On November 2nd and December 4th 2012, the Ujung and Baturiti groups respectively, had their first Profit sharing experience, resulting from their first year of savings and loans.
The Profit gained is the result of the interest rate payed by all the members for taking loans from the groups. The interests from loans are kept in the box during the year, so they become a capital increase for the group, and then after 12 months they are shared among the members according to the number of shares or savings.
Ujung Group shared a total of Rp 1,036,168 (aprox. 1000US$), while Baturiti group shared a total of Rp 664,000, (aprox. 625USD) Members received cash payment based on the number of their shares accumulated for the year. The resulting profit earning was of 9 -14% of the total number of shares for a year, much greater than the interest for savings offered by the banks, which is 4% per year!
The more loans disbursed to members the more benefit the members will get. Likewise, the more shares owned by members more benefit will get. Another advantage for the members is the lack of an administration fee.
Congratulations Women!
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