Plain-language guides for SACCO members: selling and buying shares, joining and leaving, loans and guarantors.
SACCO share capital is not refunded when you leave, so the usual way to get your money back is to transfer the shares to another member. This guide walks throu…
Buying share capital from an exiting member can be a cheaper way to meet a SACCO's share requirement, but only the SACCO can confirm the seller owns those shar…
There is no official market price for SACCO shares; new shares are issued at par, so a seller usually has to offer a discount. This guide shows how to think ab…
Most SACCO share scams rely on getting you to pay before the SACCO has confirmed anything. Knowing the common tricks, and checking licences on SASRA's list, pr…
Your SACCO statement holds two very different kinds of money. Deposits are refunded when you leave and earn interest; share capital is never refunded, can only…
To leave a SACCO you give written notice, clear your loans and any guarantees, and wait for your deposits to be refunded. Your share capital is not refunded; y…
The right SACCO is one you qualify for, that SASRA regulates, and whose rules on share capital, loans and exits suit you. This checklist covers what to compare…
When you guarantee a SACCO loan, your own deposits stand behind it. If the borrower stops paying, the SACCO can recover from you, and you cannot leave the SACC…
Most SACCO loans need guarantors who are members of the same SACCO. If your usual circle cannot help, you can widen the search, reduce the amount you need guar…
SASRA licenses deposit-taking SACCOs, which can run FOSA accounts, and authorises non-deposit-taking SACCOs, which hold only non-withdrawable savings. Here is …
SACCOs, money market funds and Treasury bills all pay you for saving, but they differ on how quickly you can get your money, what you can borrow, and who stand…
Every year SACCOs announce a dividend rate on shares and an interest rate on deposits. Knowing what each number means, and what sits behind it, helps you compa…
A SACCO, which stands for Savings and Credit Cooperative Organization, is a member-based financial institution where people pool their savings and use them to …
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