Contribution schedules can vary depending on the group’s agreement. Typically, members contribute weekly, bi-weekly, or monthly. The specific frequency and amount are decided collectively by the group to ensure it meets everyone’s financial capabilities and goals.

Joining a savings club offers numerous benefits, including: Access to emergency funds and loans at low or no interest. Encouragement and support in achieving personal financial goals. Building a sense of community and mutual trust among members. Opportunities for collective investments and financial growth.

Decisions within the savings club are usually made democratically. Members discuss and vote on important matters such as contribution amounts, loan approvals, and fund usage. This ensures that all members have a voice and that decisions reflect the collective interests of the group.