DINAGAT ISLANDS – Members of the Arellano Fisherfolk Association (ARFA) in Barangay Arellano, Libjo, Dinagat Islands, are strengthening their financial stability through a Barangay Savings Club supported by the Bureau of Fisheries and Aquatic Resources (BFAR).
The initiative has helped transform a simple savings practice into a collective financial resource, allowing fisherfolk members to gradually build funds through regular contributions.
Through the savings club, association members are encouraged to develop responsible saving habits while working together toward greater financial security.
The program also promotes cooperation and financial discipline among fisherfolk, providing a community-based approach to managing resources and preparing for future financial needs.
For small-scale fishing communities, savings initiatives can help households become more financially resilient, particularly during periods when fishing activities and income are affected by unfavorable weather conditions.
ARFA’s continued participation in the program highlights the potential of community-driven savings initiatives to strengthen local fisherfolk organizations and encourage financial independence.
The initiative forms part of BFAR’s efforts to support the livelihoods and economic well-being of fishing communities.
