Empower Your Future Today

Our expansive range of services is meticulously designed to cater to the diverse needs of various demographics, with a particular focus on empowering youth, girls, women, and the vulnerable. These services include:

Our Services

Saving shall be the amount of money deposit in the saving account for along or medium term investment which earns interest on savings at the end of the financial year and serve as the first security to qualify for a loan. There will be no minimum or maximum amount open to save in members account.

  1. Savings withdrawal shall be charged a fee , called withdrawal charges a price list will be will be approved by the BOD each year to confirm or modify the fee to suit the market forces. It will be base according to the amount to withdraw and the duration of time notified before the disbursement date Every member is expected to  save regularly and at least 12 (twelve) times in the course of the year.. The agreed signatories should sign the withdrawal letter or cheque for all group withdrawal except a prior condition put by group on the terms of withdrawals.
  2. Savings shall be considered as the down payment to qualify for a loan above savings.. But a more regular member in saving shall be considered more qualified for a loan than a dormant saver.
  3. A minimum of 1000 FRS will always remain blocked in a members savings account as his or her security fund. In no time will all the money be withdrawn in the members account except at closure of the account.
  4. All saving withdrawal will be checked by the account clerk or accountant or another staff and approved by the manager before withdrawal is affected by the cashier.
  5. Interest on saving will be paid on saving base on the Monthly share calculations, posted at the end of the financial year and declared in the A.G.M of that current year.
  6. The saving of the member can be deducted at any time by the office to meet up with the agreed amount of shares agreed in the A.G.M if the member has not paid up within the agreed date or use to pay part of the loan by management of YUMECCL without prior notification of the members if loan is delinquent.
  7. savings will be deducted at any time by YUMECCL management to pay off delinquency or interest due without prior notice of the member.

This account host money to be withdrawn at short notice. A member may deposit any amount into his/her deposit account depending on the subsequent demand for that money if that it’s for short term demand. Deposits may be withdrawn at any time without notification, if the amount in question is less than 100.000 FRS. Where the amount requested is 100.000 Frs. and above the office should be notified at least a day before the withdrawal. A withdrawal fee will be charged at the time of withdrawal in a range set by the BOD, in the YUMECCL current price list. This rate can be modified by BOD.

  1. Savings withdrawal shall be charged a fee , called withdrawal charges a price list will be will be approved by the BOD each year to confirm or modify the fee to suit the market forces. It will be base according to the amount to withdraw and the duration of time notified before the disbursement date Every member is expected to  save regularly and at least 12 (twelve) times in the course of the year.. The agreed signatories should sign the withdrawal letter or cheque for all group withdrawal except a prior condition put by group on the terms of withdrawals.
  2. Savings shall be considered as the down payment to qualify for a loan above savings.. But a more regular member in saving shall be considered more qualified for a loan than a dormant saver.
  3. A minimum of 1000 FRS will always remain blocked in a members savings account as his or her security fund. In no time will all the money be withdrawn in the members account except at closure of the account.
  4. All saving withdrawal will be checked by the account clerk or accountant or another staff and approved by the manager before withdrawal is affected by the cashier.
  5. Interest on saving will be paid on saving base on the Monthly share calculations, posted at the end of the financial year and declared in the A.G.M of that current year.
  6. The saving of the member can be deducted at any time by the office to meet up with the agreed amount of shares agreed in the A.G.M if the member has not paid up within the agreed date or use to pay part of the loan by management of YUMECCL without prior notification of the members if loan is delinquent.
  7. savings will be deducted at any time by YUMECCL management to pay off delinquency or interest due without prior notice of the member.

This is the amount of money deposited on daily or frequently according to cash flow with an intention to withdraw within a one month period, or as partial contribution to makeup ordinary shares or preference shares. A withdrawal fee is charged only at the time of withdrawal depending on the customer or fixed monthly charge as agreed with the customer at the time of opening the account. Interest is not paid on this amount deposited. The owners of this account are mere users not a member of YUMECCL until his or her share ordinary shares fully paid.

