PRESENTATION / DOCUMENTATION PHASE

The conditions of becoming an Affiliate of Rainbow Cam are open to all category 1 MFI and Cooperative Credit Unions and Thrift and Loan Societies. These conditions include:

1. 1. Write a letter addressed to the BOD PRESIDENT OF RAINBOWCAM requesting to join the network. The letter should be signed by the BOD president of your institution.
   2. Attach the following:
      • COPIES OF ALL AVAILABLE REGISTRATION DOCUMENTS
      • COPY OF BOD MINUTES SHOWING THE DECISION TO JOIN RAINBOW CAM
      • COPY OF THE MOST RECENT FINANCIAL STATEMENTS
      • COPY OF THE MOST RECENT EXTERNAL/ INTERNAL AUDIT REPORT IF AVAILABLE
      • COPY OF THE BUSINESS PLAN

FULFILMENT PHASE

1. Registration fees,
2. For institutions out of Bamenda, there will be an inspection fee,
3. A membership agreement will be signed between the institutions,
4. Yearly membership dues,
5. Shares in RAINBOWCAM equaling 20% of your share capital,
6. You will be expected to do savings and deposits at the network office

BENEFITS TO AFFILIATES

After a proper review of all corresponding documents, and upon acceptance of the application, the following  fulfilments are expected to be met up with:

1. 1. To vote and be voted into the elective organs of RAINBOW after fulfilling eligibility conditions.
   2. Education and training of staff and management of all affiliates.
   3. Attending RAINBOWCAM General Meetings and participating in decision-making at such meetings.
   4. To vote and be voted into the elective organs of RAINBOW after fulfilling eligibility conditions.
   5. Technical Assistance from RAINBOWCAM in the process of registration/ accreditation of affiliates.
   6. Regular internal control of affiliates, and recommendations from RAINBOWCAM
   7. Provision for a statutory auditor, for annual external audits.
   8. Benefitting from loans after fulfilling eligibility conditions.

And many more benefits…