VSLA Annual Report 2025

From savings groups to shaping markets: The VSLA Economy

For more than 30 years, community alternatives to banks known as Village Savings & Loan Associations (VSLAs) have enabled women to pull themselves and their families out of poverty.

Over this time, we’ve seen 30 million members across 67 countries amass more than $11.5 billion in cumulative savings.

Today, women who belong to savings groups no longer see themselves as struggling below the poverty line. They are business owners, community leaders and more, poised to take their successes to the next level.

In our 2025 Annual Report, we reflect on what it takes for women to make this shift from saver to entrepreneur and how CARE’s role has evolved to meet these needs. Our successes as a convener and influencer are inspiring others to scale the positive impacts of savings groups, unlocking new kinds of partnership, and shaping markets as women’s ambitions grow.

From our CEO

Read Michelle Nunn's reflections on the power of women-led microenterprises.

From the women we serve

Hear from four enterprising women in very different places whose stories all began with a savings group.

$1.8B

saved last year

$105M

in micro-loans last year

Our impact potential
If we continue to scale support for savings groups, assist savers to become entrepreneurs, and build our network of private sector partnerships that connects members to innovative digital finance, this could lead to:

6M

potential new jobs

53M

savers connected to national economies

$1.6B

in capital unlocked for microentrepreneurs

Even after CARE's support ends, we will keep growing. We are now women of economic freedom.

– Yuditha, Tanzania

Savings group chairperson, farmer, and co-owner of a tractor hire business