Saving and Credit
Bench Maji Forest Coffee Producer Union Saving and Credit Service Department was established in 2012 E.C with initial capital of 100,000 shares. All the 85 cooperatives’ member farmers and workers are member of the department. So far 630 shares have been sold with 315,500 birr. Currently it has around 12,000 customers and over 100 million transaction.
Before the establishment of the service , the union used to provide its services for member farmers manually which was time consuming. With the high increase of the service from farmers, the union has installed a digital banking system at a cost of 20 million birr.
General Objective: To encourage the saving culture of member farmers and improve their livelihood income.
Specific Objectives:
- To tackle cash shortage in the institution
- To enhance saving culture of workers in the institution
- To reduce the loan interest of member farmers
- To avoid illegal loan providers with high interest rate
