Commitment Savings in the Philippines

The Microcredit Summit Campaign:

Read this blog about commitment savings in the Philippines — and join us in Manila this October 9-11 to see the projects first hand — http://partnershipsagainstpoverty.org/field-visits/

Originally posted on Truelift:

Adapted Products series: Services that meet the need of the Poor
Our Poverty-focused Microfinance Community of Practice (PovCoP) will be exploring adapted products over the coming months in a series of posts, group discussions, and interviews. We’ll start with a few case studies and learn what made each project a success. Please help broaden our understanding by sharing your own experiences with the community as well.  For more information on adapting microfinance products globally, take a look at CGAPs recently released Better Insights for Better Products.

Commitment Savings in the Philippines
From 2000-2003, the Green Bank of Caraga and researchers from Innovations for Poverty Action worked to design and implement a commitment savings product called a SEED account (Save, Earn, Enjoy Deposits) for borrowers in the Philippines.  This product was different than traditional savings products due to a commitment on the part of customers to restrict access to their savings…

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