This applies to members within the SACCO who would wish to make joint investments. The following shall apply to this type of loan;

• A third of the group should be WV staff, former staff, spouses, and children and at least one of the members should be part of the executive of the group.
• A group account shall be opened with the SACCO.
• The group should have a minimum of 64 shares in order to access the SACCO product.
• The group should have saved for at least 3 months before accessing a SACCO product.
• The group should have an executive arm having the chairperson, Secretary and Treasurer accompanied by minutes of this resolution from all members.
• The loan shall be applied for by one member (who is part of the executive) of the group BUT guaranteed by all the members in the group.
• The members shall present the minutes and other registration documents that are signed by all members of the group stating the amount the group has decided to borrow and the purpose for the loan.
• Any member with the running loans with the SACCO, the members’ savings at the time of securing a loan shall not be considered in the calculations for the group loan.
• All members shall present signed copies of their valid identification card (National Identify Card or Passport or driving permit).
• The total amount of shares owned by the group shall be at least 20% of the loan amount applied for and 20% of the loan amount should be in the group savings.
• Members of the group will ONLY be eligible for short term loans only not long term loans.
• The loan period should not exceed 24 months.
• The interest rate shall be 16% per annum reducing balance.