Chegepreneur

Loans Spoiling Kenyan's Marriages

2010-09-08T10:46:00.000-07:00

According to an article from the Daily Nation, though nowadays its easier for people to access credit facilities from financial institutions as compared to the past, easy access to loans has brought about consequences of marital strife previously unforeseen.

People now are taking up a loans attaching family property as security without informing their spouses. This is creating marriage problems when they become unable to service the loans forcing financial institutions to possess property attached as collateral in order to recover their money.

Some people have also been forging their spouses signatures & using their identification cards naming them as guarantors of loans only for them to be discovered when they are unable to repay the loans.

There has also been instances of married couples taking up joint loans for family projects, where both agree to share the responsibility of repaying the loan only for one of them to redirect the funds towards other selfish interests leaving the other paying for a loan which was not used for its intended purpose creating disagreements.

However, to stem cases of people forging signatures of their spouses naming them as loan guarantors, financial institutions now require both spouses to present themselves in person to sign the loan application forms.

Eco Bank Kenya's Transaction Plus Account For a Sole Proprietorship Business

2010-09-03T11:33:00.000-07:00

As an aspiring entrepreneur, I find registering a company quite a challenge. This is because the process takes long & you have to come up with the memorandum & articles of association.

I understand one has to hire the services of an expert in the legal profession in order to draft the memorandum & articles of association required to register a limited liability company in Kenya.

I prefer starting up my business as a sole proprietorship which is easier to register then transform it to a limited liability company as it grows.

Operating a bank account for your business once it starts is very important. Apart from the safe keeping of the businesses funds, banks will offer financial assistance inform of credit or over draft facilities when the need arises.

I had been wondering whether there were bank accounts suitable for sole proprietorship businesses until I came across Eco Bank Kenya's Transaction plus account. According to a brochure I acquired from Eco Bank, this account is suitable for individuals, non governmental organizations & SOLE PROPRIETORSHIP'S.

Some benefits of the Transaction Plus Account for a sole proprietorship business include:
. Free advisory services
. Access to credit facilities & standing orders
. Cheque books available upon request
. Access to visa debit/credit cards
. Unlimited access to your businesses funds
. Toll free access to Eco bank's customer service contact center
. Free inward electronic funds transfer & real time gross settlement
. Bank statements are given free half yearly but you can make an arrangement with Eco Bank to receive them frequently for bank reconciliation purposes.

For me one of the best features of this account is that deposits earn competitive interest rates.

The Transaction plus account attracts a minimum initial deposit of k.shs 5,000 and a minimum operating balance of the same amount, However I think they should slice both amounts by half. The account does not charge ledger fees but it has a maintainance fee of k.shs 300.

More information on Eco Bank's Transaction Plus Account can be acquired from Eco Bank Kenya branches.

How To Start A Bridal/Wedding Shop In Kenya

2010-08-24T10:16:00.000-07:00

First of all, I believe its important to acquire training & certification. As a certified professional, you will win the confidence of potential clients. Weddings Beautiful East & Central Africa can train you to be a registered bridal consultant.

A bridal shop usually sells bridal wear but you can actually start a shop that provides a one stop shop for all a wedding's needs. This means that clients will get all they need under one roof instead of moving from shop to shop.

Your one stop bridal shop's inventory will include:
1. Wedding gowns for the bride.
2. Dresses for the brides maid.
3. Dresses for the flower girls.
4. Dresses for the mothers of the bride & groom.
5. Wedding dresses for ladies attending a wedding.
6. Tuxedos & suits for the gents who include the groom, best man, men attending weddings.
7. Shoes - bridal shoes, mens shoes.
8. Accessories such as the rings, earrings, necklaces, handbags.
9. Services such as hair dressing, beauty & florist services.

Stock your bridal shop with the latest trends in wedding fashion so its important to familiarize yourself with the happenings of the wedding fashion industry. Your shops wedding wear should also be of good quality & the pricing should be just right.

Choose the best location for your bridal shop. The ideal locations are those with lots of human traffic such as towns & major cities, busy shopping malls, you can liaise with busy supermarkets to rent you space for your bridal shop.

Market your bridal shop in order to raise awareness & attract customers who will in turn translate into sales.

