We fight poverty and hunger by increasing household earnings
Special Financial Susu
From 2015 up to present, the SLO continues to run an annual special member’s financial (SUSU) project. The susu which is aimed at fighting hunger and poverty through self-initiative started with eight members. Members meet every Sunday to discuss issues that are of concern to them. At each sitting, each member pays a minimum of $200 Liberian Dollars. This amount is then given out to the members with an agreed interest 7%. Members will continue to pay their dues and monthly contribution up to the end of November of each year. Empowerment funds are repayable within a maximum period of six months. In December every year, each member receives the full amount of his/her monthly contribution and a share of the interest generated during the period. With this initiative, some members have established small businesses. With this ideology, the membership of the group increased in 2016 to one hundred registered members.
The Annual Special Members Financial susu from the time it was established up to present, has impacted its membership in the following ways:
The Annual Special Members Financial susu from the time it was established up to present, has impacted its membership in the following ways:
- It has encouraged compulsory financial savings
- It has strengthened its members financially
- Now, members can provide not only for themselves but also for the family
- Members can obtain a loan easily from the susu club without any difficulty or high interest rate.
