The first conversation is a chance to understand how the SACCO works. Ask for explanations and make your decision once the requirements are clear.
Steps to follow
Explain your purpose
Do you want to save, work as a group or prepare a project? Write your purpose in one sentence and note your intended timeframe.
Confirm what to bring
Ask the SACCO which documents are needed and how to provide them. Do not send ID copies or account details to an unverified recipient.
Ask for clear information
Ask about membership shares, saving and withdrawals, applicable tariffs and account records. Request explanations in a language you understand.
Note the next step
Keep the documents provided. Note unanswered questions, anything still required and how to follow up with the SACCO.
A planning example
Three example questions
“What should I understand about a membership share? Where can I get the requirements and tariffs in writing? Who can I contact for further explanations?” Write these in your notebook before the visit.
Your reminders
- I know the purpose of the conversation.
- I have confirmed the required documents.
- I understand what I agree to before signing.