Save a little each month and it grows in three ways: interest on your savings, a share in the SACCO, and access to fair loans.
Savings
Regular savings
Every month, from the sample minimum of 10,000 shillings. You can withdraw with a few days’ notice.
- Minimum
- 10,000 shillings a month
- Interest
- 3% a year (sample)
- Withdraw
- 3 working days’ notice
Savings
Shares
Your ownership of the SACCO. Buy at least one share to join. A dividend may be paid, voted at the annual general meeting — never promised.
- One share
- 50,000 shillings
- Dividend
- Voted each year, not guaranteed
- Vote
- One member, one vote
Savings
Goal savings
Lock money away for six to twelve months for school fees, a farm season or a shop. Earns more, because you leave it alone.
- Minimum
- 20,000 shillings a month
- Interest
- 5% a year (sample)
- Lock
- 6 to 12 months
Sample terms — replace them with your own.
Questions about savings
Is the dividend guaranteed?
No. The members vote on the dividend at the annual general meeting, after the accounts are audited. It depends on the year’s surplus.
Can I withdraw my savings any time?
Regular savings, with a few days’ notice. Goal savings are locked until the date you chose. Shares are returned when you leave.
Does saving help me borrow?
Yes. Regular saving for three months opens the door to loans, and your savings count towards the amount you can borrow.