Social impact has always been at the forefront of the microcredit/microfinance movement. Microcredit was introduced as a major tool of development policies because its early promoters argued that it could alleviate poverty. This claim was an overstatement because what microfinance has done is more modest, as numerous recent impact studies show. However, this does not mean microfinance does not play a valid social role. The social impact of microfinance is a complex topic, and this chapter thus provides a systemic approach to the different ways of considering the issue of social impact in microfinance from economic, financial, and sociological perspectives.