Microfinance

Empowering those without access

We are currently on the lookout for new talent! Click here for a list of available positions. If you have any questions about the Microfinance Branch, feel free to message or email Rose, our Director of Microfinance, at microfinance@monashseed.org.

ABOUT US.

 

The Microfinance Branch of SEED aims to raise awareness of the socio-economic benefits linked with Microfinance.

 

We educate students about the successes and limitations of Microfinance, and the importance of financial literacy.

 

We equip students with the necessary skills to participate in hands-on projects and contribute to the development sector.

 

We engage with students and the community through our international impact projects, domestic initiatives and events that share a common goal in creating positive social impact.

 

Our international projects include the Cambodia Impact Trip and the Fiji Impact Trip. Currently out domestic focus sees us partner with Opportunity International on their youth engagement program, as well as facilitating events on campus such
as the Global Microfinance Case Competition.

SO WHAT IS MICROFINANCE?

Muhammad Yunus who opened the Grameen Bank in 1983, envisioned that his bank would extend banking facilities to disadvantaged rural men and women, to eliminate the risk of borrowing from opportunistic money lenders, and to provide women with credit giving them the opportunity to have a greater contribution and influence in the community.

 

  • The provision of financial services to low-income individuals or groups who would otherwise have no access to these vital services.
  • Microfinance institutions are able to provide savings accounts, microinsurance, micropensions, fund transfers, remittance products and non-financial services in addition to micro loans.
  • Normally, microloans are given to groups, to minimize risk and help borrowers stay on track with repayments

 

We believe that Microfinance, in combination with financial education can provide individuals with a platform to achieve economic empowerment. Through our projects and events we challenge students to question whether microfinance always works, explore potential flaws that exist in the microfinance industry and market, and to consider how social change can be measured to ensure our projects are making a real impact.