They don’t have any voting rights in YUMECCL and their benefits of other products of YUMECCL very limited. The member’s deposit account is used for daily savings. Its either to build up the share bit by bit or do a regular deposit(daily saving) and withdraw at any time in need. The difference with such daily saving account and deposit or savings, is that there is no shares amount in daily saving account but there is shares for members running the savings or deposit accounts. Withdrawal charge is paid by member at time of withdrawal or agrees a monthly rate. Daily saving users will write letter of authorisation so that a fixed amount is transferred monthly from daily saving account to share account so that them become fully registered members in a few months

  1. Savings withdrawal shall be charged a fee , called withdrawal charges a price list will be will be approved by the BOD each year to confirm or modify the fee to suit the market forces. It will be base according to the amount to withdraw and the duration of time notified before the disbursement date Every member is expected to  save regularly and at least 12 (twelve) times in the course of the year.. The agreed signatories should sign the withdrawal letter or cheque for all group withdrawal except a prior condition put by group on the terms of withdrawals.
  2. Savings shall be considered as the down payment to qualify for a loan above savings.. But a more regular member in saving shall be considered more qualified for a loan than a dormant saver.
  3. A minimum of 1000 FRS will always remain blocked in a members savings account as his or her security fund. In no time will all the money be withdrawn in the members account except at closure of the account.
  4. All saving withdrawal will be checked by the account clerk or accountant or another staff and approved by the manager before withdrawal is affected by the cashier.
  5. Interest on saving will be paid on saving base on the Monthly share calculations, posted at the end of the financial year and declared in the A.G.M of that current year.
  6. The saving of the member can be deducted at any time by the office to meet up with the agreed amount of shares agreed in the A.G.M if the member has not paid up within the agreed date or use to pay part of the loan by management of YUMECCL without prior notification of the members if loan is delinquent.
  7. savings will be deducted at any time by YUMECCL management to pay off delinquency or interest due without prior notice of the member.

We offer authentic bank statements to our members to present for contracts or international body or home organisation where need be to serve the purpose they deserve.

We operative account for under age where the parents or guardian of the bear opens an account in the name of a minor and becomes the signatory of the account  till the child get s to the legal age before he can withdraw money from this account. This account encourages the Guidant of parent start building the future of the child when he or she is till small. The only the approved signatory offered by the Guidant or parent can withdraw from this account after notification. The owners of such accounts are below 21years of age. This account earn dividend too same like the savings account.

They don’t have any voting rights in YUMECCL and their benefits of other products of YUMECCL very limited. The member’s deposit account is used for daily savings. Its either to build up the share bit by bit or do a regular deposit(daily saving) and withdraw at any time in need. The difference with such daily saving account and deposit or savings, is that there is no shares amount in daily saving account but there is shares for members running the savings or deposit accounts. Withdrawal charge is paid by member at time of withdrawal or agrees a monthly rate. Daily saving users will write letter of authorisation so that a fixed amount is transferred monthly from daily saving account to share account so that them become fully registered members in a few months

  1. Savings withdrawal shall be charged a fee , called withdrawal charges a price list will be will be approved by the BOD each year to confirm or modify the fee to suit the market forces. It will be base according to the amount to withdraw and the duration of time notified before the disbursement date Every member is expected to  save regularly and at least 12 (twelve) times in the course of the year.. The agreed signatories should sign the withdrawal letter or cheque for all group withdrawal except a prior condition put by group on the terms of withdrawals.
  2. Savings shall be considered as the down payment to qualify for a loan above savings.. But a more regular member in saving shall be considered more qualified for a loan than a dormant saver.
  3. A minimum of 1000 FRS will always remain blocked in a members savings account as his or her security fund. In no time will all the money be withdrawn in the members account except at closure of the account.
  4. All saving withdrawal will be checked by the account clerk or accountant or another staff and approved by the manager before withdrawal is affected by the cashier.
  5. Interest on saving will be paid on saving base on the Monthly share calculations, posted at the end of the financial year and declared in the A.G.M of that current year.
  6. The saving of the member can be deducted at any time by the office to meet up with the agreed amount of shares agreed in the A.G.M if the member has not paid up within the agreed date or use to pay part of the loan by management of YUMECCL without prior notification of the members if loan is delinquent.
  7. savings will be deducted at any time by YUMECCL management to pay off delinquency or interest due without prior notice of the member.

