Objectives

The United we stand saving group’s main purpose shall be to save money from the member contribution monthly for community upgrading in order to increase the standards of living and livelihood of the members within the langrug community.

The united we stand saving group’s secondary goals include; expanding membership, gaining as much community involvement from members as possible, investing and being involved with the projects that benefits the community’s most vital needs and pressing issues.

To be one of the independent provider of financial services to its member in the city.

Income and Property?

The organization will keep detailed ledgers of the money collected from the members as well as any other money gained from any other revenue streams. This process will be handled by the treasurer and the collector and will be more clearly indicated /outlined on the Group App for all Members to view since there shall be transparency within the group.

The group shall have a group android application which will be installed onto the member’s Smart Phone so that each member is able to access financial saving statements and other detailed reports.

A member may only get a refund from united we stand savings group if said member has spent some of their own money on items necessary to the group and after being authorized.

The members of the group who are elected to hold office bearing or otherwise positions will not receive benefits such as property or additional money as benefits for having these positions within the group.

Membership and Meetings?

In order for one to become a member of UWSSG he/she must pay a fee 20.000shs nonrefundable. New member fee has to be paid to the savings group bank account/our online android App. This fee must be paid in full before membership is awarded and this fee is not up to negotiation unless circumstances provided to the entire group suffices for additional discussion.

This membership fee will go to the savings group bank account directly meaning that no individual member will benefit from this fee.

There shall exit another method in which to save with the group and that is online saving on our group Android App and monitored on the same App by all the registered members

When a member wishes to withdraw the money they have individually saved they must request showing this during the monthly meeting and get approval from all signatories as well as members by showing them the savings books as proof that their accounts hold enough money for this transaction and that they are in good standings with the group savings account.

To be considered as an active member of United we stand saving group, each member must pay an annual subscription fees of 10,000shs (Ten thousand Ugandan shillings) per year

Management

The United we stand we stand saving group’s management structure will be made up of five office bearing positions including chairpersons, Coordinator, Secretary and the treasurer/collector. For each positions, nominations will be held.it is possible for a member to either be nominated by another member or themselves if they so choose.

Vision Statement.

To be one of the leading financial saving scheme in the city

Declaration 

The meaning of the aims and objectives of the saving group shall be regarded as independent objects and in the event of any ambiguity this clause shall be constructed in such way as to widen and not restrict the powers of the group.

Savings 

Members shall be saving a minimum amount of 50,000 per months and savings will change depending on the situation.

Lending/Loans to Members 

The maximum amount that anyone can borrow is two times the value of their savings with interest that will be agreed upon. To qualify for a loan A member must have saved with the Group not less than 3 Month. First Loan application will not exceed his Savings since the Savings Act as Security.

A member must repay before he/ she can apply for another Loan.