IMPACT MARCH 2014
EMP OWERMENT
MOTHERS KNOW BEST Bank accounts offer independence, opportunity to families
I
magine walking past a bank every day
for mothers to manage a bank account
wanting to go inside, but knowing it
for the first time. These women feel
represents a part of your society where
empowered as they see their signature
you are not welcome.
or thumbprint in ink
Many of our Unbound
on a withdrawal slip
families in communities around the world know this reality all too well. With
“The vast majority of these women have never even been inside a bank.”
Unbound,
in their name. “Many
of
these
women have never even been inside a bank,” said Dan Pear-
families can gain access to opportuni-
son, director of international programs
ties once denied them. We provide finan-
for Unbound. “It makes their world (continued)
cial literacy training and the chance
Kishtamma withdraws funds for sponsorship benefits with her son, Suresh.
MEET MERCEDES, 75, FROM BOLIVIA
GIFTS THAT GIVE BACK
Mercedes, an Unbound sponsored elderly friend, used to work long hours in a factory making alpaca (llama) wool sweaters. She now works as a kitchen assistant at a catering business.
You or your spouse may receive a tax deduction and annual income for your lifetime with a charitable gift annuity. Check out our insert for more information.
“Thanks to Unbound I no longer feel oppressed,” Mercedes said. “I know I can overcome. I have learned that it is never too late.” Read more of Mercedes’ story at blog.unbound.org
More than 28,000 sponsored friends receive benefits through child accounts in India
A social worker in India works with mothers on the process of making bank withdrawals.
(continued from front) larger — this bank they passed every day
home necessities for her child and family.
is now part of their everyday experience.”
track the account balance and approve
Next, staff members review the budget,
In countries such as India and Kenya,
withdrawals. The mothers and staff then
sponsorship benefits are distributed to
coordinate a good time to visit the bank.
families through individual bank accounts.
Staff remain on hand to offer support, if
With the assistance of Unbound staff
needed.
members, the mothers of sponsored chil-
Once the mothers withdraw the funds,
dren manage the
they
accounts until the
the
children are of age.
payments
These
bank
accounts are created to empower mothers to decide how to best use the funds
sponsorship for
development
the
“I am uneducated and I feel privileged when I see my child going to school. I dream through her.”
of
their families. Unbound respects that not every fam-
can
make
necessary and
purchases. When
Personalizing benefits a key part of program
W
e believe personalizing sponsorship benefits to help a child and family
meet their individual needs is important.
mothers direct the
Bank accounts give families the opportu-
decision-making
nity to decide how they can best use their
process
sponsorship benefits.
their
through
own
bank
accounts, they not only gain self-confidence, they also
gain access to financial services through institutions that once excluded them.
Projects in Africa and the Philippines have individualized bank accounts for benefits, though the process differs in each area. Deposits and withdrawals can also range from monthly to a few times a year. Local laws in countries such as Mexico
ily needs the same things. Families know
For Nirmala, mother of sponsored child
best what they need to survive and thrive,
Swarna in India, participating in the pro-
and El Salvador make it difficult to deposit
so we put them in charge of their funds.
cess is an opportunity to create a better
sponsorship benefits in individualized bank
In India, withdrawals are scheduled two
future for her child.
accounts. When these obstacles come up,
to three times a year to coincide with the
“The sponsorship is a blessing for
times that children’s school fees are due.
my child’s future,” Nirmala said. “I am
The process begins with every mother
uneducated and I feel privileged when
social workers or they may receive vouchers
budgeting the amount she needs for edu-
I see my child going to school. I dream
to use at local stores.
cation, health, clothing, nutrition and
through her.”
1 ELMWOOD AVE., KANSAS CITY, KS 66103
800.875.6564
MAIL@UNBOUND.ORG
families create their own shopping lists for
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©UNBOUND 2014