Informal saving bank, an option for economic self-support in low-income sectors

Mariana Marcelino-Aranda, David Muñoz Marcelino, Gabriel Salvador Fregoso Jasso

Abstract


Introduction: Poverty harms people by limiting the possibility to cover their basic needs and, in many cases, access to formal financing systems. This leads people to organize themselves in community self-help structures to access savings and credit services. In order to understand the dynamics of the operation of these self-help structures, this research allows us to know in detail the operation of an informal saving bank, the economic benefits that are generated within its participants and similarities with the data from the National Survey of Financial Inclusion (ENIG) for the year 2015.

Method: Descriptive study with a qualitative method of case study. The fieldwork took place on situ for 50 weeks. Documentary and internal records analysis, application of interviews, questionnaires and direct observation.

Results: The 50% of the members of the Informal Saving Bank use the money to pay debts versus the 33% of the national level. Women are who use their savings and earnings to increase your return on performance through investment or micro-business creation. People who obtained a higher passive rate were 32% and the lowest 21%. Among the 22 members of the CAI, savings of $ 160,100.00 were obtained with a loan amount of $ 255,500.00.

Discussion or Conclusion: The demand for financial services of the low-income population not served by commercial banks encourages the emergence of entities outside the formal structures of the financial market. These informal systems offer flexible savings and credit services according to the needs and expectations of their members.


Keywords


saving bank; poverty; microfinance; saving; credit; National Survey of Financial Inclusion; indebtedness; return rate; bank loan; commercial bank; financial market

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DOI: https://doi.org/10.21640/ns.v12i24.2264

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