Savings and credit schemes are a significant approach in organizing the community. This facilitates the access of financial services to the poor community living in rural and urban centres of which the majority can not access the loans from financial institutions like banks due to different reasons including high interest rates and lack of collateral. Savings starts from organized groups within the targeted settlements through our mobilization efforts and later form up a network of many saving groups say the youth, women, village saving groups. The development of microcredit and micro savings products for the poor is the one of the ways of promoting informal savings-led microfinance groups that emulate and improve the lives of the rural and urban poor in Uganda. The appeal of savings and credit scheme approach is shown by the growth of these groups which now reach over 0.2 million in Uganda after only a few years of significant expansion efforts. There is need to create and expand such groups viewing them as grassroots and low-cost mechanism to provide financial services to the poor.
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