Since 2013
Common Wealth Credit Cooperative works to bring essential and responsive financial service offerings closer to our members, particularly those who may otherwise not have such access through the traditional financial channels.
It aims to encourage members to save periodically in the amount of their own choosing and realize higher interest earnings than regular bank products.
It serves to bridge the income gaps that individual members may face, by offering them various loan products at competitive rates vis-à -vis informal lenders and conventional financial institutions. Further, it provides financing to member-nominated livelihood projects operating near our institutional partners’ markets and selected targets.
The business also generates additional income for members. Yearly surplus is shared via reduction of loan interest to member-borrowers, and as additional interest on savings placed by member-contributors.
