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Empowering communities for financial growth

Prevail Savings Groups – A Brighter Economic Future

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Prevail savings groups

ICM empowers economic growth through our Prevail savings groups. Prevail is a multifaceted, community program that enables families in ultra-poverty to earn, save, and invest for a brighter future. Our vision for the ultra-poor is for every person to have a dependable income, access to savings for emergencies or start-up capital, and a community around them to support and encourage new economic opportunities.

See our research

Read our research about what life is like on less than 50 cents per day.

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5,283

active savings groups

$$9,816,806

total assets saved

195,784

Savings
group members

The Struggle of Living on $0.50 Per Day

For those living in ultra-poverty on less than $0.50 per person per day, every day is a financial struggle. Even basic needs often exceed a family’s available resources. A sudden crisis or unexpected event, such as a medical emergency or natural disaster, can wipe out any financial progress in the fight against poverty. As poor families are forced into debt they struggle to pay off, they live in a constant state of vulnerability.

Daily Budget

This chart represents the minimum essential consumption requirements of a typical ultra-poor family.

Ultra-poverty and Hunger

One of the most stark and tangible aspects of life in poverty is that of hunger. Without enough resources, parents are often not able to provide food for themselves or their children.

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Momprenuer and savings group start new businesses during pandemic

Many mothers from ultra-poor communities are housewives who are dependent on their husbands’ small incomes. The pandemic, which caused job and income loss, has made their situations even worse. Through ICM’s 2R (Refresh and Renew) program, we were able to help these women through a difficult time.

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A mother’s sustainable future

Erlinda was left to raise her two children on her own when her husband died more than 10 years ago. They barely survived by reselling dried fish and other goods and snacks from their town market to their community.

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The Lady Bangca Rider of Bohol

Fancy a boat for an everyday ride? While other people nowadays invest in bikes, motorcycles, and sidecars, former Transform participant Merabel from Bohol chose a boat as her go-to everyday transportation.

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ICM’s Approach to Economic Growth

ICM empowers ultra-poor communities with a comprehensive approach to sustainable livelihoods and economic development in the Philippines:

  • First, we provide training and resources to launch and maintain a
    micro-business. ICM provides participants with a small amount of
    start-up capital, in the form of “Business-in-a-Box” kits. These kits
    provide the materials participants need to launch a sustainable
    business.
  • Participants form Prevail savings groups, and each member commits
    to saving a small amount with the group each week. Each savings
    group elects its own leaders and creates its own policies.
  • Participants use their savings to invest: either in their small
    businesses, group enterprises, or in long-term home improvement,
    education, or medical needs.

Average Savings

“The Transform lessons taught me how to save. I used to be careless with money and spent unnecessarily. But now I am more prudent.”

Rosemarie Transform Graduate

“If not for Transform I would have never been able to start my business. No one would ever have lent me that amount of money. But through our Savings Group, they trust me enough to loan me as much as $1,500. Thank you ICM!”

Jennifer Saving Group Member since 2016

“To help and to be helped—this is our Savings Group slogan. Never lose hope, we just need to keep going despite trials. Always focus on finding a solution.”

FAMAS Savings Group

“We just put the money there—and it grows and grows. Profit sharing will happen in December, but I plan on investing it back into the group business.”

Jiji Savings Group Member

The ICM community is full of people who care about effective, efficient, research-backed solutions in the fight against ultra-poverty. We would love to have you join us!

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