Tanzania has in the recent years kept a steady economic growth and the poverty rate has fallen significantly. At the same time, informal financial services have increased in popularity as a tool for poverty reduction. Previous research claims that gender equality will progress when economic development is taking place. But despite the economic development, the situation for Tanzanian women is still tough and the man is considered to be the head of the household. This paper aims to show why Tanzania is a deviant case regarding economic development and gender equality, and investigate how informal financial services impact women empowerment, by looking at membership in Village Community Banks. Feminist theories are used to explain why economic development and gender equality does not always have a linear relationship. It is concluded that membership in Village Community Banks have impacted the women on a personal level, enhancing self-confidence and belief. However, the gender equality within the household is not progressing due to a patriarchal social ordering, where the male is superior and the female inferior. It is not enough to focus on financial services, such as access to savings and credit, for a woman to be empowered enough to become equal to her husband.