The Keys to Striking the Balance: An Introduction to Savings Mobilization
This book shares best practices and lessons learned from credit union savings mobilization programs in Latin America.
Savings mobilization refers to creating safe and sound institutions for savers to place their deposits and expect to receive the full value of their funds, plus a real return, upon withdrawal. The World Council of Credit Unions, Inc. (WOCCU) has found voluntary savings instruments to be popular among credit union members and clients. Lessons from the book include:
- MFIs that seek to mobilize savings must have the vision, commitment and disposition to attract voluntary savings;
- Each institution must adapt itself to provide savings services that are competitive and meet local market needs;
- Savings institutions wanting to expand savings mobilization should examine their existing operations;
- Key features that savers seek include safety, convenience and returns;
- Institutions that choose to mobilize savings can provide higher quality as well as greater access to financial services.
The book takes readers through the savings mobilization process, and presents case studies and a toolkit of worksheets, surveys and sample forms. The methodologies and tools provide practitioners with a comprehensive, practical guide for mobilizing savings in their own institutions.
