VICOBA & Groups
Group loans, VICOBA/VSLA savings cycles, meetings, shares, and share-outs.
How to start a new VICOBA cycle
Set the cycle length, contribution amount, and initialize the group's fund ledger. Every VICOBA cycle in Ustawi is a discrete, closable period — nothing carries over silently between cycles.
Recording a meeting's shares, social fund, and fines
Each meeting is logged as a single register entry capturing shares purchased, social fund contributions, and any fines — the same entry point every group officer uses week to week.
How share-outs are calculated at cycle end
The payout formula is based on each member's shares purchased across the cycle, weighted by the fund's actual interest and fine income — not a flat split.
Adding and removing group members mid-cycle
Eligibility rules govern who can join after a cycle starts, and the system pro-rates shares already purchased so a mid-cycle join or exit is never a manual reconciliation.
Originating a joint-liability group loan
Group members share responsibility for a single loan — distinct from VICOBA internal lending, this is institution-to-group lending with joint liability recorded on every member.
Understanding the VICOBA fund ledger
Contributions, loans out to members, interest, and fines all flow through one ledger per group, so a group's financial position is always a single source of truth.
Handling a missed contribution or late fine
A missed contribution is logged at the next meeting entry and can trigger a configured fine — nothing is silently waived.
Closing out a VICOBA cycle
The end-to-end close sequence — final meeting, share-out calculation, fund reconciliation — before the next cycle can be opened.
Related categories
Loan applications, the approval ladder, disbursement, repayment, restructuring, and write-offs.
Lead pipeline, agent management, referrals, and commissions.
Login, worklist, offline cash collection, receipts, EOD reconciliation, and device trust.
Frequently asked questions
What is VICOBA?
Village Community Bank — a member-owned savings-and-loan circle ("kikundi cha kuweka na kukopa"); Ustawi digitizes its cycle, fund ledger, and meetings.
How is a share-out calculated?
Based on each member's total shares purchased across the cycle plus their proportional share of interest and fines collected.
Can members join a VICOBA group after the cycle has started?
Depends on group rules; Ustawi supports mid-cycle membership changes with pro-rated shares.
Is a VICOBA loan the same as a group loan?
Related but distinct — VICOBA is a savings circle with internal lending; a group loan is joint-liability lending from the institution to a formed group.
What happens if a member misses a contribution?
It's logged at the next meeting entry and can trigger a configured fine.