Commitment Savings Products

Making a voluntary commitment helps people resist the temptation to spend
Commitment Savings

The Challenge: Individuals engage in bad habits or are in unfavorable positions, and haven’t been able to commit to change. 

Many assume that the poor cannot save because they only have enough resources to meet their immediate needs. While informal savings groups exist in many forms, there is a tendency to underutilize formal savings accounts despite benefits from the added security of holding money in a bank. Many poor do not save with banks because they do not know how, feel intimidated by banks, or find it inconvenient to go to a branch and wait excessively to complete simple banking transactions.

Learn More >

Proven Impact Book

More than good intentions:

Karlan and Appel combine behavioral economics with worldwide field research that takes them into villages across Africa, India, South America, and the Philippines, where economic theory collides with real life.

Learn More

Project Partners

Green Bank of Caraga, Philippines

A large, private, rural bank with operations predominantly in Mindanao and the Visayas regions of the Philippines. Through a microfinance unit established in 1999, Green Bank lends capital to poor rural and semi-urban micro-entrepreneurs.

First Valley Bank, Philippines

Established in 1956, the bank serves local communities in rural areas of Western Mindanao. Through expanding access to financial services for a wide range of population, the bank develops and carries out programs and policies that support local economic development, across 16 branches and serving over 3000 microfinance clients.

Empowered by:
Advomatic
Birocreative
Copyright © 2011 Innovations for Poverty Action. All rights reserved.