Kosovo Community SACCO

To be the leading SACCO that empowers its members to become job creators.

To eradicate poverty through developing a saving and investment culture.

Empowering you to grow.

The Kosovo Community Savings and Credit Cooperative Organization (KOSO-SACCO) started its Operation on 1 November 2016 under the Management of the executive committee up to date having Pr Deogratius Mwanje as its chairperson.

The SACCO started with only 17 members who were staffs of Deo Ministries and today in less than 6 months, it has managed to grow up to 200 members. Today the SACCO employs 3 qualified personnel and has managed to extend its services and products in a professional way to all its members. The SACCO currently has its operation premises in Lungujja- Kosovo in Treasured Kids Primary school.

0782 440 717. Working hours 8:00 am to 5:00pm Monday to Friday, Saturday 9:00am to 12:00 noon.

The Kosovo community SACCO pledges to realize the vision and mission by upholding the following core values.

All SACCO members are given equal opportunities to promote themselves through savings and credits.

All stakeholders are advised to observe utmost confidentiality regarding society matters.

The SACCO upholds a high degree of honesty and moral principles in serving its members and other stakeholders.

The SACCO strives to carry out all its dealing in an accountable manner. The SACCO is accountable to its members, the government and other stakeholders.

The SACCO employs team work as its greatest weapon to serve its members and to realize member satisfaction.

All employees of the SACCO take their positions to be a platform to serve others and share the love of Christ.

Under the general principal of financial safety and soundness, the purpose of the Kosovo Community SACCO is basically to improve the its members welfare, by providing them with:

• Savings, deposits, and related financial services earning competitive rates of interest (7% per annum on fixed deposits) and minimizing financial risks on such savings.

• Loan services at cost allowing the society to cover its costs including legal reserves, for loan losses and other required reserves therefore charging an interest of only 5% per month.

• Any other necessary legally authorized and economically feasible financial services demanded by its members.

To fulfill the objectives, the society endeavors to develop, promote and implement the following activities:

• Savings mobilization programs and branding campaigns.

• Credit programs and services based on the borrower’s repayments capacity.

• Individuals as well as joint financial programs and services with other entities with similar objectives.

• Educational programs on savings, loans, investments and other financial services and products, their use and consumption, as well as consumer protection programs regarding financial services and general co-operative issues.

• For the attainment of the above objects the society may do all acts and things that are and the Bylaws.

For one to become a member of the SACCO, one needs to:

• Fill in a membership application form,

• Pay a membership fee of UGX 10,000,

• Raise share capital minimum of UGX 10,000 (1 share)

• Open up an account with the SACCO.

• SACCO Passbook

• Access to all the SACCO’S services.

• Any one who wishes to benefit from the SACCO products.

• It is voluntary so one joins and leaves at his own will.

• Get membership certificate (of 2 ordinary shares).

• Able to save for the future.

• Get credit instantly which is as much as three times your savings.

• Loan interest rate is very low (5% per month)

• And interest is computed on a flat rate.

• Benefits of interest on saving.

• Benefits of dividends on shares.

• If you don’t want to borrow, you can access your savings whenever you want them.

• In case of death your next of kin claims your savings.

i) Any member who has saved with us.

ii) The maximum loan amount you can get is up to “three times” the value of your savings.

iii) Loan money is directly deposited onto your SACCO account.

A member whose share balance falls below the value of the share.

i) A member voluntarily withdraws from the society.

ii) A member dies.

iii) Such a member is dismissed from society.

• Withdrawal, expulsion, or termination of membership will not exonerate a member from any personal or membership liability.

• The Society will re-imbrues the withdrawing Member.

• All the savings made for that period.

• All the share capital value.

• Any outstanding interests and dividends.

• In the case of a member withdrawing voluntarily, such a member shall give a notice of 60 Calendar days within which refund of his/her net balance in his/her favors shall be made.

• When membership is terminated, the society shall recover all balances in its favors from

the said member.