Important

 

Announcement!

Please note: This general announcement pertains to unforeseen circumstances affecting individual members of La Tanda. It may not directly apply to you, especially if you have consistently met your contribution commitments to La Tanda.

Unforeseen Circumstances

Period

Jan 20, 2024 to Jan 5, 2025

Members Performance

Due to some members not meeting their commitments to the savings pool program, we have implemented the following measures:

• Missed Payments:

• One or more members miss a few payments, we reach out to them to understand the reason and offer support.

La Tanda's policy for handling overdue payments involves applying fees based on the outstanding amount. If a member fails to respond or responds as unable to cover the due amount, the due amount is turned into a loan to prevent higher interest charges. In such cases, La Tanda charges a 20% interest rate on a monthly basis, rather than daily, to make it easier for the user to manage the cost.

• One or more members continue to miss payments, their batches temporarily suspended until they catch up.

La Tanda takes over the role of covering the user's contribution amount to ensure the continuous flow of funds. This is done while maintaining agreement with the user's motivation to rejoin and complete the ongoing period.

• One or more continued non-payment results in the member accounts being frozen from the saving pool program until the required 3 months period after the end of the program.

To ensure the program's financial stability, La Tanda freezes the contributed amounts for any user who has not met their payment obligations. This freeze remains in place until the first quarter of the following year after the program has concluded.

This specific timeframe has been strategically established to reduce the requirement for La Tanda to compensate for any financial shortcomings. This approach arises from the necessity to deal with the repercussions of not all members meeting their payment commitments. On one hand, there are members who consistently fulfill their obligations and contribute positively to the pool On the other, some members fail to keep up with their payments, leading to a disparity in the system. The intent behind initiating this period is not to penalize those who are contributing effectively but to ensure the stability and continuity of the program by addressing the imbalance created by those who lag behind. As a result, the contributions from members who perform well and adhere to their payment schedules are redirected to cover the gaps left by those who do not This measure is crucial for maintaining the financial health of La Tanda, ensuring that it can sustain its operations and continue providing service to all members involved It is a practical solution aimed at minimizing the impact of missed payments on the collective pool, thereby safeguarding the interests of all participants in the program. This balanced approach ensures that whilst the program can continue to benefit all, the burden of the few not meeting their promises does not unjustly fall on those who do their part.

We sincerely apologize for the delays in payments, especially to those high-performing individuals who have unjustly suffered due to the shortcomings of others. We are committed to doing our utmost to conclude this program in a positive manner, ensuring that everyone receives their payment on time.

If you find yourself facing issues with your performance and need further clarification, please don’t hesitate to reach out.

We encourage you to review La Tanda’s structure and community guidelines for more information.

Or contact us directly at handdraw32@gmail.com