VJN’s Initiation and Strengthening of Group Saving and Loan Associations (GSLA) is a community-driven financial empowerment initiative aimed at fostering a culture of saving, financial responsibility, and economic collaboration among youth. This program encourages young people, particularly those in vulnerable financial situations, to form and manage Group Saving and Loan Associations (GSLA) as a means of improving financial security and accessing capital for income-generating activities.
Through this initiative, VJN trains youth on the principles of group savings, financial record-keeping, loan management, and investment strategies. Participants learn how to collectively pool their resources, establish structured saving mechanisms, and provide small loans to members in need of financial support to start or expand their businesses. These associations not only enhance financial inclusion for youth who may lack access to formal banking systems but also promote a sense of shared responsibility and mutual support within communities.
Beyond financial literacy, the program also strengthens GSLA groups by providing mentorship, leadership training, and linkages to microfinance institutions and other funding opportunities. By fostering well-organized and sustainable savings groups, VJN enables youth to build strong financial habits, reduce economic vulnerability, and create pathways toward self-sufficiency. The long-term impact of these associations extends beyond individual financial growth to broader community development, as empowered youth contribute to local economies and drive social change through collaborative economic initiatives.