We offer a Subsidy Savings Program to encourage the habit of saving regularly. Our goal is to be a stepping-stone for community members who want to participate in the formal banking sector. This program is unique because it lets a client open a savings account in any bank they want and then receive monthly subsidies from La Ceiba. 

When a client wants to open a savings account, we help them with the paperwork and cover the minimum deposit at the bank. From then on every time a client makes a deposit in their account, we’ll subsidize it with a deposit of our own. At the end of each month we hold a group meeting. We check their deposit booklets and hold a discussion about the importance of savings.

We offer three subsidies:

  1. $5.00 in subsidy money on the day you open your first savings account with a bank.
  2. $1.30 for every deposit you make during the month. This applies to three deposits per month which means clients could earn almost four dollars or ninety lempira more towards their future. Ninety limps goes a long way.
  3. $25.00 in lottery money at the end of every quarter. We choose from a hat three names to receive the prize. First and second place get ten dollars while third place receives five. The trick is that the more deposits you make, the more times your name goes in the hat.

Our Subsidy Savings Program helps motivate clients to overcome the burdensome costs to savings like bus fare, the opportunity cost of their time, and the inconvenience of having less cash on hand.

If you would like to learn more, please Contact Us. We are happy to share!