27.11.08
Santisuk (Mae Pung) in Phrao
The leaders of the Mae Pung Village Bank record their members' savings.
Mae Pung Village Bank's first membersDuring the past month, the staff of Common Interest have been busy researching new areas for expansion. Most of these areas are remote districts with significant hilltribe populations. However; in some of our existing areas, villages have been requesting our programme as well. Mae Pung (Santisuk) is an example of a Thai village that contacted us to start a village bank. After two informational workshops, interested members met today to vote on leadership and bylaws. The group has agreed to each save 50 baht ($1.42 USD) per month. Next month, they intend to use their savings to provide loans back to the members at an interest rate of 1% per month. Common Interest has not provided funds to this group of as Nov 2008. If the Village Bank can save and lend together, they will be eligible for additional funds sometime in the New Year. All the best Mae Pung!
10.11.08
Baan Sop Leum Village Bank
Baan Sop Leum is located in the Mae Taeng district of Chiang Mai not too far from a unique tourist site called Pun Pun. A group of 21 women started saving together in mid-July and had accumulated over 3000 baht by mid-October. Rather than putting the money in the bank, the group lent the money back to some of its members for farming expenses. In November, the group requested additional funds from our programme in order to help cover the demands from the group during their early start-up. Common Interest provided a loan of 105 000 baht ($3000 USD) to the group which is to be re-paid in 6 months time.