This is when you deposit money to meet up with a particular project. E.g money to by a plot in years ahead can be gradually deposited in this account till the project commencement period is lauched. This can be the same with a member who intends to build in months or years ahead. This account will help facilitate proper mobilization of fund before the project commencement date. This account will earn interest same like savings account

They don’t have any voting rights in YUMECCL and their benefits of other products of YUMECCL very limited. The member’s deposit account is used for daily savings. Its either to build up the share bit by bit or do a regular deposit(daily saving) and withdraw at any time in need. The difference with such daily saving account and deposit or savings, is that there is no shares amount in daily saving account but there is shares for members running the savings or deposit accounts. Withdrawal charge is paid by member at time of withdrawal or agrees a monthly rate. Daily saving users will write letter of authorisation so that a fixed amount is transferred monthly from daily saving account to share account so that them become fully registered members in a few months

  1. Savings withdrawal shall be charged a fee , called withdrawal charges a price list will be will be approved by the BOD each year to confirm or modify the fee to suit the market forces. It will be base according to the amount to withdraw and the duration of time notified before the disbursement date Every member is expected to  save regularly and at least 12 (twelve) times in the course of the year.. The agreed signatories should sign the withdrawal letter or cheque for all group withdrawal except a prior condition put by group on the terms of withdrawals.
  2. Savings shall be considered as the down payment to qualify for a loan above savings.. But a more regular member in saving shall be considered more qualified for a loan than a dormant saver.
  3. A minimum of 1000 FRS will always remain blocked in a members savings account as his or her security fund. In no time will all the money be withdrawn in the members account except at closure of the account.
  4. All saving withdrawal will be checked by the account clerk or accountant or another staff and approved by the manager before withdrawal is affected by the cashier.
  5. Interest on saving will be paid on saving base on the Monthly share calculations, posted at the end of the financial year and declared in the A.G.M of that current year.
  6. The saving of the member can be deducted at any time by the office to meet up with the agreed amount of shares agreed in the A.G.M if the member has not paid up within the agreed date or use to pay part of the loan by management of YUMECCL without prior notification of the members if loan is delinquent.
  7. savings will be deducted at any time by YUMECCL management to pay off delinquency or interest due without prior notice of the member.

We insure that our members enjoy a good retirement after a good youthful life.  All members whether in the private or public sector carrying out temporal or permanent jobs can committee to deposit money this retirement or pension account as gradual reserve to be withdrawn in the years of retirement. This member at retirement age can take part of this money to run a simple activity that will give them income around the house or withdraw at will to meet up his or her demands during this retirement period. This account earns interest same as a normal saving account.

They don’t have any voting rights in YUMECCL and their benefits of other products of YUMECCL very limited. The member’s deposit account is used for daily savings. Its either to build up the share bit by bit or do a regular deposit(daily saving) and withdraw at any time in need. The difference with such daily saving account and deposit or savings, is that there is no shares amount in daily saving account but there is shares for members running the savings or deposit accounts. Withdrawal charge is paid by member at time of withdrawal or agrees a monthly rate. Daily saving users will write letter of authorisation so that a fixed amount is transferred monthly from daily saving account to share account so that them become fully registered members in a few months

