GROUP RULES

SACCO RULES, RESPONSIBILITIES AND OBLIGATIONS FOR ALL GROUP AND CHURCH MEMBERSHIPS

1. Eligibility for Group, Church and Business Entities

To register as a group, church, or business entity under MCCC SACCO, applicants must meet the following requirements:

A. General Requirement

• Submit a formal written request to the SACCO expressing interest in joining and clearly stating the intended purpose of the funds.
• Provide the names of at least three authorized signatories for the group, church, or business entity.
• Submit detailed information about the group, church, or business entity leaders.
• Promptly notify the SACCO in writing of any changes in leadership or signatories.

B. Documentation Requirements

• Complete a membership application form accurately and in full.
• Submit clear photocopies of National Identification Cards or any other officially recognized identification documents for the authorized signatories.
• Provide recent passport-sized photograph for record-keeping and identification purposes.
• Submit any additional supporting documents as may be required, such as: Certificate of registration for groups, churches, or businesses, Local Council (LC) letter or recommendation letter.

C. Membership Fee

• Pay a non-refundable membership fee of UGX 100,000 upon application approval except where the membership fee is lower for some groups.

D. Share Purchase

• Every group, church or business entity must purchase at least one share valued at UGX 100,000 to secure ownership and eligibility for SACCO benefits.
• Additional shares can be purchased at the groups/ church’s/ business’ discretion to increase investment and dividend earnings.

E. Commitment to Savings

• Groups, churches or business entities must commit to saving at least UGX 100,000 per month, either through direct cash deposits at the office, bank transfers, or mobile money platforms provided by the SACCO.

2. Group, Church and Business Rights

All groups, churches and business entities of the SACCO are entitled to the following rights and privileges:

A. Access to Financial Services

• They can open and operate a savings account with the SACCO.
• They can apply for loans based on their savings and financial history with the SACCO.
• They have access to investment opportunities initiated by the SACCO.

B. Participation in Decision-Making

• Every group, church or business entity has one vote, irrespective of the number of shares owned, ensuring equal participation in SACCO decisions.
• They can propose changes to policies and express opinions on SACCO matters in the annual general meeting.

C. Profit Sharing

• Groups, churches and business entities will receive dividends at the end of each financial year, depending on the number of shares owned and the SACCO’s financial performance.

D. Training and Capacity Building

• Groups, churches and business entities will have access to financial literacy programs to enhance money management skills.
• Business training and entrepreneurship workshops will be available to them to help grow their businesses.

E. Transparency and Accountability

• All groups, churches and business entities will receive annual financial reports detailing the performance and stability of the SACCO.
• They can inspect records, attend financial briefings, and raise concerns regarding SACCO operations.

F. Exiting SACCO

• A group, church or business entity can exit voluntarily by providing one month’s notice after clearing all outstanding loans and obligations.

3. Groups, Churches and Business Obligations and Responsibilities

Every group, church and business entity are expected to fulfill the following responsibilities to maintain active membership:

A. Saving Contributions

• Groups, churches and business entities must maintain an active savings account with a minimum saving of UGX 100,000 per month to ensure financial growth and eligibility for credit facilities.
• Failure to meet the minimum savings requirement may result in limited access to SACCO benefits.

B. Active Participation

• Groups, churches and business entities must have representatives attending the general meeting annually to stay informed about SACCO developments.
• They should actively participate in SACCO programs, workshops, and community outreach projects that promote financial literacy and Christian values.
• They are encouraged to contribute ideas, feedback, and support to enhance the growth of the SACCO.

C. Compliance with SACCO Policies

• Groups, churches and business entities must abide by the SACCO’s constitution, bylaws, and financial policies.
• They should uphold Christian values and ethical financial practices in all their dealings with the SACCO.
• They should respect SACCO officials, staff, and fellow members, fostering unity and cooperation.

D. Loan Repayment and Financial Discipline

• Groups, churches and business entities must repay SACCO loans on time and adhere to the terms of the credit agreement.
• Late repayments or loan defaults may result in penalties, loss of benefits, or legal action as per SACCO policy.
• They are encouraged to seek financial advice and debt management support if facing difficulties in repayment.
• Promote SACCO growth through recruitment and compliance

4. Groups, Churches and Business Beneficiaries

The funds accumulated shall not be considered personal property of any individual member, signatory, leader, or representative. Instead, such funds shall belong collectively to the registered group, church, or business entity and shall be used strictly for its approved objectives, programs, investments, and operational needs in accordance with these rules.

No individual member shall claim personal ownership, entitlement, or withdrawal rights over the saved funds except as expressly provided under the governing policies of the SACCO.

In the event of leadership changes, restructuring, or transition, ownership and control of the funds shall remain with the registered group, church, or business entity.

In the event that the registered group, church, or business entity ceases to exist, is dissolved, becomes inactive, or is legally wound up, the governing authority of the SACCO shall render a formal resolution setting forth the lawful and appropriate course of action.

5. Disciplinary Actions for Non-Compliance

Failure to comply with the SACCO’s rules and obligations may result in:

• Warnings or reminders from SACCO management.
• Suspension of the group, church or business entity benefits such as loan access and voting rights.
• Termination of membership for repeated violations.
• Legal action for financial misconduct, fraud, or breach of contract.