Mateete Microfinance Cooperative Trust Ltd
Savings Products
We are an independent financial service provider and only rely on member contributions as our main source of funding.
We have different saving plans and encourage our members to make monthly savings based on the saving plans they choose.
Our agenda as a Microfinance is based on helping startup businesses and individual members to save and invest their money on our special investment programs so that they can improve their way of living.
Every member is entitled to annual dividends based on their amount of savings.
Ordinary Savings
The SACCO enables members to make free withdraws without limitation on the number of times in a single day. A minimum savings balance of 100,000/= is required of each member to attract an interest of 4% p.a paid on a quarterly basis. Two passport photos and a small charge are required at opening.
Kamukamu
This is inform of programmed savings. The member signs a contract and states the purpose of the savings e.g buying a solar system. This account attracts an interest of 8% p.a over the entire period. There is a penalty of 5,000/= for premature withdraw of the saved amount and no minimum balance is required.
Fixed Deposit
The SACCO attracts member’s deposits on agreement and awards an interest on a set term basis in ranges of 1month, 3months, 6months, 9months and 12months. The minimum amount for fixing is 200,000/= shs.
Student Savings Club
This is for the youth in Secondary schools and tertiary institutions. The purpose is to instill the savings culture among the youth. The club only pays for membership and acquisition of a passbook to open an account which attracts an interest of 8% p.a. Withdraws are limited to twice a month an no minimum balance is set.
Young Savers
These are loans provided to cover emergency situations such as accidents, hospital bills, court fines, etc.
Members are assured of financial help in the event of unforeseen circumstances.