THE GROUP CONSTITUTION 1. The name of the Group ………………………………………………………………. 2. Every member has to register fully to become a committed group member. Registration fee is non-refundable. The registration varies with the time of registration and revoking fund in the group e.g. the group pioneers, registers with Ksh 120/= 3. GROUP ACTIVITIES i. Building f commercial shares. This is where a member owns an asset e.g. a plot a car, buying shares etc. ii. Social welfare: - This is where members contributes a certain amount to support their member incase of a problem e.g. death. iii. Merry go round: - This is monthly contribution were by cash is kept until end of the year whereby all members share equally. iv. HIV/AIDS awareness: - Group members are educated how to take care of the infected and affected. v. Agricultural activities:- Group members are educated on various farming methods and also supported with farming imputes and farming tools e.g. pangas, jembes, fertilizers etc. vi. Revolving fund:We have three types of fund accounts, namely - Savings and withdrawals: - inorder to be a full member you must contribute a minimum of 200/= shillings per month of which you can withdraw if you wish. - Advance: - a member is given 3 times of the savings of the previous month. - Loans:- a member can get a loan depending with the respective savings with an interest. NB Every member should be able to pay his/her loan within the given period. Paying the agreed amount. 4. The group shall be meeting once a month on a day, date and venue proposed at the last meeting. 5. FINES:- Lateness Ksh 30/= a member and Ksh 100/= an officer - Absenteeism without apology Ksh 50/= - All phones should be switched off while the meeting is in progress, otherwise a fine 100/= - Making noise when meeting in in progress 10/= - Lack of group requirement (s) Ksh 10/= per item - The minimum saving is 200/= per month saving less or falling to save is 50/= NB - A member can be dismissed from the group if he/she discloses the group secrets. - Failure to give either of the above fine a member will be deducted 100/= from the savings 6. Elections will be after every three years and by-election can be held if an official vacates office, resignation or death. Also members can call for by-election if they have doubt with the present official. 7. The signatories of the group include Chairperson, secretary and the treasurer but members can elect other signatories for group security purpose. - Chairlady – controls the group members activities - Secretary – he/she is responsible for every group records - Treasurer – is responsible for the deposit and withdrawals - Liquid banking should be deposited within 48 hours from the meeting days failure to this a fine of 20@ of the amount must be given. - Depositing and withdrawals receipt should be produced during the next meeting date. - Bank statement should be produced three times a year to clarify the bank records to the group members. 8. Every group member has rights and powers to express him/herself and giving opinions in the group. NB – The members do have powers to dismiss a member who fails to abide by the group by-laws Also dismissed members have to pay all the debts to the group and be given back the shares without interest. Incase he/she ceases to pay the group debt guarantor must show us the pledged asset or be deducted from his/her savings or pay cash. 9. The group committee has to hold an annual meeting (AGM) which they discuss and be guided much the leading of their group. 10. The group shall be dividing 40% of their interest according to once share or reduces debt to debt owners. NB:- Bonus will not be given inform of cash to a group with an office debt. 11. Each member must have his/her own records concerning the group, but officials do keep the group records, which every member is free to have a look at. 12. WELAFRE i. A member must contribute a minimum of 100/= whereas an officer on duty twice the amount a member gives towards a death of a group member or his spouse or children who are unmarried. ii. After the death of a member a next of kin shall inherit the entire deceased share. If no next of kin his/her savings must remain in the group. iii. Every member will contributing 400/= per year for social welfare fund (risk fund) which is a non-refundable, there will be a patron to ensure the recording and also an independent account for the same. 13. A member can withdraw from his/her account (share) any amount but must have a minimum balance of Ksh 200/= - A balance of less than 200/= a member ceases to be part of the group. - No withdrawal to cash if you are a guarantor of a loan/advance defaulter. - No withdrawal to cash if you have not paid the agreed loan grace period. 14. Advance shall be given to a member 3 times of the savings of the previous month and pay with an interest of 10% after one month. i. To qualify for an advance a member must have a guarantor to give his/her shares as security ii. If a member is to apply for a loan advance he/she must appear in the group personally for the matter of signing. iii. Advance/loan given can be paid through on the savings only if you have paid your loan for the required months regardless of the share or deducted from once guarantors. iv. If a member ceases to pay her/his loan advance guarantor must be able to locate where defaulter is together with the pledged asset otherwise pay the defaulted amount. v. Advance defaulter shall pay a 20% interest if the defaulted amount after one month grace period and held from taking an advance for a period of 3 months. vi. Guarantors will not be given cash until the defaulter clears the full balance. vii. Loans ranging from 30,000 thousand and above a member can either pay half of the amount given or pay the respective months so as to withdraw or to take an advance. viii. Incase member want to take a loan/advance he/she must produce the original ID and a photocopy of the ID for a loan (to be attached with loan agreement form). ix. Loan form fee is to be paid as per the indicated. 15. There will be projects for the willing groups where members are supposed to contribute towards the proposed. Project There shall be a patron and an independent account for the same fund. NB:- The amount added by the office should be paid within one year - For a group to be empowered by the office they must have contributed atleast 2/3 of the project amount. 16. The time of winding up the group the committee members shall discuss in length an agree with all members about it. Then all group debtors pay back group money. Thereafter a member is given back all his/her shares savings and interest shared according to once savings. Then the group is dissolved. Confirmed and signed by:NAME ID NO SIGNATURE 1. Chairlady …………………. ……………… 2. Secretary …………………. ………………. 3. Treasurer …………………. ………………. 17. Loans are of various categories18. SHARE LOAN REPAYMENT PERIOD ADVANCE MONTHS TOTAL REPAID 1500 1500 – 3000 15months 3 months 610 2000 3000 3000 – 5000 6000 – 7000 15 months 20 months 3 months 4 months 610 850 4000 8000 – 10000 20 months 4 months 850 6000 11000 – 15000 20 months 5 months 1500 8000 15000 – 20000 20 months 5 months 1500 10000 21000 – 25000 17 months 6 months 2500 12000 15000 25001 - 30000 31000 - 40000 17 months 25 months half amount/6months half amount/8months 2500 3000 20000 41000 – 50000 25 months half amount/8months 3000 25000 51000 – 60000 25 months half amount/8months 4000 30000 61000 – 80000 25 months half amount/12months 6000 40000 81000 – 100000 25 months half amount/12months 6000 55000 101000 – 150000 36 months half amount/12months 10000 80000 150000 – 200000 36 months half amount/18months 12000 130000 200000 – 300000 40 months half amount/24months 18000 180000 300000 - 500000 40 months half amount/30months 30000
