Microfinance has been programs that avails the financial services consisting mainly of savings, credit, insurance etc. for the poor who don have access to other financial institutions. As a client owned financial institution UMM has realized that and also tries to provide these services to its members in a simple and affordable manner. Over the years it has built good rapport and created enough confidence among the clients though its service delivery mechanism.
Presently UMM offers savings, credit and insurance services for the members. As per the current practice, it encourages members for regular savings at the group level and utilizes the amount for internal lending among them. At present UMM does not accept savings from the SHGs/Members however, plan to collect savings of the clients once the management systems are built and stabilized for this.
Credit: A loan product is featured by a set of conditions like limit of loan amount purpose, interest rate, loan processing fees, duration etc. UMM have two loan products as on date. Currently UMM is offering Short-term an medium term loans its clients through SHGs
