Evaluating the impact of Financial Education through Umurenge Savings and Credit Cooperatives (Umurenge SACCOs) in Rwanda: Randomized Field Experiment

Last registered on April 20, 2016

Pre-Trial

Trial Information

General Information

Title
Evaluating the impact of Financial Education through Umurenge Savings and Credit Cooperatives (Umurenge SACCOs) in Rwanda: Randomized Field Experiment
RCT ID
AEARCTR-0001150
Initial registration date
April 20, 2016

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
April 20, 2016, 10:16 AM EDT

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Locations

Region

Primary Investigator

Affiliation
The World Bank

Other Primary Investigator(s)

PI Affiliation
The World Bank

Additional Trial Information

Status
In development
Start date
2016-08-16
End date
2017-05-31
Secondary IDs
Abstract
Limited knowledge of financial concepts is associated with poor financial behavior such as low rate of formal savings and poor usage of bank accounts. Well-designed financial education programs have the potential to improve financial knowledge and behavior, leading to improvements in well being. In partnership with the World Bank and the Government of Rwanda, IPA is evaluating the impact of financial education, delivered through SACCOs, on clients’ financial knowledge, skills, attitudes, behavior, and overall welfare. The study design will measure direct effects of financial education as well as test variations in delivery channels.
External Link(s)

Registration Citation

Citation
, and Bilal Zia. 2016. "Evaluating the impact of Financial Education through Umurenge Savings and Credit Cooperatives (Umurenge SACCOs) in Rwanda: Randomized Field Experiment." AEA RCT Registry. April 20. https://doi.org/10.1257/rct.1150
Former Citation
, , Bilal Zia and Bilal Zia. 2016. "Evaluating the impact of Financial Education through Umurenge Savings and Credit Cooperatives (Umurenge SACCOs) in Rwanda: Randomized Field Experiment." AEA RCT Registry. April 20. https://www.socialscienceregistry.org/trials/1150/history/7804
Sponsors & Partners

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Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2016-08-16
Intervention End Date
2016-12-06

Primary Outcomes

Primary Outcomes (end points)
Selected key outcomes of interest are:

- Use of budget / savings plan (from survey data)
- Know responsibilities of SACCO membership (from survey data)
- Prevalence and rate of formal savings (from survey & SACCO reporting data)
- Account dormancy rate (from SACCO reporting data)
- NPL rate (from SACCO reporting data)
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Researchers will evaluate impact of the training received after three months and nine months, via face-to-face surveys with SACCO members, as well as data from the SACCOs themselves. Researchers have randomly assigned 200 SACCOs (4,000 individual clients), to different groups. About 130 SACCOs will participate in the first phase of the intervention and 70 more SACCOs will that will receive the training in later phases will serve as comparison SACCOs in the first phase.
The first phase of the impact evaluation will assess the effectiveness of the program in improving the financial capabilities of SACCO members. The results will inform the design and implementation of later phases.
Experimental Design Details
Researchers will evaluate impact of the training received after three months and nine months, via face-to-face surveys with SACCO members, as well as data from the SACCOs themselves.
Researchers will randomly assign 200 SACCOs (4,000 individual clients), to three groups:
• Group 1: SACCO clients will receive the full financial education program. The course will be taught by three members from each SACCO, who will be selected by SACCO staff and trained to teach the program. 65 SACCOs
• Group 2: SACCO clients will receive the full financial education program. The course will be taught by a manager and loan officer from each SACCO, and a community member, who will all be trained to teach the program. 65 SACCOs
• Group 3: These SACCOs will serve as a comparison group, and will only receive training after the study is complete. 70 SACCOs

The first phase of the impact evaluation will assess the effectiveness of the program in improving the financial capabilities of SACCO members. The results will inform the design and implementation of later phases.
Randomization Method
Randomization using stata do-file.
Randomization Unit
The unit of randomization is an Umurenge Savings and Credit Cooperative (SACCO).
Was the treatment clustered?
Yes

Experiment Characteristics

Sample size: planned number of clusters
200 SACCOs.
Sample size: planned number of observations
4000 individual clients of SACCO.
Sample size (or number of clusters) by treatment arms
65 treatment 1, 65 treatment 2, 70 control
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Accounting for sample design and clustering, the minimum detectable effect size (in standard deviations) for main outcomes is 0.70. • Number of randomized groups (J): 200 • Proportion treated: 0.67 • Number of individuals per randomized group (n): 20 • Intra-cluster correlation: 0.13
IRB

Institutional Review Boards (IRBs)

IRB Name
Rwanda National Ethics Committee (RNEC)
IRB Approval Date
2016-03-22
IRB Approval Number
174/RNEC/2016
IRB Name
Human Subjects Committee for Innovations for Poverty Action IRB-USA
IRB Approval Date
2016-02-18
IRB Approval Number
11409

Post-Trial

Post Trial Information

Study Withdrawal

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Intervention

Is the intervention completed?
No
Data Collection Complete
Data Publication

Data Publication

Is public data available?
No

Program Files

Program Files
Reports, Papers & Other Materials

Relevant Paper(s)

Reports & Other Materials