Our Most Popular FAQs
A Co-operative, or co-op, is an organization owned and controlled by the people who use the products or services the business produces. Co-operatives differ from other forms of businesses because they operate more for the benefit of members, rather than to earn profits for investors.
SACCOS stands for Savings and Credit Co-Operative Society. SACCOS
operate according to the co-operative identity, values and principles,
including honesty, openness, social responsibility and caring for others.
- SACCOSs were formed to alleviate poverty by empowering its members with
training in how to utilize limited resources
Shavah SACCO is a savings and credit co-operative that offers affordable financial solutions to its members.
- Shavah Sacco offers affordable, easy and flexible financial solutions to its members.
- Variety of products to suit everyone`s needs
- Shavah as four different membership account to meet members at their different points on need and preference.
- Easy savings platform
1) Shavah provides an easy saving platform for members to save and
secure their money for future investments through its different products.
2) Flexible transaction processes
3) Shavah transacts with its members through its banking platforms such as FNB and ZANACO banks, which have a wider network coverage and easy money collection and deposit options.
A share is a unit measure representing a member`s portion of ownership of the Co-operative. Share are not withdrawable but can be transferred to other SACCO members upon exit of membership.
Shavah SACCO`s purpose is to meet member needs, and members need to
understand that fulfilling that purpose takes capital
- Co-operative businesses require capital, and they generate capital in part through the share investments of member-owners. Debt and earnings are the other primary sources of capital.
- Member shares provide the co-op with an adequate capital base, and they create a sense of ownership.
- Fully completed loan application form
- Outstanding loan by the applicant MUST be cleared before a loan of the same kind is approved.
- A copy of the applicant’s NRC/Valid Passport) MUST be attached to the application
- Must have been an active member for at least six months.
No interest or penalty is charged for clearing a loan earlier than the contracted period.
Looking for a SACCO Society offering flexible and affordable financial services?
We help you see your future differently, discover opportunities you may never have imagined and achieve results that bridge your financial uncertainties.