Record share out for Helicon savings group
January 24th, 2018 Honiara - “I have managed to renovate the interiors of our family home and extend another living space downstairs from our first share out in 2016. Saving has also put my children to school as I can now meet their school fees at a nearby vocational training centre. It transformed my family’s wellbeing and changed our mindset that if we save now, we can achieve whatever we want in the future.”
Helicon Savings Group record keeper, Joyce Anilafa, echoed these sentiments when World Vision Communications spoke to her about their recent share out in January 2018. The 25-member savings group – based in Kilusakwalo community near Auki, Malaita Province – emerged from saving discussions held by World Vision Community Development Facilitator for East Malaita area program, Hermon Maelilia with few members of the group. Group members received their shares on Wednesday 10th January 2018 from a total of $120,800 Solomon dollars.
Savings and loan schemes provide an opportunity for members to have improved financial stability in areas where there is limited access to commercial banks. As part of World Vision’s Community Economic Development project, communities established a local savings group that enables them to safely save money, manage their expenses and invest in their futures and keep money circulating within the group.
They can also borrow for essential needs such as school fees, health and special events. The project also provides training and support in financial planning and budgeting. Share-out is when a savings group gave out to its members their contributions in return at the end of each year.
With most of its membership being women, Helicon members are all excited about their shares. “We ought to learn a lesson from ants. They store up food for themselves during dry weather so as not to go out looking for food again when it rains. We can also apply this simple analogy to savings in order to be successful in life. By saving now, we can send our children to school, meet our family needs and prepare for unexpected events. From our share out in 2016, I have managed to meet my family’s basic needs like clothing, food and other basic necessities,” said Elizabeth Naki, an elderly member of the Helicon Savings Group. She also thanked World Vision for the knowledge of savings that help started their savings group two years ago.
World Vision Area Manager for East Malaita, James Kwaimani Faiau encouraged the women to continue the good work of saving and share the knowledge they have with other community members in Kilusakwalo.
“I strongly encourage the Helicon Savings group to continue on with the good work done so far and work together with members of your community, passing on the knowledge about savings to new and interest members of this savings group.”
With 30 years of experience in community development in the Solomon Islands, World Vision partners with children, families, communities, governments and other partners to improve lives and overcome poverty through its Community Economic Development project and others. World Vision is dedicated to working with the most vulnerable people and serves all people regardless of religion, race, ethnicity or gender.