How An Entrepreneur Started A Tooth Pick Manufacturing Business In Kenya

2010-08-22T09:06:00.000-07:00

Each time Mr. Zakayo Maina visited the supermarket to purchase a pack of tooth picks, he was surprised that even the tooth picks were imported from China.

He wondered why tooth picks had to be imported all the way from China benefiting China's economy while Kenya had the capacity to manufacture them locally.

Mr. Zakayo Maina a Nakuru based miller who has been in the timber industry since 1980 took up the initiative to manufacture the tooth picks himself.

He researched on how tooth picks are made, imported a tooth pick making machine & set up his tooth pick making factory in Nakuru's industrial area. His product " Glorious Tooth Picks " have been a success as he supplies supermarkets across the country.

The tooth picks are made from cut-offs of his timber factory which are well treated & sterilized. In just one year of operation, the tooth pick making business made a net profit of kshs 3 million & the business was also worth kshs 12 million.

Mr. Zakayo Maina now plans to expand his tooth pick manufacturing business across Africa.

Courtesy of " The Daily Nation, Thur 5th Aug 2010"

Why Multinational Companies Are Leaving Kenya

2010-08-22T08:44:00.000-07:00

Kenya was once home to well established multinational companies which had created jobs for thousands and grown Kenya's economy tremendously however, due to an unfavorable investment climate coupled with high costs of doing business, things have since changed.

Declining business fortunes due to high costs of doing business has made most multinational companies operating in Kenya to:
1. Shut down their operations in Kenya.
2. Relocate their operations from Kenya to other investment friendly destinations such as South Africa & Egypt.
3. Down size operations e.g from manufacturing entities to small distributing agencies or appointing other agents to distribute their products.

Some of the reasons that have made multinationals to abandon Kenya include:
1. High cost of power e.g electricity.
2. Poor infrastructure e.g a dilapidated road system.
3. Insufficiency at the port of mombasa.
4. Transport & logistical problems.
5. Corruption.
6. Bureaucracy in Government institutions e.g visiting many government offices to obtain a single license, difficulty in obtaining businesses licenses & visas, obtaining too many licenses to start a business & paying for all those licenses.
7. An insufficient court system whereby in case of disputes, commercial courts take ages to conclude cases.

Some of the multinational companies that have been forced to shut down, relocate or downsize as a result include: Colgate Palmolive, Johnson & Johnson, Unilever, Proctor & Gamble, Gillette, Agip, Exxon Mobil, British Petroleum e.t.c

The high cost of electricity especially has made the cost of production to be very high & as a result factory owners close down & relocate.

However this will change as the government sets up mechanisms to make Kenya the ideal investment destination for entrepreneurs locally & globally.

courtesy of - www.financialpost.co.ke

How To Become A YU Cash Mobile Money Transfer Service Agent In Kenya

2010-08-21T03:46:00.000-07:00

YU mobile network provider partnered with Obopay to establish YU Cash a mobile phone money transfer service in Kenya similar to Safaricom’s Mpesa & Zain’s zap.

YU cash is open to all mobile network subscribers which means that even Safaricom & Zain subscribers can transact using YU cash however at higher rates.

Am not aware of all the requirements but, If you would like to become an agent providing YU cash money transfer service, you have to:

1. Apply with Essar Telecom Kenya by filling an agent application form.

2. Once your application is approved, you get into a legal contract with Essar Kenya.

3. You must be having a running business from which to sell the YU cash service.

4. You must be able to raise a specific amount of cash float for the YU cash money transfer service.

Please contact Essar Telecom Kenya offices for more information on all the requirements.

website: - http://www.yu.co.ke/

Jatco Taxis & Tours Ltd

2010-08-14T06:35:00.000-07:00

For those who would like to start a taxi business in Kenya, learn from Jatco taxis

Jatco Taxis and Tours Ltd is a reputable company in Kenya. The company provides taxi and guided tour services to public passengers, corporate clients and tourists.Jatco's fleet of vehicles consists of saloon cars to tour buses.

Their clients include both local & overseas tourists who need taxis and corporate organizations such as Embassies, Hospitality Organizations,Professional firms and bodies, Charitable Organizations, Property Management companies, UN bodies and NGO's .

website - http://www.jatcotaxis.com

Weddings Beautiful East & Central Africa - Kenya

2010-04-14T10:30:00.000-07:00

For those want to venture into the wedding industry, Weddings Beautiful East & Central Africa - Kenya offers study training and professional certification to would be wedding planners, wedding cordinators & bridal consultants.

