Equip A Bank
Computer for finances
Fundefir: Foundation for Rural Finance
In poor communities, Fundefir’s community banks typically manage their finances using spiral notebooks. In such a notebook, the bank leaders create a written record of bank deposits, loans, loan payments, dividends, etc. While this method can function, it is easy to record a number incorrectly, sum two numbers incorrectly, or commit other such errors. Also, when banks have more members, it becomes increasingly difficult to accurately record their financial transactions.
Your gift will help purchase a computer for a communal bank. The computer will be used to manage and computerize the bank’s finances, in particular its investment and loan portfolio. With a computer, the bank will be able to use software designed by Fundefir to keep track of all activity – deposits, loans, loan repayments, dividends, etc. This program will help alert bank leaders to any errors in the bank’s finances, and automatically sums figures to provide important information such as the amount of capital a bank possesses and the amount of money currently extended in loans. Your gift will help a community bank turn from a fledgling financial institution into an established, successful bank.