Transcript
Joy: Welcome back to the Wakandi Academy. I'm Joy, James is with me, and today it's a small setting with big consequences: who may guarantee a loan. James, where does this setting live?
James: On the loan product itself. Every loan product in CAMS has a Guarantors setting, and it decides who stands behind loans from that product. Set to Self, borrowers back the loan with their own savings. Set to Self and Member, other members can stand behind it too.
Joy: And today we're closing that door — moving a product from Self and Member to Self only. Why would a SACCO do that?
James: A few honest reasons. Maybe guarantors have been signing for friends without understanding the risk. Maybe recoveries have turned neighbour against neighbour. Some boards decide: on this product, your own savings are your security, full stop.
Joy: So talk me through the change.
James: It's quick. In CAMS, open Settings in the left menu, then Products. You land on the Loan Product list. Search for your product, open it, and click Edit. Scroll to the section called Guarantors and Collateral, change Guarantors from Self, Member to Self, and save.
Joy: That's it?
James: The click is it. The thinking comes first. This is a credit-policy change, so agree it with your credit committee before you touch the screen.
Joy: Here's the question everyone will ask: what happens to the loans that already have member guarantors on them?
James: Nothing. That's the important part. A running loan keeps the guarantors recorded on it — their commitment stands until the loan closes. The new setting only shapes loans created after you save.
Joy: So no member wakes up released from a guarantee.
James: Exactly. And no borrower on an old loan needs to do anything. It's forward-looking only.
Joy: One trap to watch?
James: If you open the product and there's no Edit button, your role is view-only. That's not a bug — ask your administrator for product rights.
Joy: Small setting, clear policy. Thanks, James.
James: Pleasure, Joy.