Planning Weddings is fast becoming a professional service in Kenya as more and more couples decide to wed but do not have time to plan for their wedding.

Take advantage of the growing wedding industry in Kenya as it has great potential. Wedding consultancy is one line of business that has not been fully exploited.

You can train with Weddings Beautiful East & Central Africa Kenya as:
1. A Certified Wedding Specialist
2. A Registered Bridal Consultant
3. An events Planner & Organizer.

After you complete your course, you are awarded a prestigious certificate from Weddings Beautiful (USA) as proof of your qualification then start your wedding planning business.

website - www.weddingsbeautifulafrica.com

Faulu Kenya

2010-04-14T09:51:00.000-07:00

Faulu Kenya is a deposit taking micro finance institution which can offer assistance to would be & existing entrepreneurs via their credit & savings products.

Credit products - if you have just started your business, you can receive funds for capital inform of loans e.g mkopo biashara a loan facility availed to people in business.

Savings products - As a would be entrepreneur, you can save with Faulu Kenya and they will offer you a loan to start your business after saving for a given period of time.

Advantages of Faulu Kenya's credit products include

Grace period on loans.
Easy and fast loan application process.
Interest reduction on subsequent loans for loyal clients with clean credit history.
Training on business improvement for clients.
Multiple loans option to meet ones needs.
Easy and fast loan application process.

Soko Cash - This is Faulu Kenya's product that acts as a quick source of working capital to people in business due to unexpected opportunities that may arise in your business operations e.g Your business might receive a large order unexpectedly & you may lack enough funds to supply it, this is where Soko Cash assists. This product is available to non Faulu Kenya's customers.

website - http://www.faulukenya.com/

How To Start A Car Hire Business In Kenya

2010-02-12T07:24:00.000-08:00

A car rental / car hire agency is a company that rents out automobiles for short periods of time to clients for a fee. Car hire companies can also provide passenger transport service ( Taxi ).

To start such a business, you need a fleet of automobiles such as Saloon cars, 4x4 vehicles, Station Wagons, Vans, Shuttle Buses to hire out to customers. You can acquire vehicles by purchasing them or leasing cars from vehicle owners.

So as to understand services offered by a car hire business, We can learn from Jim Cab Services an established car hire company in Kenya.

JIM CAB SERVICES
Jim Cab Services was established in the year 2000 as a small family business and has grown since to become one of Kenya’s leading company in the car hire business.

Jim Cab Services offers the following services:

1. Cabs & Taxis – Offering transport solutions to passengers.
2. Tours & Safaris – Offering tour solutions to both local and foreign tourists to top tourist destinations in Kenya.
3. Car Hire – Renting out cars to customers.
4. Courier services – Transporting consignments on behalf of customers to the specified locations.

JimCab offers services to variouse companies and organisations staff on official duties and taking them home after working hours & their list of clients includes : Major UN agencies, Embassies / Diplomats, NGOs, The Village Market, Multi national companies, Individuals.

website - www.jimcab.co.ke

The California Gold Rush Of 1849

2009-12-03T07:10:00.000-08:00

This puzzled me...

“ It’s claimed that the people who got rich from the California gold rush of 1849 were the people who sold tools to the miners. Apparently 94% of the gold miners failed to find any gold, approximately 4% of the gold miners found some gold, but barely managed to make a living from it and less than 1% found enough gold to get rich. In contrast many of the non-gold miners, became rich by selling the picks, shovels and tools the gold miners needed in order to prospect for and mine gold. I suspect a fair few made their fortunes selling food and alcohol to the miners too.”

I did some online research concerning this matter & found out via wikipedia that.

“ gold worth billions of today’s dollars was recovered which led to great wealth for a few. However, many returned home with little more than they started with”

I find it strange that of all those people who traveled to California during the gold rush of 1849 only a handful of people striked it rich while the rest became poorer than they were before infact the traders who sold mining tools to the miners became tycoons.

WHEN THE DEAL SEEMS TO GOOD TO BE TRUE INDEED THINK TWICE.

website - Wikipedia

Use Your Job Experience & Training Qualifications To Start A Business

2009-08-27T04:30:00.000-07:00

For many people who wish to start a business, developing a business idea can be a challenge. Unknown to them they could be sitting on very good business ideas. Sometimes we don’t have to search far for viable business ideas because they could be right under our very own noses.

