Imagine a Woveo Credit Group made up of 12 members.
Each member agrees to contribute $100 every month for 12 months.
Every month, the group collects a total of $1,200 (12 people × $100).
That $1,200 is then given in full to one member each month — following a schedule the group agrees on at the start.
Each member gets their turn exactly once during the 12-month cycle.
Month-by-Month Breakdown
Month | Total Collected | Recipient | Action |
Month 1 | $1,200 | Member A | Member A receives $1,200 |
Month 2 | $1,200 | Member B | Member B receives $1,200 |
Month 3 | $1,200 | Member C | Member C receives $1,200 |
… | … | … | … |
Month 12 | $1,200 | Member L | Member L receives $1,200 |
Example Walkthrough:
In January, Member A receives $1,200 upfront (helpful if they have an urgent need like tuition or car repairs), but continues to contribute $100 each month for the next 11 months.
In February, Member B receives the $1,200, and so on.
By the end of the year, every member has:
Contributed $1,200 total ($100 × 12 months),
Received a lump-sum $1,100 during their assigned month, (plus the ($100) they would have contributed as part of their cycle participation for that round)
Built a strong history of consistent saving and community trust.
Key Points:
There’s no external borrowing — just community pooling and sharing.
You get a larger sum when you need it but still maintain the discipline of monthly contributions.
Trust, reliability, and commitment to the group are critical.
How This Ties into Woveo
At Woveo, we organize and automate this process:
Contributions and payouts are handled securely through your Woveo Wallet.
Group participation is tracked automatically and made available to you at any time for group and community transparency.
Your saving history within the group helps you qualify for extra benefits — like Woveo Cash Advances.
Premium Members enjoy even more flexibility and protection.
Example 1: Sarah’s Story
Sarah joins a Woveo Credit Group where she agrees to save $100/month.
After saving consistently for 4 months, she needs $400 to cover an unexpected car repair.
Because Sarah has built trust and savings history, she’s eligible for a $400 cash advance.
Woveo approves the cash advance within 48 hours.
Sarah continues her monthly savings, with a small repayment added to each contribution (e.g., $110/month for the next few months) until the advance is repaid.
Example 2: Jason’s Story
Jason joins but misses several contributions.
When he applies for a cash advance, Woveo asks him to rebuild his savings consistency first.
His community participation (saving regularly) is the foundation — no participation, no cash advance.