Find answers to common questions about UNIQUES SACCO
How do I become a member of UNIQUES SACCO?
To become a member, you need to complete a membership application form, provide a valid ID, and make an initial share capital contribution. Visit any of our branches or download the membership form from our Downloads page. Our staff will guide you through the registration process.
What documents do I need to join?
You'll need a valid National ID or passport, proof of residence, and two passport-sized photos. For employed members, a letter from your employer may be required. All documents should be original or certified copies.
Is there a membership fee?
Yes, there is a one-time registration fee and a minimum share capital requirement. These amounts are used to build the cooperative's capital base and ensure sustainability. Contact us for current fee structures.
What types of loans do you offer?
We offer various loan products including Normal Loans, School Fees Loans (Tilipo), and Development Loans. Each product is designed to meet specific member needs with flexible repayment terms.
How long does loan approval take?
Loan processing typically takes 3-5 working days for standard loans. School fees loans can be processed within 24 hours for urgent cases. The timeline depends on completeness of documentation and loan committee schedules.
What is the maximum loan amount I can get?
Loan amounts are determined by your savings balance, share capital, and repayment capacity. Generally, you can borrow up to three times your total savings. Contact us for a personalized loan assessment.
How much interest do I earn on my savings?
Interest rates on savings are competitive and reviewed annually based on the SACCO's performance. Dividends are declared at the Annual General Meeting and credited to member accounts. Contact us for current rates.
Can I withdraw my savings anytime?
Yes, you can withdraw from your savings account at any time during business hours. However, share capital can only be withdrawn upon leaving the SACCO or as per the bylaws. Some savings products may have notice period requirements.
Do you offer mobile banking services?
Yes! We offer USSD mobile banking services. Simply dial *384*1# from your registered mobile number to check balances, view transactions, and access other services. No internet connection required.
What are your operating hours?
We are open Monday to Friday from 08:00 to 15:30. We are closed on weekends and public holidays. For urgent matters outside business hours, you can use our mobile banking services or contact our emergency hotline.
Is my money safe with UNIQUES SACCO?
Absolutely. UNIQUES SACCO is licensed and regulated by the Reserve Bank of Malawi (License issued November 19, 2015). We are also a member of MUSCCO (Malawi Union of Savings and Credit Cooperatives). Your deposits are protected under cooperative regulations.
How do I update my contact information?
Visit any of our branches with your ID to update your contact details. You can also call our customer service line or send an email. Keeping your information current ensures you receive important updates and statements.