Successful savings and credit experience in rural areas of Yaracuy

Abstract

Rural savings banks are self-managed community organizations that consolidate financial capital through savings and loans. They are managed by their members based on trust, mutual respect, and solidarity, generating opportunities for individual and collective support for the diversification of personal, productive, and commercial activities, among others. They offer financing services that members receive to improve their quality of life and meet their needs. These types of associations have been developing to address the financial difficulties that exist in rural areas, becoming grassroots social institutions with much greater sustainability and solidity than other organizations.