Community Credit Fund in Kadraguma village
Ten households formed a group in this village. Each one of them contributed an amount of Rs 200 and borrowed Rs 4000/- from their village fund. Thus they had Rs 6,000/- Six members of this group had 19 of their matured jackfruit and 12 mango trees mortgaged for three years, since 2008. They needed Rs 20,000/- to reclaim these trees.
However, they decided to use their Rs 6,000 /- and reclaimed 5 mango trees and 3 jackfruit trees. This made the total number of mango trees of the group to be 35 .
On an average they got 320kgs of mangoes from one tree. So, from 35 trees they got 11, 200 kilograms of mangoes. Mangoes were sold at the rate of Rs 6/- per kg and thus they got Rs 67,200/-. The amount was equally divided amongst the group members. Each of them received an amount of Rs 6720/-. From this profit they contributed Rs 400 each in order to return the Rs 4000/- to the village fund.
Having paid back to the village fund the group decided to reclaim two of their pineapple fields of 1.5 acre having 2720 pineapples .The pineapple plots were also mortgaged for three years since 2008. They needed Rs 6,0000/- for this purpose. This amount was generated out of individual contribution of the group members.
The pineapples were sold at a rate of Rs 18/-each in the market .Few of them had to be sold at a cheaper price .The group earned Rs 48,500/ out of this trade .They had to spend Rs 1150/- towards transportation cost. So, the group now has Rs 47,350/- with them.
As per their set norm they decided to extend a support to one of their fellow villagers who has not yet become a member of the group. He was about to pledge 0.5 acre of his pineapple plot to a money lender for Rs 3000/- for three years. He was provided with a interest free loan of Rs 3000/- with a precondition that the pineapples will be sold to this group only.
Two other villages Gartoli & Huteshi also have similar experiences. Based on this experience the group in this village is planning to buy brooms for trading. One of the challenges is to gradually utilize this experience of working as a collective into other social dimensions of their village life.
