The article discusses how microfinance organizations are evolving to offer a wider range of financial services to low-income individuals, including savings. It provides practical guidelines for these organizations to become licensed and regulated to accept deposits from the public. The focus is on transforming NGO microfinance institutions to meet the needs of regulators and shareholders, with a particular emphasis on managing the transformation process and addressing strategic and operational challenges. Case studies are included to illustrate the process, such as how a Ugandan NGO successfully transformed into a licensed financial intermediary.