Creamos<\/a> serves intimately understand hardship. Before joining forces with Creamos, their main source of income is mining a dangerous garbage dump in Guatemala City for objects to resell. Through Creamos\u2019 Social Entrepreneurship Program, they establish alternative sources of income, typically through arts such as jewelry-making. Hannah knew that many women in the program were bringing home paychecks that were big enough to safely support themselves and their families. But they were continually in financial crisis. Hannah and her team wanted to find out why, so they went straight to the experts—the women they intended to help.<\/p>\nLearn<\/h5>\n
\nThe Creamos team discovered a host of issues: husbands were stealing their wives\u2019 paychecks, women were targeted in their communities because their neighbors started to perceive them as wealthy, and many program participants were unable to open bank accounts because they were in debt. “Many of our women stated that they were intimidated by banks and felt that they were too complicated and \u2018just for rich people.\u2019 In conclusion, most of our participants had no option but to bring large sums of money home with them and were unable to to save their money in a secure and accessible place,” the Creamos team told GlobalGiving.<\/p>\n
Act<\/h5>\n
\nThe Creamos team began to experiment with new programs that would address the entrenched issues facing the women. They set up special savings accounts, open to all program participants. When women received a weekly paycheck, they were all given the option to save, or withdraw money. \u201cThis was very successful, and we witnessed women change their mentality from always worrying about immediate need of \u2018What are we going to eat tonight?\u2019 to worrying about future expenses for their family,\u201d Hannah reported.<\/p>\n
Creamos staff also implemented a six-week financial literacy program for women artisans. But when staff evaluated the program through focus groups with participants, they identified a major flaw\u2014after the program ended, women\u2019s new savings habits abruptly came to an end. \u201cIt was evident, that women needed more than six weeks to change their financial habits,\u201d Hannah observed.<\/p>\n
Repeat<\/h5>\n
\nThe Creamos team didn\u2019t give up. With persistence, they identified something that fostered longer-term financial health, an incentive. Now, Creamos matches 48% of whatever amount program graduates are able to save in 21-week period. Every woman in the inaugural program received a bonus and nearly 70% of participants saved every week for 21 weeks.<\/p>\n
“We have learned that our constituents know what is best. Many times as foreign staff, we come with these ideas and think they will work wonderfully with our community. Although many short interventions are evidence based, I feel they do not provide the follow-up that many vulnerable populations need.”
\n\u2014 Hannah, Creamos Project Leader<\/em><\/small><\/span><\/p><\/blockquote>\nWhat do your constituents think of your programs?