Saving money without going to a bank

Americas Now

The majority of low-income Latino families in the U.S. have limited access to banks, loans or credit cards. For years, in many parts of Latin America, groups of women have been using a financial system known as a “tanda” to make ends meet. It enables them to save money and lend to each other as well.

Mike Kirsch tells us about some informal female bankers using this system in the U.S.