It is a savings scheme instituted by the Bank with the help of PLAN GHANA to help specifically women in the deprived communities of the Bank’s catchment area to access credit to start or expand their businesses to improve quality of Life.
Attached to the programme is Health Education, aimed at helping the women to live healthy in order to pursue their commercial activities vigorously and profitably.
- Women who are interested in the programme are made to form Solidarity Groups.
- 3 to 6 of these groups are assisted to come together to form the Credit and Savings Association.
- The newly formed groups are taken through once a week for 5 weeks training
- Savings are made during these meetings
- They elect their leaders and also assess and approve their individual loan request
- The group then presents their loan request to the Bank
- The Bank studies their requests, approves and disburses the loan to the group
- The leaders receive the loan on behalf of the group, sign all the necessary documents and disburse the loan to the members.
- A cycle of 16 weeks begins, targets are set, and association financial statements are read and savings also made by members.
- A weekly meeting of all the members of the association is compulsory.
- The weekly meetings are the heart of this programme for all the services offered by the programme and delivered during the disbursement, repayment, savings and facilitation of educational sessions.
- When all borrowers finish paying their loan they go through the process of assessing their income generating activities, present their loan request to the Bank, the Bank receives the request, approves and disburses the loan to the group.
- Again, the leaders receive the loan on behalf of the group members and a new cycle begins.