What is the VSLA? The Village and Loan Association (VSLA) is a form of micro-finance managed by small communities, usually 15-30 members that intends to bring down the barriers to the access of loans since it does not require guarantees and joint liability collateral.

This training is conducted by GSAC funded by TRIAS, a Belgian NGO and WE Effect to educate farmers, fisherfolks, women and the youth to gain not only knowledge but derive income from their savings and loans. The VSLA adapts the paluwagan wherein the accumulated savings and profits are shared among members based on the amount saved and from the interest of loans.

Participants should keep in mind that GSAC and TRIAS would just guide them in creating and monitoring the VSLA. Members could draft their own constitution and by-laws. A management committee should be elected to facilitate the project of the association. In addition to this, a training on basic financial management and record-keeping was also conducted because of the increasing number of VSLA members.

As of May 2021, 9 VSLAs are now active in Sorsogon: Culasi Fisherfolks VSLA (CFVSLA) Casay Savings and Loans Association (CASLA), Carriedo Masisipag Savings and Loans Association (CMSLA),Bagacay-Carayat Savings and Loans Association (BCSLA), Bangate VSLA, Otavi VSLA, Bagacay United Farmers and Fisherfolks for Economics Reform (BUFFER Inc. VSLA), Contod Savings and Loans Association(CoSLA),Gimaloto VSLA. The VSLA truly educate the members on the advantage of savings.