RAINBOW ENTRY CONDITIONS (OPEN TO CATEGORY 1 MFI AND COOPERATIVE CREDIT UNIONS AND THRIFT AND LOAN SOCIETIES)

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

After these are reviewed, AND upon acceptance of the application, the following is expected:

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

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…