Umoja SACCO · Morogoro, Tanzania
Save together. Borrow fairly.
Umoja is owned by its members. Save a little each month, borrow when you need to, and repay by mobile money — with the full cost of every loan shown before you sign.
Umoja is a fictional co-operative for this demo. Rates, limits and terms are sample content, and no licence or regulator is claimed.
What we promise
Four plain promises.
No small print you cannot read. Every term is explained once, in words you use every day.
Save a little, often
Start small. The sample minimum is 10,000 shillings a month, recorded in your passbook and on your phone.
Borrow at a price we show
Every loan shows its monthly payment, total interest and fee before you apply.
Repay from your phone
M-Pesa, Tigo Pesa, Airtel Money or HaloPesa. You get an SMS receipt every time.
Owned by members
One member, one vote at the annual general meeting. Surplus goes back to members.
Loans
Loans for the way you earn a living.
Business, farm and school fees — each with a clear limit, a clear term and a clear price.
Show amounts in
Converted at indicative rates. Your written loan offer confirms the amount.
For members
Business Loan
Stock, tools, a stall or a shop
- Amount
- TZS 260,000 – TZS 7,800,000
- Time to repay
- 3–24 months
- Interest
- 1.8% a month
- One-off fee
- 1%
You need: 3 months’ membership, savings of 20% of the loan, one guarantor.
For members
Farm Loan
Seed, fertiliser, tools, storage — repaid around harvest
- Amount
- TZS 260,000 – TZS 6,500,000
- Time to repay
- 4–18 months
- Interest
- 1.5% a month
- One-off fee
- 1%
You need: 3 months’ membership, savings of 20% of the loan, one guarantor.
For members
School Fees Loan
Fees, uniforms and books, paid direct to the school
- Amount
- TZS 130,000 – TZS 2,600,000
- Time to repay
- 3–12 months
- Interest
- 1.2% a month
- One-off fee
- 0.5%
You need: 3 months’ membership, the school’s fee statement.
All five loans and the calculator
Sample rates and limits. Interest is per month on the balance you still owe (reducing balance).
Loan calculator
See what it costs before you ask.
Choose a loan, an amount and a time. The calculator shows your monthly payment, the total interest, the fee and your first payments.
- Your monthly payment
- Loan
- Interest over the loan
- One-off fee
- Total you repay
Interest on the balance you still owe costs you less than a flat-rate loan at the same percentage.
| Payment | Interest | Principal | You still owe |
|---|
Joining
Become a member in three steps.
You do not need a bank account. Bring your ID and a passport photo to a branch, or send them on WhatsApp.
1
Bring your ID
A national ID or passport, and one passport photo. Send them on WhatsApp if you cannot visit.
2
Register
Pay the sample registration fee and buy your first share. You get a member number and a passbook.
3
Save, then borrow
Save every month. After three months you can apply for a loan.
Repaying
Pay from your phone. Get a receipt in seconds.
Send your repayment to the SACCO paybill number with your member number as the account. The payment shows in your passbook the same day.
- M-Pesa, Tigo Pesa, Airtel Money and HaloPesa
- An SMS receipt for every payment
- Or pay by bank deposit or at any branch
Pay by mobile money (sample numbers)
SACCO paybill number
000 000
Account number: your member number, for example UM-00482.
- M-Pesa
- Tigo Pesa
- Airtel Money
- HaloPesa
- Bank deposit
Sample numbers — replace them with your own. You receive an SMS receipt for every payment.
Owned by members
Run by members, for members.
Every member has one vote, whatever they have saved. The annual general meeting elects the board, hears the audited accounts and decides what to do with any surplus.
Sample governance description — replace it with your own. Photograph is illustrative: a village meeting, not a Umoja meeting.
Questions
Questions people ask us.
Do I need a bank account?
No. You need an ID, a passport photo and a mobile phone number. You can save and repay by mobile money.
How soon can I borrow?
After three months of regular saving, or one month for an emergency loan. This is the sample rule.
What if I cannot pay on time?
Talk to us before you miss a payment. We can often agree a new schedule. Late payments carry a small sample penalty.
Can I leave and take my savings?
Yes. Your savings are yours, less any loan you still owe. Shares are returned at their value, as the by-laws set out.
Is my money safe?
Sample answer: savings are recorded in your passbook and your statement, and accounts are audited every year. Replace this with your regulator and any deposit protection you really have.
Ready when you are
Join Umoja. Start with what you can.
Registration takes about twenty minutes. A member officer will call to help you choose between saving, a loan or both.