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Applied in 2004

The Network Savings and Training Program

Enterprise Development International

Program Facts

  • Paid (FTE) Staff Working: 1
  • Program Participants Last Year: 42
  • Meets about 8 time(s) with each participant per month
  • Participants remain in the program for 19 months

Volunteers

Volunteers per month: 10

Volunteers are trained:

Volunteer Training
AlwaysRarely

Volunteers are actively recruited:

Volunteer Recruiting
AlwaysRarely

Board Activities

  • Formally reviews the performance of the chief executive officer at least once every two years.
  • Formally approves the budget.
  • Ensures that arrangements with outside fund raising firms are made in writing.
  • Receives information about the financial arrangements with such firms and, if applicable, the anticipated portion of the gross proceeds that goes to the organization.
  • Has formally approved a conflict of interest policy and regularly monitors it to ensure adherence.
  • Receives, at least quarterly, the organization's financial statement.
  • Receives, at least annually, an auditor's management letter and report.
  • Convenes an audit committee.

Outcomes & Measures: (self-reported)

Outcome 1
Establish deposit-only personal savings accounts, in which participants deposit $30 a week for 26 weeks

Measure
The program opens the account for the participant; participants are required to show deposit slip at weekly meetings

Outcome 2
Open a business savings account

Measure
Program works with specific banks that provide low- or no-fee accounts, although participants are not required to use those banks. Participants must show proof of opening the account by providing account number

Outcome 3
Complete curriculum and all weekly assignments; prepare business plan; qualify for graduation

Measure
Monitored in peer groups by facilitator (leader). Groups serve as forum for sharing with each other the challenges of saving money, restructuring their finances, and starting their businesses

Outcome 4
Start their businesses

Measure
Observation and knowledge that participant started business; leaders would also know if participants sought loans via United Christian Financial Assn. or participating banks

Outcome 5
Grow their businesses; continue to apply business principles taught; become better financial managers

Measure
Program provides monthly meetings for one year after graduation to reinforce business and personal disciplines and hash out problems.

Change Process: (self-reported)

Participants meet every week for 26 weeks with their peer group and facilitator. This weekly interaction and guidance provides the instruction and support needed to complete the curriculum, draw up the business plan, meet the savings commitment, and resolve difficulties. The one-year, post-graduate training provides further support and instruction during monthly meetings. Graduates are a prime source for future business education cycles, as they make important recommendations for changes in the program and serve as mentors to new entrepreneurs.