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Deposit-taking SACCO

Live

Savings-led cooperative with share capital, loans multiplied off deposits, dividends and an AGM.

The typical setup for a deposit-taking SACCO: members save and buy shares, borrow a multiple of their deposits against guarantors, and receive dividends and interest on deposits approved at the AGM.

How it works

  1. 1Set up share and savings products
  2. 2Set loan products with a deposit multiplier and guarantors
  3. 3Configure the chart of accounts
  4. 4Turn on SMS and the member app
  5. 5Import members and opening balances
  6. 6Run dividends at year end

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