College of Charleston Microfinance March 2012 Honduras

Affiliated Organization: Global Brigades USA
Group: Microfinance Brigades at College of Charleston

Volunteer Activity Description
Volunteers on a Microfinance Brigade spend seven days in a rural community of Honduras. Prior to the brigade, GB staff trains community leaders who act as the executive board members of the community bank called the Caja Rural. Throughout the brigade, volunteers divide into groups where they visit several families in their homes. During the community visits, volunteers develop an understanding of the families’ ways of life, aspirations, and financial literacy. Following the visits, the students hold a community meeting about the Caja Rural focused on topics such as budgeting, savings incentives programs, and loans. At the end of week, students determine how they will allocate their CIF(community investment fund), whether it may be to an individual family or a lump sum donated to the Caja. One of the major advantages of the GB microfinance model is that the Cajas Rurales are entirely owned and operated by the communities. Therefore, all of the community members have the opportunity to benefit collectively, and the students work directly with individuals empowering them to become more financially stable and establish economic growth within their communities.