Thank you for your interest in joining Kuwala SACCO. We will take you to the registration form shortly. Please read the following terms and conditions before you proceed:

MONTHLY CONTRIBUTIONS

SAVINGS
A savings account is a demand deposit account that offers free access to money at any particular time without any restrictions.

SHARES
a. NON-REDEEMABLE SHARES
These are permanent savings in the Sacco required by the Reserve Bank law and cannot be redeemed when a member withdraws membership but can be sold to another member. They make a member own Kuwala SACCO and have rights as one of the shareholders.
Every member is required to contribute monthly a minimum of K5,000.00 as non-redeemable shares.

b. REDEEMABLE SHARES
These are ordinary member shares that can be redeemed when a member decides to withdraw from the Sacco. Every member is required to contribute monthly a minimum of K5,000.00 as shares.

NOMINATION

a. Nomination is a service that enables the account holder to name someone to claim the deposit or shares after the member (Account Holder/Applicant) passes away.
b. Every Applicant needs to make a nomination with the form.
c. The account holder can make changes in the nomination by filling out a Customer Details Update form to be given out upon request by the member.

MICRO INSURANCE

This is a micro-insurance offered to members of Kuwala SACCO. If a member dies the member's loan balance is paid by this insurance company. The member's relatives will not be asked to repay the loan for the deceased. However, the above insurance will not apply to members whose death is due to suicide and if the loan was delinquent at the time of death.

MEMBERSHIP WITHDRAWAL

When a member wants to withdraw his/her membership from the SACCO, the following must be noted:
a. A member is supposed to give the SACCO a withdrawal notice of one month.
b. Membership withdrawal fee is K1,000.00. This shall be deducted from his/her shares.
c. Non-redeemable shares shall be sold by the member to an existing member within the SACCO and the withdrawing member shall be the recipient of the funds.

Musanalowe sacco, muyenera kudziwa zokhudza bungweli monga izi:

ZOSONKHA PA MWEZI

MADIPOSITI
Izi ndi ndalama zomwe membala amatha kusunga komanso kutapa ku sacco nthawi ina iliyonse angazifune.

MASHEYA
Mamembala onse amasonkha ndalama za umembala zosachepela K5,000.00 mwezi ndi mwezi. Ndalama yoyambira ndi K5,000.00

KUSANKHA OTENGA NDALAMA

a. Pofuna kulondoloza bwino lomwe kagawidwe ka ndalama za membala akamwalira, membala aliyense akuyenera kutchula munthu kapena anthu angapo oti adzalandire magawo a ndalama zomwe membalayo amasunga ku bungweli.
b. Membala atha kusintha maina a anthu odzalandira ndalamazi nthawi ina iliyonse malinga ndi momwe wafunira iye mwini.

INSHURANSI

Membala akamwalira, abale otsala amapatsidwa masheya onse. Insuransi imabweza ndalama zonse za ngongole ya omwalira ndipo otsala safunsidwanso kubweza ngongolezi. Komabe, inshuransiyi sigwira ntchito kwa mamembala omwe imfa yawo idabwera kamba kodzipha komanso ngati anali ataleka kulipira ngongoleyo pa nthawi ya imfa.

KUTULUKA BUNGWELI

Pamene membala akufuna kutuluka bungweli, ndondomeko izi zidzatsatidwa:
a. Membala adzapereka chidziwitso choti akufuna kutuluka SACCO cha nthawi yosachepera mwezi umodzi.
b. Potuluka bungweli, membala adzapereka chindapusa cha K1,000.00 chomwe chidzachoka ku masheya ake.
c. Masheya osatengedwa ku SACCO (Non Redeemable) adzagulitsidwa kwa membala wina ndipo membala wotulukayo adzalandira ndalamayo.