Fishermen’s Savings Clubs from Guatemala Participate in Binational Meeting in Honduras

Partner: Instituto de Investigaciones Aplicadas al Ambiente y Desarrollo (ICIAAD), Guatemala.

On October 17 and 18, 2024, artisanal fishermen from the savings clubs “Nuestro Futuro” (El Jiote-Pasaco) and “El Safari” (Aldea Casas Viejas, Chiquimulilla) participated in the First Binational Meeting of Savings Clubs from Honduras and Guatemala. The event, held in Omoa, Honduras, was facilitated by Rare Centroamérica and the Centro de Estudios Marinos (CEM).

Savings clubs offer an innovative approach to managing funds in fishing communities, providing financial resilience during crises like the COVID-19 pandemic.

Over two days, Guatemalan representatives learned from the experience of the savings club “La Milla 3”, which is now in its ninth savings cycle. Members of La Milla 3 shared the personal and community benefits of being part of a well-established savings club.

Participants also engaged in financial literacy activities, strengthening their understanding of savings methodologies. These sessions fostered the exchange of ideas and strategies to improve financial management in their communities.

Returning to Guatemala, members of “Nuestro Futuro” and “El Safari” brought back new strategies to enhance savings efforts in their fishing communities, including implementing updated savings rules and applying methodologies learned during the meeting.

As Fernando Rizo, from the savings club Nuestro Futuro, reflected:
“We are the ones who limit ourselves. Seeing the progress of the La Milla 3 club, we know we can reach their level—and even surpass it!”