M C C C S A C C O

Faq’s

Faq’s

Frequently Asked Questions

icon-35
Can't Find What You Need?
Submit Queries
  • 01What is SACCO?

    A SACCO (Savings and Credit Cooperative Organization) is a member-owned financial cooperative that provides savings, credit, and investment opportunities to its members.

  • 02What is MCCC SACCO in full?

    Miracle Centre Churches Community Savings and Credit Cooperative Organization.

  • 03Is MCCC SACCO registered?

    Yes, MCCC SACCO is fully registered with the government of Uganda, adhering to all legal and regulatory requirements.

  • 04Who can join MCCC SACCO?

    MCCC SACCO is open to anyone above the age of 14 years and is a member to one of the Miracle Centre Churches or has a recommendation letter from their pastor.

  • 05How do I become a member?

    To become a member, complete our membership application form, provide the required documents that include a passport photo and national ID, passport, or driver's license, and pay the membership fee of UGX 50,000.

  • 06What are the benefits of being an MCCC SACCO member?

    As a member, you gain access to:
    1. Savings accounts with competitive interest rates.
    3. Affordable loan options.
    2. Opportunities to purchase shares and earn dividends.
    4. Financial education and advisory services.

  • 07Can I withdraw my membership?

    Yes, you can withdraw your membership by providing a written notice. However, all obligations such as loans or other dues must be settled first.

  • 08What types of savings accounts do you offer?

    We offer various savings products, including:
    Regular savings accounts.
    Special savings accounts for goals like education, weddings, or emergencies.

  • 09Do savings earn interest?

    Yes, your savings earn competitive interest rates, credited to your account periodically.

  • 10What types of loans are available?

    We offer a variety of loans, including:
    1. Personal loans.
    2. Business loans.
    3. Emergency loans.
    4. Asset financing loans.
    5. Construction loan.

  • 11How do I qualify for a loan?

    To qualify for a loan, you must be an active member, have sufficient savings as security, and meet the specific loan requirements, like being fully verified MCCC SACCO member.

  • 12What is the loan repayment period?

    Loan repayment periods vary depending on the loan type and amount. Typically, repayment terms range from 6 months to 5 years.

  • 13What are SACCO shares?

    SACCO shares represent your ownership in the SACCO. Members purchase shares to become co-owners and participate in decision-making.

  • 14How do I buy shares?

    You can purchase shares by depositing funds directly into the MCCC SACCO bank account or through the official mobile money lines.

  • 15Do shares earn dividends?

    Yes, shares earn dividends based on the SACCO’s annual performance.

  • 16Is my money safe in MCCC SACCO?

    Yes, your money is safe. Our MCCC SACCO is governed by strict regulations and audited regularly to ensure transparency and security.

  • 17How can I access my account?

    You can access your account through our mobile application, or you can visit our offices and get information about your account.

  • 18What happens if I cannot repay my loan on time?

    If you face difficulties repaying your loan, please contact us immediately. We can explore restructuring options to help you manage your repayment.

  • 19How do I contact the SACCO?

    You can contact us via:
    1. Phone: +256 769 676126
    2. Email: [email protected]
    3. Physical address: Plot 713, Off Nabunya Rd, Rubaga, Kampala, Uganda.