We are a financial institution that was started by listeners of the "Akeezimbira" Radio programme that airs on Prime Radio in Kampala every Sunday morning from 7am - 9am. the word SACCO means a Savings and Credit Cooperative. Akeezimbira SACCO is fully recognized by laws of Uganda and has a license "NO:10339/RCS" to mobilize and keep member savings that willingly join and choose to use services of
the SACCO in a fight against poverty. Mobilized credit and savings are used to offer credit services to eligible members. HOW DO I BECOME A MEMBER? Any one that wishes to become a member should fill a membership form available at study centre’s for self development, our offices in Kireka - Kampala (Uganda), or any individual granted authority to register members on behalf of the SACCO. You will be required to make a membership fee of 20,000/= UGX once at the time of registration. With this membership fee, one is entitled to have a SACCO Identification card, savings account and share certificate. It is advisable to buy at least 5 shares @20,000/= per share in cash at the day of registration and required to pay up the balance of all shares applied for in two months after the registration date. 5 shares are the minimum and you can buy more than 5 shares. This is a joint effort and every member is required to buy at least 5 shares or more. The beauty in buying shares is that one earns dividends at the end of every financial year. These dividends are generated as a result of the SACCO making investments in different profitable projects as recommended by its members. The dividends depend on the year’s financial performance. The more shares one has/buys, the more the dividends one gets. At the end of every financial year, we have an Annual General Meeting “AGM” for all members to evaluate the year’s performance and plan for the up-coming financial year. Currently, the SACCO has 4763 members with its head office at Kireka Wakiso district and 1 branch at Semuto-Nakaseke district. we also have 20 agencies country wide that we hope to develop into service branches. Responsibilities of SACCO Members
*Applying/ seeking to get literature and reports regarding performance of the SACCO at any given time of operation.
*Participating in the general meetings where members get updates about the performance of the SACCO, Voting for leadership committees and different ways through which the organization should carry on.
*Informing others and encouraging them to join Akeezimbira SACCO putting in consideration the different guidelines that have to be followed pertaining one's being a member of the SACCO.
*Making full payments of one's shares applied for in a period not exceeding 2 months from the day of registration and accepting leadership responsibilities when one has been appointed a leader. Rights of a fully registered member:
Every fully registered member is entitled to applying for a loan facility though its not a must for the SACCO to extend this loan; extending a loan facility depends on guidelines that were set by the board members. Every member seeking to acquire a loan, should fill the loan application form availed at our offices in Kireka; indicating the loan amount needed, the loan purpose and collateral security provided for the loan, and the loan payment time planned. Every loan applicant is required to pay 10,000 UGX as the loan application fee. Loans pay an interest at a rate decided upon by members under guidance of the board i.e the loan interests help the SACCO run day to day operations, pay dividends and serve any other financial need that the SACCO may meet along. Advantages of a SACCO over other financial institutions
A SACCO does not manipulate its members' savings for profit but rather invests their finances to create a surplus i.e. a SACCO multiplies your finances compared to what was initially invested. A member within a SACCO has a say to decide how the organization should be operated and can influence decisions on policies pertaining savings and borrowing within the SACCO. ADVANTAGES OF A SACCO OVER OTHER FINANCIAL INSTITUTIONS
A SACCO does not manipulate its members' savings for profit but rather invests their finances to create a surplus i.e. SERVICES OFFERED
*loans
*Fixed Deposits
*Savings
SAVINGS
members can save any given amount on their accounts by physically depositing funds on their accounts or use of mobile money platform. savings also attract a 1% interest every after 3 month of no withdraws. you save for free and also deposit for free over the counter. one can access their savings at any time. FIXED DEPOSITS
we have up to 13% interest on fixed deposits per annum. i.e 12 month. LOANS
we have attractive loan packages with attractive monthly interest rates of
2.5% per month "for asset acquisitions loans,development loans and agricultural loans"
3% per month "for working capital loans,salary loans and school fees loans"
5% per month "for emergency loans"
repayment periods stretch from 3 month, 6 month, 12 month and more
OUR CONTACTS
AKEEZIMBIRA SACCO LTD
P.O BOX 4242 KAMPALA UGANDA
TEL: 0414 692454, 0752 426109, 0783 911859
web; www.akeezimbirasacco.org
email: [email protected]
[email protected]
ISABELLA PLAZA
2nd floor room 41, 42
opposite Shell-Kireka
