Log inBook a demoSign up
Use cases

Use case

Savings and loan groups

Members’ savings, susu and loans, kept straight, with the board in charge.

For example: Village savings and loan groups, Market women’s groups, Artisan and trade cooperatives.

See also: susu and savings groups

The problem today

  • Susu cards, savings books and loan records don’t agree with each other.
  • Members can’t check their balance without calling the treasurer.
  • When a loan goes bad, nobody is sure what can fairly be taken from the borrower’s savings.

How it might run on Kwessa

Here’s how a market women’s savings group of about 40 members might run on Kwessa. The money is the members’ own savings, never deposits from the public.

  1. 1

    Personal susu toward a goal

    Each member opens a personal susu account: a set amount on a set schedule toward a goal, such as restocking before Christmas. When the cycle ends, the money waits to be paid out, less the collector’s commission if the group charges one.

  2. 2

    Everyday savings

    Alongside susu, each member has a regular savings account they can pay into and withdraw from. Interest, if the group pays it, is worked out daily.

  3. 3

    Fixed deposits for the patient

    A member can lock savings away for a term. At the end it rolls over, moves into savings or is paid out, as the member chose. Ending early is possible, on the group’s terms.

  4. 4

    Loans against savings

    Members borrow under loan products the group sets up, with their savings pledged behind the loan. As it is repaid, the pledge shrinks to what still stands behind the loan.

  5. 5

    When a loan goes bad

    The board can decide to recover a bad loan from the borrower’s savings. Kwessa records it as a repayment from her savings account, with a receipt, and takes nothing that is held back for anything else.

  6. 6

    Balances on WhatsApp

    Members ask the group’s WhatsApp number for their savings, susu and loan balances, any time, without calling the treasurer.

What it uses

  • Members
  • Contributions & collections
  • Accounting & reports
  • Payment vouchers
  • Member loans
  • WhatsApp assistant
  • Member savings
  • Fixed deposits
  • Personal susu

Questions

Keep each member’s savings, susu and loans in one place so they always agree, and let members check their own balances. Kwessa does this, with the board approving loans and recoveries.

Yes. Each member saves a set amount on a set schedule toward a goal. When the cycle ends the money waits to be paid out, less the collector’s commission if the group charges one.

Yes. Under loan products the group sets up, a member’s savings are pledged behind the loan, and the pledge shrinks as it is repaid.

The board can recover it from the borrower’s savings. Kwessa records it as a repayment from the borrower’s savings account, with a receipt, and takes nothing held back for anything else.

The plan for it

Premium

GHS 900 a month · any number of members

Premium has everything above.

Start with Premium Book a demoCompare plans

Give your treasurer their evenings back.

Start your free trial Book a demo