For example If you have been in a career for a period of time enough to give you adequate experience in that field, then your career experience could be your key towards establishing a very successful business venture.

1. You could be a trained & experienced lawyer for a certain law firm. You could put up your own law firm equipped with your practical job experience plus your academic training qualifications.

2. You could be working as a qualified accountant with experience in that field. Use the knowledge you have acquired over the years to put up your own audit firm.

3. You could be working in the matatu industry maybe as a tout or a driver, why should you spend the rest of your life as a miserable tout? Since you know all the pros & cons associated with the matatu business, use the skills acquired over the years to put up a successful organized commuter transport business e.g Citi hoppa, Kenya Bus, Double M e.t.c

In other words, use your job experience & skills acquired over the years in your specific area of specialization & career to start your own business.

Genius Executive Centre

2009-08-12T04:15:00.000-07:00

HELP FOR BUSINESS STARTUPS WHO LACK RESOURCES TO START THEIR BUSINESSES
For people who are getting into business ( startups ), the actual process of starting your new business can turn out to be stressful. This can be mainly because of the resources required to have your business up & running which may include.

1.Office space
2.Furniture
3.Communication equipment e.g Telephones, Internet, Mobile phones
4.Computers & Laptops
5.Staff
6.Motor vehicles e.g Delivery vans

As you can now see the resources required to set up a business can take up a large amount of the Capital you have available.

Here in Kenya, Genius Executive Centre ( GEC ) offers help to stranded entrepreneurs who lack the necessary resources to have their new business up and running. Genius Executive Centre is a Business Process Outsourcing centre that provides different office solutions e.g office space. The centre provides service utility to their clients by provision of office space, internet, services of a receptionist, computers and laptops, mediums of communication such as telephones and mobile phones all at the best rates in town. One also has the option of acquring a fully furnished and partitioned office at a fee of only k.shs 20,000/= per month.

If you are an entrepreneur who is just getting into business below is a price guide of the products they offer which I have extracted from GEC’s website

G.E.C's Products & Prices

SPOT The cheapest office in town. Trade in your cyber café cubicle for a real office with 25 hrs of internet, a receptionist and an exclusive address. 999/- pm

DROP-OFF Use the office for a couple of hours a day and meet clients 3 times a week in a proper board room. Plus 50 hours of internet use and a receptionist. 3,300/- pm

NIGHT Super-fast internet speeds from 7pm to 7am. Whether you r?re in BPO, programming, or just love to work at night, you won?t find a better deal for an office. 4,500/- pm

REGULAR Access your office from 7:00 am to 7:00 pm Monday to Saturday. The original GEC office solution for the entrepreneur who wants full office facilities at the best price in town. 11,000/- pm

HALF-DAY Make efficient use of your office and pay less. Work from 7am to 1pm or 1pm to 7pm. Get all REGULAR facilities except a locker. 6,600/- pm

B.Y.O. Now that you have an office you don?t have to let your PC/laptop go to waste. Bring Your Own PC and get a 30% discount off the Regular solution price. 7,700/- pm

PREMIUM A beautiful fully-partitioned, fully-furnished glass and aluminum office overlooking Nairobi?s central park offering privacy and exclusivity. 20,000/- pm

SILVER A fully partitioned, fully furnished, two-roomed spacious office with an excellent view of Nairobi CBD. Includes all features of Regular membership. 30,000/- pm

Centre fee includes VAT and is prepaid monthly, no deposit required for any of the office solutions.

website - www.geniuscentre.com

How To Register Your Business In Kenya

2009-07-23T07:02:00.000-07:00

If you are thinking of starting a business, the following are procedures for registering your dream business in Kenya.

Procedure 1.
Obtain approval for the company name from the Registrar of Companies
Time to complete: 3 days
Comment: The company name reservation lasts 30 days but can be renewed for a similar period.

