Frequently Asked Questions

M50 is for normal registration and it is meant to assist with office work. M100 buys you shares in the cooperative.

You have to make a minimum of M65 deposit a month. This is a compulsory saving. M50 is your deposit, M15 is bank charges. For now, any extra deposit is considered to be ordinary savings and it can be withdrawn any time you want. E.g. some members are already depositing upto M1015 which is broken up as M50—compulsory saving, M950—ordinary saving and M15 bank charges. The M1015 figure can go up or down but it can never go below M65 for now.

When you register, you also give us a permission to withdraw monthly savings directly from your bank account.

The policy (which is under development) will show what happens to a member who fails to make a monthly contribution for a given time. The most likely scenario is that he loses membership and his total contribution and deposits are given back to him.

You should pay M150 to the Standard Lesotho-Bank-approved account of Roma Savings and Credit Cooperative.
The Standard-Lesotho Bank Account Number is 9080006897440 (Please note: The account says Roma Savings and Credit cooperative. Its is a temporary name).

  • M50 is a non-refundable registration fee.
  • M100 is your share-capital.
Reference should be your name, written in full. e.g. Tebello William Tjapela.

The cooperative will at some point, start lending to members with some interest at repayment. However, do not start requesting loans until further notice.

Yes, we try by all means to be digital in all our activities? Whether you make deposits, we lend you money or you return the money you borrowed, everything is done through a bank.

When you apply, you will need to have
  1. A photo of your National Identity Document (ID) [just take a picture with your cell-phone]
  2. A soft-copy of your proof of M150 bank deposits [just take a picture with your cell-phone]
  3. Active bank account details from which you authorise us to withdraw your monthly deposits.

Do you have more questions?

+266 5632 2869
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