A pool of funds for SACCOS for liquidity management, Investment and Inter-lending to member SACCOS
- Build & Maintain liquidity stability in SACCOS.
- Centralizing Financial Power among SACCOS for Investment.
PRODUCTS IN CENTRAL FINANCING PROGRAMME (CFP)
1. ORDINARY SAVINGS | WITHDRAWABLE | ANYTIME
- SACCOS may withdraw its savings at anytime
- Competitive interest paid on the balance at the end of the month.
- Minimum monthly savings
2. COMPULSORY SAVINGS | ACCUMULATED | WITHDRAWABLE
- A Member SACCOS is encouraged to maintain 5% of its total assets with the CFP as liquidity reserves.
- Earns high interest rate.
- High priority for qualification for loan.
3. FIXED DEPOSIT |BASED ON TERM AND RANGE
- Fixed for agreed period.
- Attractive interest rates.
- Certificate of deposit issues.
- Can be used as security for the loan
4. LIQUIDITY LOANS | SHORT TERM | PAYABLE IN 6 MONTHS
- Finance liquidity constraints affecting member SACCOS.
- Maximum loan is 3 times its savings with the CFP.
- Negotiable interest rate.
- Loan approval in 24 hours.
. 5. DEVELOPMENT LOANS | LONG TERM | 24 MONTHS
- Finance assets acquisition or refurbishment of office.
- Maximum loan: 3 times its savings with CFP.
REQUIREMENTS FOR CFP
- A SACCOS must fill and submit CFP EXPRESSION OF INTEREST FORM.
- A SACCOS must be a fully paid up member of SCCULT (1992) LTD.
- A SACCOS must be in good standing with SCCULT (1992) LTD. i.e Paid annual contribution and other required contributions.
- Monthly savings for not less than 6 months.
- A SACCOS must fill and submit CFP LOAN APPLICATION FORM.
- Resolution from Annual General Meeting (AGM), checked and passed by Co-operative officer to borrow from SCCULT and maximum liability.
SCCULT (1992) LTD produces and prints branded and customised stationery for sale to SACCOS and therefore generates income in this activity. The form of stationery is used for accounting purposes in form of books of accounts and other financial records storing books.
1. Ledger books and sheets.
2. Pass Books.
3. Receipt Books.
4. Payment Voucher Books.
5. Membership Application Forms. etc
Our Capacity Building and Training Programmes enables people, communities and Co-operative organizations to strengthen their capabilities to develop, implement and maintain effective provision of good services. These programmes also provide guidance and support on growth, changes and adoptability in fast changing scientifically and technological world that draws and increase competition in financial sector.
Training and Capacity building Department develops, implements and evaluates training materials and courses to help SACCOS grasp the needed taste and quality training.
This important process aims to ensure SACCOS individuals and organization obtain, improve, and retain the skills, knowledge, tools, equipment and other resources needed to sustain and push further the SACCOS.