________________________________________________


Ya se calcularon los totales y promedios de ahorro de los bancos comunitarios. Los números te asombrarán:

179 participantes de 14 bancos han ahorrado un total de 234,800 pesos al final de este año. El banco que más pesos ahorró fue Banco Unión en Los Fresons, Hidalgo con 31,468 pesos ahorrados por sus miembros. El promedio de ahorro de cada participante a través de todos los bancos era 48 pesos cada semana. Algunos miembros ahora pueden ahorrar casi tanto como lo que solían ganar en una semana debido a los ingresos de los pequeños negocios que empezaron con sus ahorros.

No cabe duda que nuestros participantes del programa de microfinanzas estarán festejando sus éxitos en vísperas de este Año Nuevo. Esperamos que celebres también por haber contribuido al éxito de este programa durante el 2010 y que consideres hacer una donación recurrente para apoyar al crecimiento del programa en el 2011. ¡Feliz Año Nuevo de IMIFAP-“Yo quiero, yo puedo”!

Links:

Comments:

About Project Reports

Project Reports on GlobalGiving are posted directly to globalgiving.org by Project Leaders as they are completed, generally every 3-4 months. To protect the integrity of these documents, GlobalGiving does not alter them; therefore you may find some language or formatting issues.

If you donate to this project or have donated to this project, you will get an e-mail when this project posts a report. You can also subscribe for reports via e-mail without donating or by subscribing to this project's RSS feed.

Retired Project

This project is no longer accepting donations.

Still want to help?
Support another project run by Instituto Mexicano de Investigacion de Familia y Poblacion - IMIFAP that needs your help, such as:

Where is this project located?

Map of Microfinance for marginalized communities, Mexico