Membership

Savings clubs

What is a savings club?

Clubs are best described as the organisation’s heart beat. A savings club is a group of 10 to 30 people who save money together as a group. They do this in order to help one another to improve their living standards by saving money and then use it to buy important commodities for their families instead of wasting it on useless things. A savings club teaches members that it is by working together that they can help each other to solve their problems by asking and receiving advice in their daily difficulties. In this way, members learn how to develop and use their abilities and to exercise responsibility. The well-being of a Savings Club and its usefulness to the members depends entirely upon the members themselves. If they work in harmony and cooperate with one another in regular meetings, saving their small sums of money as often as they can, many benefits will be enjoyed by all members.

Who can join savings clubs?

Anyone interested in saving money as part of a group. Members are normally people who live in the same community and are willing to work together. A person wishing to become a member must be known by the community as a person who is honest, industrious and of good character.

 

How members saved their money

 

Long back savings club members used the stamp system to save money which ranged from 5c to $10.

05Savings
10Savings

Membership

SHDF strength lies on its strong membership base across 30 districts of Zimbabwe.

The graph below shows the trends in SHDF membership and clubs between 2005 and 2014.

SHDF membership and clubs between 2005 and 2014

The graph below shows the number of females and males in savings clubs between 2005 and 2014.

The number of females and males in savings clubs between 2005 and 2014

It is evident that females are the most dominant gender. This is due to the fact that most of the households are de-facto and de-jure because some are left by their husbands as they go outside the country to seek employment or are female headed hence they join savings clubs to improve their living standards. The percentage of women in savings clubs for the period under review ranges. from 80 to 97.

The diagram below shows how SHDF membership is distributed across the country.

The diagram shows how SHDF membership is distributed across the country

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