-
Community Managed Savings and Credit Association (CoMSCA)
A community savings and lending approach that allows self-selected group of 10-25 to save weekly or monthly. All funds are kept in locked box and transactions take place in front of all members. When funds attain sufficient amount, members can borrow. At the end of each cycle (12 months), all the money saved returns to the members including earning from borrowings and starts anew. Groups can create insurance or social funds for the benefit of members and community.
-
Primary and National Cooperative Formation
A duly registered association of persons with a common bond of interest who have voluntarily joined together to achieve a lawful common social or economic end, making equitable contributions to the capital. Individual and groups members pool money, human resources and talent to build capital and work together to produce more goods and raise incomes. Members can mobilize their capital or look for other sources of loans at low interest rates. This will also be a mechanism for marketing of farmers’ and fishers’ produce.
blog comments powered by Disqus
