Rules and Regulations:
- The group size shall be between 5 and 30.
- The main association bearing the solidarity group shall have no size limit.
- The group shall have executives elected by the members themselves.
- The group shall have a constitution.
- The field officers shall help the group to prepare their constitution.
- The group shall submit list of their members.
- The list of the individual members/Service providers shall indicate their;
- House Number
- Business activity and location
- Telephone number (if any)
- Proposed credit amount per group member
- National I D/Health Insurance I D
- Clients must be engaged in income generating activities that are legal.
- Must save with the bank for at least 2 months.
- Must undergo pre-credit training in 8 modules for a mandatory period of (6) weeks for the 1st loan cycle and (2) weeks credit orientation for each subsequent loan cycle.
- Must make weekly savings and attend weekly meetings.
- Members shall be jointly and severally liable to the facility they enjoy.
- Solidarity group must be formed from existing association already operating an account with our bank.
- Group members must be in the age bracket of 18 to 60 years
- Group must be located within the bank’s catchment’s area
Non- Eligible Group
- A member in a defaulting group
- Couples and close relations
- Salary workers
- Bank Directors & Staff
- Non Ghanaians
- However, non Ghanaians married to Ghanaians shall be considered