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| Women in chamas in Mombasa. PHOTO | BANA |
Do you know chamas can be good sources wealthy? Getting to table banking is a better idea. A WhatsApp group in Bungoma was changed to a big Sacco only because of cooperatives and lending banks.
How do you change a Chama to a Sacco?
Coperative bank brings a chama or table banking account that gives out a profit at the end of the year.
Members can access a group loan five times their savings. Mshiriki Current Account is a transactional account for groups and chamas, registered or informal, to support their financial goals safely and securely.
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Features of the account;
- No minimum operating balance
- Access to funds as many times as required
- Cheque withdrawals making reconciliation easier
- No monthly ledger fee
- Free withdrawals
- Free deposits
- Groups can access group loans
The cooperative bank gives out more benefits to a Chama than how table banking could without proper plans.
