Have you joined a savings and loan association?

[Alexandoy]

The savings and loan association is an informal group that members deposit money regularly to their account in the credit club. When a member takes a loan there is an interest of 1.5% in a month but delayed payments has a penalty. On the average the credit club earns about 12% interest on the deposited money of a member which interest is greater than the interest in the bank deposit. I have been a member of a savings and loan association in our office before. It was pretty good so I organized one when I moved to another company. The credit club is beneficial to the members.

 

[Haypril]

Nice question, a question that helps open eyes to opportunities around. Am not in any way discouraging savings but with the little experience I have, I think it is best to invest 85% of your money and save 10% if it in case there's an emergency. In 2018 stroke 2019, I joined a savings community and saves every Sundays of each month. The reason why I back out is because this money was used for businesses but at the end, there won't be interest for the my own money, rather I was asked to pay keeping fee.

 

[Deleted member 27126]

The savings and loan association is an informal group that members deposit money regularly to their account in the credit club. When a member takes a loan there is an interest of 1.5% in a month but delayed payments has a penalty. On the average the credit club earns about 12% interest on the deposited money of a member which interest is greater than the interest in the bank deposit. I have been a member of a savings and loan association in our office before. It was pretty good so I organized one when I moved to another company. The credit club is beneficial to the members.

Very well, I have. As a graduate from the department of Management and Accounting, I understand the impact of savings in a person's life. No matter who you are, you need to cultivate the habit of saving. This will help you to achieve a lot of things at ease and without any glitch. Saving makes you to prepare yourself for a rainy day and to get prepared for when things might look rough and touch. A saver can never go broke. It really pays to save especially for speculative purpose.

 

[Samuel72]

According to my own point of view as well experience business man I will say in the aspect of joining a loan and saving organisation I have never done that before but my friends have joined loan and saving organisation, actually my friends join this organisation because they wanted loan from the organisation at the end of the day they got loan from the organisation but before the loan was being given to them they were ask to save money for some period of time before the loan was issue out to them

 

[Chommyluv]

The savings and loan association is an informal group that members deposit money regularly to their account in the credit club. When a member takes a loan there is an interest of 1.5% in a month but delayed payments has a penalty. On the average the credit club earns about 12% interest on the deposited money of a member which interest is greater than the interest in the bank deposit. I have been a member of a savings and loan association in our office before. It was pretty good so I organized one when I moved to another company. The credit club is beneficial to the members.

Yes oooh, the saving and loan association its a blessing to me am happy that i found them. As a fully registered member am entitled to borrow money from them easily unlike non member, non member must borrow with interest to pay 20% of their borrowed money monthly. Every end of the year, the interest generated from our borrowers will be used to buy foodstuffs like oil, indomie, rice and what have you which we will shared among ourselves.