WACN works to empower women through a Savings and Credit Cooperative model. They assist a group of at least 5 women in one village to form these cooperatives. The women save money with the cooperatives and when there are sufficient funds it is possible for women to take a loan.
To be strong cooperative and ensure women can receive the full benefit of being part of cooperative, the women need to know how to run the cooperatives effectively. WACN organizes practical trainings for group members to learn how to keep accounts and manage loans. Since our last update 22 members of the Shree Kamala Devi Savings and Credit Cooperative from Padampur, Chitwan have participated in their first practical training.
The women were encouraged to voice their expectations and training objectives were consequently structured to address these concerns.
The training session covered:
• The meaning and importance of different cooperative account topics
• The materials needed for proper account keeping such as: day book, invoice, savings register, individual loan disbursement and repayment register, pass book, loan sheet, journal vouchers and assets, liabilities, income and expenditure account books
• How to keep journals vouchers and other accounting methods
• How to calculate interest on savings and loans
• How to make a plan and conduct activities according to that plan
• The role of debit and credit
At the end of training, participants were able to prepare receipts, calculate loan interest, savings and income, fill out a pass-book and expenditure account books.
A 4-day cooperative refresher training has also been accomplished for 10 members of the Makwanpur Cooperatives. Participants were pre-selected for the refresher as they had all previously completed cooperative education training.
• The importance of saving (the types and processes)
• Loans: types, disbursement and repayment
• Importance and principles of cooperatives
• Duties and responsibilities of management, loan and account committees
Each participant was given a different topic and asked to facilitate classes. Now each of the 10 participants is able to confidently facilitate trainings on her own and is now able to share their information with their respective cooperatives.
By donating to WACN you are ensuring more women can benefit from participating in these cooperatives.
Thank you for your support.