Procedure 2
Stamp the memorandum and articles and a statement of the nominal capital
Time to complete: 8 days
Cost to complete: 1% of nominal capital + KES 2,005, stamp duty on Memorandum and Articles of Association
Comment: Effective January 1, 2005, the Kenya Revenue Authority (KRA) took over stamp duty collection from the Ministry of Lands and Housing. As an administrative requirement, the KRA now requires the personal identification numbers (PINs) of all parties on whose behalf duty-stamped documents are submitted. Documents must be first assessed by the Stamp Duty Office before payment can be processed by the KRA-designated banks. The process has lengthened initially to about 2 weeks because the Stamp Duty Office waited to receive confirmation of bank payment after clearance of funds. However, the time has reduced in 2008 as a result of better communication between the Ministry of Lands and housing and Kenya Revenue Authority (KRA) to 5-10 days. Bank handling charges of KES 100 for each transaction are also due.(Kenya Revenue Authority)

Procedure 3
Pay stamp duty at bank
Time to complete: 1 day (included in the previous procedure)
Cost to complete: KES 100 bank commission
Comment:

Procedure 4
Declaration of compliance (Form 208) is signed before a Commissioner of Oaths /notary public
Time to complete: 1 day
Cost to complete: KES 200
Comment: According to the Companies Act (Cap. 486), the promoter incorporating the company must sign Form 208, the declaration of compliance, which accompanies the registration documents to be submitted to the Registrar of Companies

Procedure 5
File deed and details with the Registrar of Companies at the Attorney General's Chambers in Nairobi
Time to complete: 7-14 Days
Cost to complete: see comments
Comment: The founder must file the incorporation deed and the required documents and forms (listed below) with the Registrar of Companies, which has automated this process:
Stamped memorandum and articles of association.
Statement of capital.
Form 201, Particulars of directors and secretary.
Form 203, Notice of proposed registered office.
Form 208, Declaration of compliance and the prescribed registration fees.
Copy of the company name approval Fee schedule for registration:
For the first KES 100,000: KES 2,200.
For every KES 20,000 after the first KES 100,000: KES 120, subject to a maximum of KES 60,000.
Filing fee for three forms: KES 600.

Procedure 6
Register with the Tax Department for a PIN
Time to complete: 1 day
Cost to complete: no charge
Comment: Registration for a personal and a company identification number (PIN) is required to register for the VAT, the local service tax, and the pay-as-you-earn (PAYE) tax. The founder must file the certificate of registration and a copy of the memorandum and articles of association. Kenya Revenue Authority has introduced a portal for online registration of PIN and VAT.

Procedure 7
Register with the VAT office
Time to complete: 1 Day
Cost to complete: No Charge
Comment:
The VAT office is in the Times Tower building. Alternatively, you can visit the Kenya Revenue Authority Online Portal.

Procedure 8
Apply for a business permit
Time to complete: 1 Day
Cost to complete: See Comment
Comment:
The fee to apply for a business permit varies by type of business, number of employees, and size of the company’s premises. The fee is payable to the local authority Licensing Department. The local Authority will issue a business permit.Fee schedule for business permit:
Medium trader, shop, or retail service from 5 to 20 employees and/or premises 50–300 sq. m. (fair location): KES 5,000.
Mid-size business of 50 employees and premises 300 sq. m.: about KES 20,000 to KES 50,000, depending on the nature of the business. The Licensing Laws (Repeals and Amendments) Act , 2006 (enacted in December of 2006 and came into effect on May, first, 2007), amends the Local Government Act (Cap. 265) by reducing the number of business permits required for a distributor of goods or provider of services to carry on its business activities. Applicants having obtained a business permit to operate from one local authority will not be required to obtain another business permit in another local authority. In addition, business permit applicants will have an opportunity to elect whether to apply for a 1- or 2-year permit. The 2006 law also eliminated the requirement to obtain a trading license in addition to the permit.(KRA Online Portal)

Procedure 9
Register with the National Social Security Fund (NSSF)
Time to complete: 1 Day
Cost to complete: No Charge
Comment:
The National Social Security Fund provides the employee with a lump-sum retirement benefit. Historically, the rate of return paid by the state is considerably less than that achieved by private schemes, but participation is mandatory. The employer pays a standard contribution of about 1% of salary, subject to a maximum of KES 400 per month. Half the contribution is deductible from the employee’s salary. The precise amount of the contribution (where less than the maximum) is determined by reference to salary bands.(National Social Security Fund)

