CFU - SACCO - Limited

Shares or Equity Capital

Presently the price of one share is 20,000/=. Shares shall not be refundable or assignable as collateral for a loan, but a member may transfer his shares to other members on leaving membership of the Society. Shares may earn dividends paid from net surplus after required transfers to reserves at the end of a financial year in accordance with the dividend policy of the Society. Shares also act as security for the Loan. Each member is allowed up to 30% of total paid up shares.

Saving Schemes

Deposit for both short- and long-term goals and money can be withdrawn any time, and can generate an interest of 4% per annum if savings exceed a monthly balance of UGX 300,000/=.

Withdrawals on this account are only made for members whose balance is in excess of 50,000/=. However withdrawals on the ordinary saving account are restricted to one per three months. A charge of 5,000/= is levied on each extra withdrawal within the same three months.

This account has a monthly compulsory deposit of 5,000/=, failure to save means that the member forfeits the interest that they would have earned in that month.

The School Fees Scheme guarantees that you or your children’s present and future dreams can come true. This scheme is for members who would like to put aside some of their savings regularly specifically for educational purposes for themselves, children and/or dependents.
The account holder is saved the hustle of queuing up in the banks as the office makes the payments for school fees on behalf of the members, as long as the bank slips are handed in at least two weeks before beginning of term, and if there is sufficient funds on the members account to meet the school fees obligation.
School fees or tuition deposits can be made any time, and can generate an interest of 4% per annum if savings exceed a monthly balance of UGX 300,000/=.

This scheme benefits you and your loved ones to enhance the culture of saving ahead of any sickness or disease. You and your loved ones will receive both preventive and curative medical services at Child and Family Medical Center and its partner health facilities
SACCO Members receive 3% discount on all medical bills at Child and Family Medical Center.
Saving for health deposits can be made any time, and can generate an interest of 4% per annum if savings exceed a monthly balance of UGX 300,000/=.

To help members put aside money for a specific period to save towards achieving a certain target, for example a telephone, household chairs, plot of land, marriage etc. Saving for asset acquisition deposits can be made any time, and can generate an interest of 4% per annum if savings exceed a monthly balance of UGX 300,000/=.

The Fixed deposit account is a withdrawable deposit account where depositors can place short term deposits for specified periods of time usually between one to twelve months.
The account targets members with substantial sums of money that they have put aside for investment and they are fairly certain of the period that they can commit the funds.

Loans Schemes

Ordinary loans a charged at an interest rate of 2.5% per month, calculated as a flat rate. To obtain this loan, the CFU SACCO member is required to have saved 25% in ordinary savings of the requested loan amount before disbursement.

The compulsory saving requirement is to cover any default risk. The maximum amount disbursed is 500,000/=, which should be available within two weeks and payable within a maximum period of one year.

The aim of this loan is to assist members who would like to clear school fees for their children. The loan is granted based on the amount of school fees required by the academic institution.

To obtain this loan, the member is required to have saved 25% in ordinary or school fees savings of the requested loan amount before disbursement. It is charged at a rate of 3% per month as a flat rate. The maximum amount disbursed is 1,000,000/=, which should be available within two weeks and payable within a maximum period of six months.

The aim of this loan is to assist members who are in urgent need of health services which can be accessed in CFU health unit, or any other health units. To obtain this loan, the member is required to have saved 25% in ordinary savings or health financing scheme of the requested loan amount before disbursement.

It is charged at a rate of 10% per month as a flat rate. The maximum amount disbursed is 300,000/=, which should be available within twenty four hours and payable within a maximum period of one month.

This aims at providing financial assistance to various community groups. It is meant to boost group projects and individual needs. This is obtained at 2% flat and the maximum amount to borrow is UGX. 3,000,000=. The group should have at least 15% saving and 10% shares of the loan required.

The signatories are supposed to monitor their group members’ saving culture and present minutes agreeing to take a loan from the SACCO. Loan repayment is normally collected by the group representatives/signatories and brought to the SACCO immediately after collection.

The aim of this loan is to assist members in their business development projects. Business loans are charged at an interest rate of 3.0% per month, calculated as a flat rate.

To obtain this loan, the CFU SACCO member is required to have saved 25% in ordinary savings of the requested loan amount before disbursement. The maximum amount disbursed is 2,000,000/=, which should be available within one week and payable within a maximum period of six months.

The aim of the loan is to assist members facing an unexpected personal problem or solving emergency business transactions that need immediate cash. This loan is granted to members based on the type of business emergency or social need. The CFU SACCO member is required to have saved 25% in ordinary savings of the requested loan amount before disbursement.

The loan size range from UGX 100,000 to 500,000/= and is charged a 3% interest rate per month as a flat rate. The loan repayment is per month and the period to complete the loan should not more than two months. The loan should be available within 2 days.

The aim of the loan is to assist members facing an unexpected personal problem that requires instantaneous cash. Instant loans are charged at an interest of 10% per month, calculated as a flat rate.

To obtain this loan, the CFU SACCO member is required to have saved 25% in ordinary savings of the requested loan amount before disbursement. The maximum amount disbursed is 300,000/=, which should be available within twenty four hours and payable within a maximum period of one month.

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CFU SACCO LIMITED

Shares or Equity Capital

10

CFU Foundation SACCO Limited

5

+

100

+

1000

+

CFU SACCO and Livelihood Programs

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CFU Uganda SACCO and Livelihood Programs

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Shares or Equity Capital

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Note: Membership fee for Individual registration is UGX 10,000 and that of Community institutions or groups is UGX 20,000.

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