Lephola Savings and Credit started as an informal women’s credit and grocery scheme where
members subscribed money at the beginning of every year. Members would then lend these
subscriptions amongst each other at the monthly interest rate of 30%. With the initial subscriptions
and the interest earned during the year, members would use all the funds for the year on grocery for
Christmas and start the whole process again the following year. This practice continued for a while
until some of our members, suggested to scheme members to use their money for something bigger
than consumption. It was from this Idea that Lephola was born.
Unfortunately, Lephola could not be recognized as a cooperative since then, the thirty members of
Lephola could not meet the capital requirement of the cooperative society act. Members sat down
and a decision was reached of bringing forth additional 20 members into the cooperative. These
members were selected on merit with the view of accepting members from diverse professional and
business backgrounds thus moving beyond just raising capital towards strengthening the cooperative
corporate governance.
Following membership increment, members attended cooperatives training, the cooperative
constitution was drafted, business location secured, proper banking system was purchased,
operational staff positions were advertised and filled and operations started on 14th July 2014. Due to
various challenges that arose during the registration process, the aforementioned operations start
date was behind the envisioned start date of November 2013.

VISION

Through commitment to providing an unequaled customer service that exceeds their expectations while maximizing member’s holding value, Lephola Saving and Credit shall stay committed to cooperatives principles and be the leading cooperative bank operating in all the districts of Lesotho.

MISSION STATEMENT

To continuously improve our service levels through continuous staff competence enhancement training, product improvement, new products development, operation of customer feedback systems and pricing strategies that makes our services affordable to our target market.

VALUES

In addition to values and principles underpinning the operations of all cooperatives which are;

  • Voluntary and open membership
  • Democratic control
  • Member economic control
  • Autonomy and Independence
  • Employees and Customers Education, training and information
  • Cooperation with other cooperatives
  • Concern for community

We shall also deliver our service based on the following additional values;

  • Professional Courtesy
  • Confidentiality and due care
  • Excellence
  • Innovation
  • Corporate Image