Procedure 10
Register with the National Hospital Insurance Fund (NHIF)
Time to complete: 1 Day
Cost to complete: No Charge
comments
The employee contributes a fixed sum to the National Hospital Insurance Fund (NHIF), which must be deducted by the employer from the employees’ salary. The maximum contribution is KES 320 per month. The contributions are used to offset the costs of medical treatment, but they only cover a fraction of actual costs. Hence, most companies provide employees with medical insurance.(National Hospital Insurance Fund)

Procedure 11
Register for PAYE
Time to complete: 1 Day
Cost to complete: No charge
Comment:
PAYE registration administration is handled by the Kenya Revenue Authority.
Procedure 12
Make a company seal after a certificate of incorporation has been issued
Time to complete:
2 Days
Cost to complete:
Between KES 2500 and KES 350
Comment:
You can get good quality company seals from Seal Honey Stationers in Nairobi.

How To Start A Wedding Planner Business In Kenya

2009-07-17T03:44:00.001-07:00

Have you been watching the WEDDING SHOW on Citizen T.V? I have and am quite surprised at how much Kenyans seem to be spending on Weddings. Kenyans are spending huge sums to tie the knot and that this has created an industry which is worth billions of shillings. A lot of money exchanges hands when a wedding is being organized & implemented so this industry can be one of the best businesses to invest in.

If you would like to venture into the wedding planning business in Kenya, it is necessary to acquire the training first so that you may know what such a business is all about.

Samantha’s bridal wedding magazine, east africa 's leading wedding media and sercices company runs a training institution known as THE WEDDING MEMBERS BUSINESS ACADEMY which trains & offers certifications to individuals who want to become wedding consultants. I sent an email to them enquiring about the training and below is their reply.

Dear Chegepreneur,

The WEDDING MBA is a registered training and certification program for Wedding Consultants. Graduate members of the WMBA have the opportunity to achieve Professional status and Certification, and benefit from the continuing education support system offered by our association. Aside from becoming a certified wedding consultant, the Wedding MBA provides a platform for you to network with members of our association, professional members within the wedding industry and an enrollment into a mentorship/internship programme. The Wedding MBA course includes everything a wedding consultant will need to effectively plan a successful business and implement a wedding. Our next classes begin in August 3rd 2009. The first Graduation Ceremony was held in our wedding fair at Sarit Centre,a highly attended event. Whether you are just beginning your career as a Bridal Consultant, or have years of experience in the wedding industry, this program is for you! Register now for any of the upcoming training courses!WMBA is open to individuals, corporates, professionals and just about anyone interested in building a professional career within the wedding consultancy and planning business. The entire course will last three months and the fee is Kshs 65 000. For further inquiries kindly call our offices at: 2729647 or 0722-480068.

With Regards,

Pesa Point Kenya

2009-06-22T03:45:00.000-07:00

Have you ever thought of outsourcing ATM services as a business idea? This concept was implemented in Kenya by PesaPoint Ltd a registered private Company.

Out sourcing is subcontracting a process/service to a 3rd party Company or the transfer of a business function to an external service provider.

Pesa Point is a 3rd party ATM network that offers ATM services through the Company’s ATM’s that are strategically located at key positions in all Kenya’s 8 provinces. Upon the realization that in Kenya , few people had access to their funds via ATM services either because their Banks lacked ATM machines or they were placed is a few locations, Pesa Point came up with the idea of providing ATM’s to Financial institutions and fill that gap between Financial institutions and their customers.

Pesa Point’s aim is to provide all Kenyans with bank accounts easy access to their money anywhere and wherever they need it via their many ATM’s which are present closer to where people are e.g Shopping malls, City streets, Where people work & live e.t.c

Financial institutions outsource ATM machines once they join the Pesa Point network hence.
1. Financial Institutions without ATM’s e.g SACCO’s can provide ATM services to their customers.
2. Financial Institutions with existing ATM networks can provide their customers with the convenience of cash access via Pesa Points numerous ATM’s located everywhere at strategic locations.

The advantage of Financial Institutions joining the Pesa Point network is that it creates economy of scale to the institutions by use of a single infrastructure ( ATM’s ) by multiple financial institution ( Banks, Sacco’s ) to provide ATM services to their customers while they concentrate on their core business operations.

Through Pesa Points business we learn that outsourcing ATM machines is a viable business idea. I believe that there is still room for more players in this industry considering that the Co-operative movement & Micro Finance institutions are growing & such organizations will need to offer ATM services to their members.