Opening Pathways to Savings Through Technology
To help Grameen America members develop positive money-saving habits, save for their long-term goals, and improve their financial mobility we piloted an innovative savings program over the last year. After in-depth research on existing savings products and understanding the asset-building needs of our members, our Savings Program is designed to reduce barriers and nudge members towards developing strong savings behaviors.
The pilot empowered Grameen America members to start saving for their futures, with the majority of members saving for a car, home, child’s education, and retirement. For a span of a year, the pilot reached entrepreneurs in Miami, FL and San Jose, CA and resulted in:
Taking learnings from the pilot, we will roll out a flexible, free, and easy-to-use savings account that will help our entrepreneurs build their long-term financial independence and generational wealth. This innovative Savings Program will be integrated into the Grameen America app to create a smooth member experience and offer reward incentives that encourage positive saving behaviors and milestones. It will also automate back‑end processes for accurate, efficient operations and be supported through education and information delivered by our field team network.
“Savings helps to achieve financial independence and create a better future for ourselves and our families. I used to have different bank accounts, but not a specific savings account.”
“It had never occurred to me to save money before. But now I have savings with Grameen America. It keeps me motivated to save for retirement.”
99% of Grameen America entrepreneurs are using and relying on the Grameen America app across the country as an accessible channel for program information, with 88% of members applying for their loans within the app. To continue centralizing the member experience, the Savings Program was integrated in the member mobile app in February 2026. Grameen America added a savings section to the loan repayment interface in the mobile app to build upon the established weekly loan repayment discipline that our members already exhibit, reinforcing savings habits and simplifying the act of depositing.
The first iteration of the Savings Program in the mobile app focuses on three main features:
Account opening: enrollment, beneficiary designation, and savings goal selection;
Balance check: deposit activity, real time balances updates, and savings goal tracker;
Withdrawals: requests and reason for withdrawals.
Integrating the Savings Program into the app makes it easier for entrepreneurs to make deposits, access their savings account, and take ownership over their own asset-building. By the end of 2026, Grameen America’s Savings Program aims to reach 16,000 entrepreneurs across 5 locations with a goal of 4,000 active savers. By 2028, the Savings Program is projected to be available for all Grameen America members across the country.