By laws GROUP NAME: MAENDELEO MUNICIPALITY WOMEN GROUP LOCALITY: COUNTY :MERU SUB COUNTY : IMENTI NORTH CONSTITUENCY : NORTH IMENTI LOCATION : KAAGA SUB LOCATION : KAAGA MAIN ACTIVITY : TABLE BANKING, TREES PLANTING CORE VALUE OF THE GROUP. THE MEMBERS SHOULD UPHOLD DIGNITY AND EQUALITY VISION This group was formed to empower all members MISSION To add value to active portfolio management To help each member reach their long term financial goals. We achieve this through our investment strategies adhering to our values and principles GOAL To become the best investors in the region OUR VALUES We do the right things, we act with integrity. We think for the long term, we engage in thoughtful decision making and believe that investment excellence should drive our decisions. We work together to achieve common goals: we show respect and humility towards each other, we believe in creating a supportive work environment that fosters team work and effective communication. We strive for excellence, we make the extra effort, practice continuous improvement and stay flexible to adapt to changing circumstances. We are committed to each other, we foster an environment that provides flexibility and opportunity for growth while also requiring accountability. OBJECTIVES 1. CAPITAL GROWTH This will be achieved through table banking which is our current activity 2. INCOME This will be achieved through our long term plan of investing in buying assets that guarantees a steady income supplement. 3. SAFETY. We believe our money will be safe if well invested and well accounted for. REGISTRATION STATUS The group’s minimum membership is 10 and maximum of 25. Currently we are 15, so registration is open for the remaining three members. Each member to register with 1000. MEMBERSHIP All members are above 18 years. Well and highly trained on table banking and investment. They are all educated and doing something to earn a living. All are investment minded. FUNDS All members agreed on 1000 monthly contribution that will support the group table banking. This will be reviewed after six months. UTILIZATION OF FUNDS The monthly contribution will be used for table banking. FINANCIAL MANAGEMENT The chairperson, secretary and treasurer will be the group bank signatories. Monthly financial report to be given by the treasurer during monthly meeting GROUP PROJECT GOVERNANCE The chairperson will be chairing all meetings, the secretary will be taking meetings minutes and the treasurer will be accountable for any financial issues. Secretary will be the auditor. MEETINGS All members agreed to be meeting on every Wednesday at Cooperative building Makutano [MERU] from 2:30pm- 3:30 PM TRUSTEE ESTHER KAIMENYI was voted to be the group trustee. GENERAL RULES AND REGULATIONS 1. Absent without apology will attract a Ksh 500/= fine. 2. Lateness will attract a Ksh 200/= fine. 3. Table banking loan will be given at 10% interest. 4. Discipline is mandatory 5. Loan given must be paid at the agreed time. 6. Welfare which will cater for sickness. ARBITRATION If any member breaks the group’s by-laws the discipline master will deal with them If he/she breaks law the area chief will deal with him / her. AMENDMENT OF THE CONSTITUTION There will be an annual meeting and in this meeting the constitution of the group will be amended if need be. INDEMNITY Members agreed that in case of loses either through fire or accident, the group will help where possible. DISSOLUTION All assets and liabilities to be shared equally.
