ACAF award Giordano dell'Amore Best Microfinance Practices

Winkomun

winkomun: a community investment system

Imagine a small box and a group of people who meet regularly to place their savings in it. This box will serve as a common fund for those who need to access to small loans. These loans could be used to pay a domestic breakdown repair, school books for children, unexpected bills or even start a small business.

These people have nothing to do with the world of finance, but all of them are able to control this system of savings and loans. They decide themselves the rules of the game and manage all group movements.

The key element that makes the system work is trust among people. This is not about a financial community, but rather a group of friends and acquaintances. The savings belong to all members and all of them are responsible for what they do with them.

This methodology based in saving groups is used worldwide, and turned out to be a powerful tool with which all communities can improve their situation and progress economically, without any help from outside.

Winkomun is a free platform that offers support and tools to learn the methodology, create groups and contact groups that operate under the same system worldwide. It is easy to learn, and creating a community even more so. All that is needed are people who want to help each other and to build a common project.


Case studies

Winkomun name:
Khewel
Current members:
18
Creation date:
june 2006
Location:
Molins de rei, Barcelona
Winkomun name:
CafMex
Current members:
8
Creation date:
october 2012
Location:
Barcelona
Winkomun name:
Aiklengis
Current members:
26
Creation date:
april 2012
Location:
Indonesia
Winkomun name:
Atarraya
Current members:
15
Creation date:
april 2010
Location:
Zaragoza

winkomun communities

How does a savings group work?

how it works

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Advantages

Winkomun is fun. The methodology that it uses, based on the savings groups, is useful, and often the best way to resolve unforeseen or economic difficulties. The benefits of this methodology are as follow:

  • Stimulates savings. Capital grows an average of nearly 350% in the first year.
  • Provides instant access to small loans at low interest
  • Strengthens community union, and allows the creation of support networks
  • Fosters trust, empowerment and leadership
  • Generates profits that are distributed among the members only
  • Represents an excellent system for financial education
  • Provides access to services such as insurance, housing, etc.