Turi Obumu Group
About Turi-Obumu Group
The need for saving culture amongst members started in 2019 when the group of individuals/people realized the purpose of saving and decided to mobilize and sensitize people about the advantages of saving hence the formation of the Turi-Obumu Group
Concerned
By the need to bring ourselves together and achieve a common goal and vision
Motivated
By the example of numerous groups whose unity, need for saving amongst clients and a sense of purpose has enabled them to achieve social-economic gains for their members through unity and togetherness
Hence
Savings are shared back with interest and on 15th December of every year with interest
But those with a long term saving goals can carry the savings to next year and continue with saving
Objectives
• To save money among members as means of enhancing the integral development
• To use ones credit savings score as a key factor as how much facilities unsecured facilities a member can get from Obumwe microfinance limited
• To empower the social economic status of Turi-Obumu group members through working together,coorperating and sharing economic and developmental knowledge as well as saved incomes
• To provide a forum for exchange of professional knowledge,experience,financial literacy and management
• To use ones credit savings score as a key factor as how much facilities unsecured facilities a member can get from Obumwe microfinance limited
• To empower the social economic status of Turi-Obumu group members through working together,coorperating and sharing economic and developmental knowledge as well as saved incomes
• To provide a forum for exchange of professional knowledge,experience,financial literacy and management
Eligibility of Members
• Ugandan by Nationality and Refugees with valid card
• Private Guards/Askaris, Boda-Boda/Motorcycle riders, Market vendors,Refugees and other vulnerable groups.
• Good character and high integrity
• Have paid membership fees of 4000 Uganda shillings
• National Identity Card/LC1 letter/Valid refugee card
• Filled form
• Private Guards/Askaris, Boda-Boda/Motorcycle riders, Market vendors,Refugees and other vulnerable groups.
• Good character and high integrity
• Have paid membership fees of 4000 Uganda shillings
• National Identity Card/LC1 letter/Valid refugee card
• Filled form
Current Status
• Turi-Obumu Group has over 300 active members registered and certified members
Achievements
• The savings have helped parents to pay school fees for over 100 children
• Successfully conducted over 10 continuous trainings on financial literacy
• More than half of members have acquired assets with their savings
• A series of business are smoothly running with savings from Turi-Obumu group and loans from Obumwe Microfinance ltd, where members are allowed to get loans by using their savings as collateral security
• Helped to source over 100 suppliers for market venders and pay them directly for smooth running of our members business
• Successfully conducted over 10 continuous trainings on financial literacy
• More than half of members have acquired assets with their savings
• A series of business are smoothly running with savings from Turi-Obumu group and loans from Obumwe Microfinance ltd, where members are allowed to get loans by using their savings as collateral security
• Helped to source over 100 suppliers for market venders and pay them directly for smooth running of our members business