Who can join KPAS SACCO?
Membership is open to staff of Kyankwanzi District Local Government, staff of allied institutions, and other persons approved by the General Assembly who subscribe to the SACCO's objectives.
How much does it cost to join?
A one-time, non-refundable membership fee of UGX 50,000, plus a minimum share capital purchase of UGX 50,000 (at least one share). An annual subscription of UGX 30,000 is also required.
How much must I save every month?
A minimum of UGX 100,000 per month, contributed through approved payment channels. This minimum may be revised by the General Assembly from time to time.
Can I withdraw my savings at any time?
Savings withdrawals follow the SACCO's standard policies and are processed after any outstanding liabilities on your account are settled.
What types of loans does KPAS SACCO offer?
Development Loans (for income-generating activity like agriculture, business, and investment) and Emergency Loans (for urgent needs like medical expenses and bereavement). Fixed Deposits and Investment Plans are also offered for members building long-term wealth.
What interest rate applies to loans?
Development Loans carry a draft rate of 3% per month on a reducing balance. Emergency Loans carry a draft rate of 3% per month, flat. Both rates are subject to final Board approval.
How long do I have to repay a loan?
Development Loans can be repaid over up to 4 months. Emergency Loans can be repaid over up to 2 months.
Do I need guarantors to get a loan?
Yes. You need two guarantors who are active SACCO members with a good savings record and the capacity to cover the amount they're guaranteeing.
How much can I borrow?
Typically up to three times your savings, subject to credit assessment by the Loan Committee.
How do I apply for a loan?
Submit a completed application with your guarantor forms and proof of repayment ability. The SACCO carries out a credit appraisal, the Loan Committee approves qualifying applications, and funds are disbursed once the loan agreement is signed.