  1. Savings withdrawal shall be charged a fee , called withdrawal charges a price list will be will be approved by the BOD each year to confirm or modify the fee to suit the market forces. It will be base according to the amount to withdraw and the duration of time notified before the disbursement date Every member is expected to  save regularly and at least 12 (twelve) times in the course of the year.. The agreed signatories should sign the withdrawal letter or cheque for all group withdrawal except a prior condition put by group on the terms of withdrawals.
  2. Savings shall be considered as the down payment to qualify for a loan above savings.. But a more regular member in saving shall be considered more qualified for a loan than a dormant saver.
  3. A minimum of 1000 FRS will always remain blocked in a members savings account as his or her security fund. In no time will all the money be withdrawn in the members account except at closure of the account.
  4. All saving withdrawal will be checked by the account clerk or accountant or another staff and approved by the manager before withdrawal is affected by the cashier.
  5. Interest on saving will be paid on saving base on the Monthly share calculations, posted at the end of the financial year and declared in the A.G.M of that current year.
  6. The saving of the member can be deducted at any time by the office to meet up with the agreed amount of shares agreed in the A.G.M if the member has not paid up within the agreed date or use to pay part of the loan by management of YUMECCL without prior notification of the members if loan is delinquent.
  7. savings will be deducted at any time by YUMECCL management to pay off delinquency or interest due without prior notice of the member.

These are additional shares offered to ordinary shareholders to boast the equity of the micro finance institution. The shareholder is an investor in YUMECCL. He /she contribute to the capital structure to help YUMECCL raise it Liquidity needs. One preference share is 500.000 FRS, and can be paid in instalments of 100.000 Frs. within the maximum period of 6 months. A preference share holder is considered only when a full share of 500.000 Frs. has been contributed. An investor can own as many preference shares as he or she can afford. A minimum of 8% is paid annually only on a fully paid up share. It is based on negotiations. The dividend is posted to the preference share holder’s savings account before the 31st of January of the New Year.

The financial year runs from 1stJanuary to 31stDecember of the current Year the payments will be done pro-rata to the number of months due. To withdraw from preference share the shareholder gives 6 months pre notice in writing to the head office of YUMECCL stating the amount and the time of withdrawal. A withdrawal fee of 10% will be charged for a withdrawal not notified in writing within the 6 months specified period. Partly paid preference shares will be considered normal savings. 8% dividend will measure the duration of time the share has been in account within the financial year .e.g., shares paid in September will be 3 months due dividend in December of the current year. The BOD will agree on the amount to be paid as dividend on preference shares at the annual BOD Meeting which is the last BOD meeting to end the year and the last BOD meeting to the A.G.M

A Preference share is considered as down payment when taking a loan. A share certificate can be offered to the investor if share fully paid and on his or her written request. These shares are duly updated in member’s passbook and individual ledger. The Preference Share holder can not over right the ordinary shareholders in decision making. Decision making is by one man one vote.

DIVIDENDS are earned on shares if the financial institution makes a surplus at the end of the financial year and as a decision of the General meeting.

 

Our members home or abroad can save money to their account through our bank accounts with affiliate banks.

This service enable members with mobile money application or use mobile transfer Agents to do saving or deposit into their YUMECCL account or pay loan or open their account no matter their location in the world or time of transaction. That is, day or night, after closing hours, on holidays, Sundays or non-working days. A permanent office number is given to each branch office or promoters Centre. Any member who wants to use the service contacts his or her branch office to get guide and instructions on how to enjoy the service. The member pays the normal MOMO charges by the provider depending on the amount of money in the transaction. You can do a withdrawal to your account or a deposit to your account the service provider office number will be shared to the members of YUMECL E.g. (MTN or Orange). The normal service providers charge for deposit should be added to the saving the member wants to do. E.g. if you intend to deposit, 20.000 FRS in your account and the through MTN Sim. And the withdrawal charges for 20.000 FRS are350 FRS. You are expected to deposit 20.350 FRS in the YUMECCL office Number. You can deposit to open your account or pay your loan. No other service charge is incurred by member. Only the 20.000 FRS will be entered in your account as saving the 350 will be the charges. The members account in the office is updated each time a transaction is done with a backup cash receipt for money paid in and Payment voucher as backup for money sent to member on request where ever members is in need. The member can visit the office at any other time with his or her passbook to update the transaction carried out within the set period and can collect the backing C.R for money paid in and P.V for money received from office.

It meets emergency needs and save time and transport to live business side or home for office or risk of moving with cash.

Take the First Step Today

Whether you need funding, training, or savings solutions, YUMECCL is here for you.