Stokvel constitution template: what every stokvel should write down
· myOrganizationApp
A written constitution protects every member, including the treasurer. It turns "I thought we agreed" into "it says here". Use this outline for your own stokvel.
Name and purpose
State the name, the type of stokvel and why you exist, for example "to save money together and share it out in December".
Membership
Who may join, how new members are approved, any joining fee, and how a member leaves or is removed.
Contributions
The monthly amount, the due date and how to pay. Say whether a member may pay late and what happens if they miss several months.
Fines
A fixed fine for late payment and for missing meetings is fair and avoids arguments. Write the exact amounts.
Loans
If members can borrow, state the maximum amount, the interest rate, the repayment period and what happens if a loan is not repaid. A common rule is that unpaid loans are deducted from the member's year-end payout.
Payouts
When the money is shared, how it is calculated (equal split, savings plus interest, or a group purchase) and what happens if a member leaves early.
Death of a member
Decide whether the family receives the member's savings, and whether dependants may take over the membership.
Committee and decisions
Who the officers are, how long they serve, how they are elected and how votes work (for example, majority of members present).
Disputes and changes
How disputes are handled, and what vote is needed to amend the constitution.
When the constitution is ready, upload it to your documents vault so every member can read the current version at any time.