How do members pay their monthly contributions?
1. Stop-order – deduct from payslip for members whose employer has accepted this agreement.
2. Debit order – where the member allows the SACCO to deduct in his or her bank account (this is not applicable to Building Society account Holders).
3. MOBILE MONEY
Savings Products include the following
Savings are divided into two groups; non-withdrawable and withdrawable savings:
Non-withdrawable Savings:
Statutory savings with a minimum contribution of E300.00 per month, non withdrawable.
This is children’s account, minimum contribution of E50.00 per month, withdrawable when the child reaches the age of 18 years.
This is a fixed deposit account, minimum contribution of E100.00 per month, withdrawable after 1 year minimum.
Saving for retirement, monthly contribution of E100.00 withdrawable at the age of 60+ years.
Phemelela Savings with a minimum contribution of E300.00 per month, non withdrawable.
A minimum saving of E100.00, Non-withdrawable.
Withdrawable Savings:
Withdrawable savings with a minimum contribution of E50.00 per month.
Minimum contribution of E100.00 per month, withdrawable when needed.
Minimum contribution of E50.00 per month, withdrawable when needed.
Withdrawals are accepted on December only, minimum saving of E10.00
