Investment Clubs – An Overview
History
Investment clubs are a group of individuals who pool their money together to make investments. However, the idea in itself isn’t new; since the 1800s, people have found investment clubs to be an ideal way to spread their risks. One of the major reasons why people should join investment clubs is to learn how to save for investment purposes.
Today
In Uganda today, there is a general growth trend in the desire to investment both for short term and long term. Investment Clubs are acting as a channel to enable members pool their money together to increase their buying power, share their collective knowledge, and network. Some investments that members engage in include: – purchase of land with intention to sell at a profit, shares, rental property, businesses etc.
Advantages of Investment Clubs:
- They are the easy and economical entities to form, operate and maintain
- The club’s income and losses are passed through to its members
- Investment clubs are also a terrific way to learn, make valuable contacts, and meet people with similar interests.
- Some clubs have made fortunes for their members.
DFCU should keep informing all information to their clients. If one client has his/her income of 600,000 USHS. He/she is not depositing or drawer from his/her account for six months. DFCU will freeze his/her account. AND re-activation they put him/her 20,000 ushs.
DFCU BANK should need to know that from salary of 600k, after sending to parents, if he / she is going to remain with hardly 50 or 100k. It will not make any sense if he/she is carrying 20k savings from a month to the bank to deposit.
Because if he/she will not deposit or draw (operating) DFCU will freeze account. IF dfcu is providing this information to clients the time they open account.
i WILL not preffered or recommened to any person to open account in DFCU ugnada ltd.
The bank which is still negotiating from 2008 with Visa and up to now DFCu is still negotiating with VISA company.