PAMOJA SACCO

Our growth, our prosperity

The FOWODE PAMOJA SACCO was birthed by the Board Of Directors of FOWODE in 2018 with an initial aim of keeping her members connected, engaged and vibrant while providing an enabling environment for economic empowerment. The SACCO is open to all members.

VISION

Economic sustainability among members

MISSION

Promoting economic empowerment among members through

OBJECTIVES

  • To promote a savings culture.
  • To economically empower members.
  • To enhance member knowledge through regular trainings and meetings

How to join the SACCO

  • Buy a compulsory share worth Shs 50,000.
  • Pay membership fees of Shs 10,000.
  • Purchase a SACCO book worth Shs 3,000.
  • Save a minimum of Shs 50,000 monthly.
  • 2 passport size photos and National ID.

Member Benefits

  • Access loans at low interest rate
  • Acquire business skills through training
  • Share dividends at end of financial year.
  • Earn interest on fixed savings.
  • Enhance your networks by connecting with others.

  • Ordinary savings: minimum of 2 shares and minimum balance of 50,000.
  • Regular savings: monthly contribution of 50,000 and minimum balance of 600,000 per annum
  • Group savings: initial deposit of 500,000 and minimum monthly contribution of 100,000 (interest of 10% per annum).
  • Special purpose: opening balance of 100,000
  • Fixed term: minimum deposit is 1,000,000 (3 months with 5% per annum, 6 months 10% per annum, 2 months 15% per annum)
  • Children’s account: education loan of up to 200% of credit balance and 10% interest.
  • Development loan: 200% of savings and shares paid in 48 months at 1% interest processed in 48 days.
  • Top Up loan: Maximum of 25 million processed in 15 days with 30 months repayment time at 1.5% interest rate.
  • Education loan: Maximum of 5 million paid in 18 months at 1.5% interest processed in 2 weeks.
  • Fixed Asset loan: Maximum of 100 million payable in 48 months processed within 15 – 30 days at 2% interest.
  • Instant / Quick Cash: Maximum of 2 million payable in 4 months processed within 12 – 24 hours at 10% interest.
  • Emergency loan: Maximum of 4 million payable in 12 months processed within 3 – 7 hours at 3% interest.
  • Weekend loan: Maximum of 500,000 payable in 7 days processed within 2 hours at 5% interest.
  • Salary loan (FOWODE Staff only): Maximum of 50 million payable in 18 months processed within 3 – 7 days at 1.2% interest.
  • Holiday loan: Maximum of 4 million payable in 12 months processed within 2 days at 3% interest.
  • Tupakase loan: Maximum of 4 million payable in 6 months processed within 2 days at 5% interest.