Case Study

Real Success Stories: Transforming Financial Futures

Amina's Journey to Homeownership

Background: Amina, a Kenyan immigrant in Canada, struggled to secure a mortgage due to her limited credit history.

Solution: Amina joined a Coterie rotating group savings room dedicated to homeownership. This group, consisting of 10 members, committed to contributing $500 each month. Every month, one member would receive the total pool of $5,000, ensuring everyone received a substantial lump sum by the end of the cycle.

Steps Taken:

  1. Commitment: Amina committed to the monthly savings plan and set up automatic transfers to ensure consistency.
  2. Credit Reporting: Coterie reported her consistent savings to credit bureaus, improving her credit score.
  3. Lump Sum Payment: In the 8th month, Amina received her lump sum, which she used as a down payment.

Outcome: Amina successfully purchased her first home, having built a strong credit profile and accumulated the necessary funds through her community’s support.

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Coterie Finance Technology Limited, Canada, incorporated BN 733232417RC0001 and Corporation Number 1528505.

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