SACCO Membership

grameen_cluster_leaders

Grameen SACCO Credit Delivery means taking credit to the very poor in their villages using the essential elements of the Grameen credit delivery system. Grameen Sacco credit delivery system has the following features:

  1. There is an exclusive focus on the poorest of the poor.
  2. Borrowers are organized into small homogeneous groups.
  3. Special loan conditionalities are particularly suitable for the poor.
  4. Simultaneous undertaking of a social development agenda addressing the basic needs of the custom.
  5. Design and development of organization and management systems capable of delivering program resources to targeted clientele.
  6. Expansion of loan portfolio to meet diverse development needs of the poor.
  7. Members to guarantee themselves, two from fellow members and one from the 5 members of the cluster leader’s committee

"By providing comprehensive financial services, empowering the poor to realize their potential and break out of the vicious cycle of poverty."

  • Extend banking facilities to poor men and women;
  • Eliminate the exploitation of the poor by money lenders;
  • Create opportunities for self-employment for the vast multitude of unemployed people
  • Bring the disadvantaged, from the poorest households, within the fold of an organizational format that they can understand and manage by themselves; and
  • Reverse the age-old vicious circle of "low income, low saving & low investment" into a virtuous circle of "low income, injection of credit, investment, more income, more savings, more investment, more income".

Any member to acquire a loan from Grameen must save for 12 weeks and the purpose for this, is to give members a chance to know each other to be able to guarantee each other in the time of acquiring a loan which doesn’t require securities but only 2 guarantors from the fellow members and one member of the cluster leaders committee.

Membership of Grameen Women's SACCO is available for the following categories of people:

  • Single Mothers,
  • Small skill businesswomen,
  • School drop outs,
  • Illiterates,
  • Learnt but lacking professional jobs,
  • Leaders,
  • Students.

How to become a Grameen Member:

  • Buying a share of 22000, and a member can buy 1-10 shares
  • Members join through clusters
  • Member must be a resident of the zone in that specific parish which that particular cluster follows
  • One given a free saving book
  • And must abide to the values of Grameen
  • Starting saving amount is 5000/= per member.