20/05/2014
This page is meant to encourage pool savings among members. People hardly have access to loans these days and especially for a start up capital. In the rare cases where loan is granted, the process and time taken makes it almost impossible.So I've decided to start this group for all those who see the need to save but find it difficult to do it alone. There is power in number. The more we are, the stronger your resolve will be and the less excuses you will have for not being able to save. In a nut shell, this is the plan...
I suggest we should have a common purse; a bank account...in which we all send the savings and withdrawal can only be done at a specified time...maybe 3 months at the first instance and later on 6 months IF the the first 3 months was a success.
We can register a name and open a bank account with it. We will have an arrangement with the bank not to allow any individual make withdrawal, we could ask a renown lawyer like Barr Femi Falana, the bank management to be trustees so that they wil act like an 'escrow' between the account and the contributors. At the end of the specified period, contributors can ask for withdrawal by tendering their deposit tellers or online transfer evidence.
Further suggestion/correction/amendments are welcome.
If anyone has a better idea, kindly table it here so that we can all consider it.
