Microfinance 2: How to Elect a Management Committee

Every institution/organization, whether financial, academic and so on, is expected to have a form of leadership. This is called a management committee, and it exists to ensure the orderly and smooth operation of the institution/organization. A savings group is not an exception.

Last week, we talked about how to start a savings group in our microfinance series. Today, we will be looking at how to elect a management committee in your savings group, and I will be sharing an animation from the SAWBO team as always.

Bear in mind that everybody cannot start a savings group, but you can join one. You can also be one of the management committee in any savings group you belong to if you want. So, whether you started the group or you want to be a committee member or you just want to be a floor member, I encourage you to stick around a little longer, because there is a lot to learn today.

What is a Management Committee?

Did someone just ask what a management committee is?

A management committee is a group of people who have been appointed, chosen or elected to ensure the smooth operation of the institution/organization. They take up the responsibility of making decisions in favor of the group and its members.

Functions of the Management Committee in a Savings Group

There are numerous functions and roles performed by committee members, but I will just list a few of them.

• Committee members work together to set directions to guide and direct activities of the group.
• They ensure the effective management of the group and its day-to-day activities.
• They monitor the activities of the group to ensure they are in tune with the founding principle, goals and objectives.
• Depending on the size of the group, they can also formulate and maintain new policies geared towards achieving the goals of the group.
• They work together to ensure commitment and utmost compliance of members.
• Some group committee members work together to ensure financial security of members.

Savings Group Management Committee

The committee members in a small savings group may include:

1. The president: He/she presides over every meeting.
2. Secretary: This person keeps record of all contributions and meetings.
3. The treasurer: This collects, counts and distributes money to the members when necessary.
4. The cash box holder: This person keeps the cash box where the money will be stored.
5. The cash box key holder: This person keeps the key to the cash box in all meetings.

The SAWBO animated video

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This animated video you are about to watch was put together by the renowned team of researchers known as Scientific Animations Without Borders (SAWBO), after thorough research. The video is also available in other language variants, so you can watch in your preferred language for free if you click the “select a language” button.

If you want it translated into your local language, please feel free to contact the SAWBO team via email on contact@sawbo-animations.org.

Importance of this video

One of the significant things about the SAWBO videos is that their illustrations are clear and easy to understand.

This video clearly describes the process of electing a management committee for a savings group.

Click to watch, download or share video in English language below:

Electing a Management Committee

Or click HERE to watch, download or share video in your favorite language:

Please share this animation by sharing the link on WhatsApp, Twitter, Instagram, Facebook, etc.

You can also share by downloading it to your computer, broadcast, Smartphone and cell phone.

As stated earlier, the management committee is elected or chosen to ensure the smooth operations of the group. It is therefore very important that all committee members be elected or chosen collectively by members of the group. It is also important to note that all committee members must be seen and known to be accountable, committed and deserving of the position given.

Remember:

“A manager must first be able to manage himself before managing others” – Uzoma Iyke

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