On October 30th and 31st, the Barichara Regenerative Foundation hosted the CREAMOS Territorial Foundation from El Tambo, Cauca. For two days, they shared with women, producers, and entrepreneurs from Barichara how local savings groups operate, a solidarity-based alternative to predatory lending practices.
It is estimated that around 500 local savings groups operate in El Tambo, and seven of them are part of the CREAMOS Foundation ecosystem. These are groups of fewer than 20 people united by trust, who share a rural community, a trade, or a business venture. Each group defines its own rules: the value of each contribution (which they call a “share”), how often they save, and what the loans are used for. Each person can borrow according to their savings, and the money always circulates within the group. If someone is unable to pay due to unforeseen circumstances, the group supports them with raffles or contributions. In this way, saving also becomes a community support network.
“It has been very satisfying to see the growth of women, men, and young people around saving and a supportive group that builds trust. In turn, their businesses grow and their families” quality of life improves.” – Margarita Solarte, Creamos Foundation, El Tambo, Cauca.
In Santander, predatory lending practices are still prevalent, and many farmers and entrepreneurs lack assets to secure a bank loan. Therefore, these cooperatives can be an alternative.
The workshop was attended by suppliers and producers from Casa Común, members of Mujer y Vida and a regional women's network, as well as interested residents. A pilot program will be conducted with these groups to determine if the model works and can be expanded throughout the municipality.
“You can change a culture and a belief that credit is useless because it will harm you, when in reality, generated in this way, in a community and solidarity-based way, it can work very well.” – Vanessa Luna, workshop participant.
The exchange also went in the other direction. The women from El Tambo visited the El Totumo Reserve and the El Naranjito farm, where syntropic agriculture is practiced, and they visited the Biopark, located in the town of Barichara. In the Santa Elena village, they learned about the Aguas Cristalinas community aqueduct and the Raizagua project. We also told them about the participatory governance models we explore at the Foundation, such as Ciclo Vivo, where resources are distributed collectively among different initiatives.
“This exchange between territorial foundations strengthens and multiplies the community philanthropy and profound transformation work being done at the level of the National Movement of Territorial Foundations,” said Santiago Cifuentes, Coordinator of the Barichara Regenerative Foundation.
In Barichara, a seed of trust is beginning to germinate, the possibility that everyone's savings will stay in the territory and make it grow better.
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