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Savings groups are one of the most consistent and sustainable platforms for community programming across many sectors and contexts. Currently, there are more than 15 million members in savings groups in more than 73 countries around the world.1 These groups are overwhelmingly made up of poor, rural women, and provide a critical engine for economic opportunity, source of social solidarity and safety net for many families in vulnerable situations. These groups have proven that they are resilient and resourceful. Often, they at the frontlines of their local response to crisis.
COVID-19 poses crucial health and economic risks for Savings Groups as markets falter, mobility is restricted, and community gathering is restrained. Especially as the majority of members are women, they are likely to be primary caregivers in health crisis, which puts them at special risk of additional burdens. These tips will help implementers consider how best to support savings groups and their members during this crisis. The tips also address how to support savings groups as leaders of community-level response efforts and maintain safety nets. The recommendations here draw on past experience working with savings groups during times of crises including conflict, natural disasters and epidemics like Ebola. Given the importance of savings groups in CARE’s work, and the scope of 8.4 million savings groups we have worked with since 1991, CARE is releasing this guidance immediately to support our teams. We are working with the SEEP network and others to craft industry-wide guidelines as soon as is feasible.
This tip sheet is specific to working with savings groups. It is not meant to stand alone. It should be considered as part of a broader emergency response plan in line with CARE International’s Covid-19 Program Guidance. Our first priority is Do No Harm and protecting the safety and health of all of the people we serve and our staff. At the same time, we want to support groups to find solutions that will allow them to continue benefits from savings groups that are key safety nets in this crisis.