Cufa’s Female Financial Empowerment program was started in Myanmar using concepts from our Credit Union Development program. The aim of the program is to develop the financial education of women in rural areas and provide the tools to empower them. This can be through support, financial services and business skills.
Recently we caught up with an entrepreneur from the program to discuss how she is going. This is how it went!
Tell us a little bit about yourself, where are you from?
“Hi. My name is Ma Thin Thin Oo and I live in Patauk Tan village in Myanmar with my husband and daughter. I recently turned 27 and I earn our main income through the grocery store that I own.”
What was your situation like before you joined the program?
“Well before Cufa even arrived in my village I didn’t know about the important role that savings played in so many parts of people’s lives! I just had no idea why I should be saving and what I would be saving for.”
What sort of activities were you involved in when you joined the program?
“I joined the program at my local community-owned bank and began attending the self-help groups. In these, I learnt about financial literacy and began to start saving money which I put into my new account. I was given a passbook which let me track my saving and interest. It makes me happy whenever I open it and see how well I have done!”
How have you benefitted from the program?
“Now I am very clear on how to save and things like interest and profits. I can easily explain it to others and recently I got a loan from my community-owned bank to use to improve my store. This has also helped me improve my profits.”
When did you really notice the program having a bigger impact on your life?
“In March 2018 when the community-owned bank started I noticed with other villagers the benefits as we had a place to save our money and we feel a part of it as it is community-owned.”
Have you been able to give back to the program at all?
“Aside from developing my skills and work ethic, I have helped and supported other villagers. I also convey the great news and achievements of the community-owned bank to other villagers who want to know more about the benefits of savings.”
Is there anything else you would like to share about your experiences?
“This program has been able to help everyone in our village providing systematic training sessions on topics like saving product development, loan product development, saving mobilization and more. By attending more of the training sessions held by Cufa staff I have a better and better understanding of financial topics and this is very helpful for my household. Thank you Cufa!”