What is ‘Savings Club’
A non-incorporated group that has opened some type of savings or other deposit account. The money in the account is the joint property of all club members.
Explaining ‘Savings Club’
“Savings club” also refers to a special type of savings account that comes with a passbook with coupons. Most accounts of this nature mature on a regular basis (e.g. annually). Christmas club accounts are an example of this type of account.
Further Reading
- Financial capability in children: Effects of participation in a school-based financial education and savings program – link.springer.com [PDF]
- Micro-finance and the Empowerment of Women: A Review of the Key Issues – ideas.repec.org [PDF]
- The impact of social and financial education on savings attitudes and behavior among primary school children in Uganda – journals.sagepub.com [PDF]
- Current account balances, financial development and institutions: Assaying the world “saving glut” – www.sciencedirect.com [PDF]
- Financial instruments of the poor: initial findings from the South African Financial Diaries study – www.tandfonline.com [PDF]
- Financial education and access to savings accounts: Complements or substitutes? Evidence from Ugandan youth clubs – www.nber.org [PDF]
- Club goods and group identity: Evidence from Islamic resurgence during the Indonesian financial crisis – www.journals.uchicago.edu [PDF]
