St. Luke’s Church Mulago Family Healing Cooperative Savings and Credit Society
St. Luke’s Church Mulago Family Healing Cooperative Savings and Credit Society was formed with an aim of bringing Socio – economic and Spiritual Healing to its members and families through monthly savings of finances to create a pool of money to meet its objectives.
Background: During a prayer meeting under Family Healing Prayer Ministry on Friday 18th Dec 2015 at the home of Rev. Canon Festus Udongo, it came to pass that a vision for the SACCO was shared, as the Bible says in Hab 2:2-3 “Write down this vision and clearly inscribe it on tablets, so that a herald may run with it. 3For the vision awaits an appointed time; it testifies of the end and does not lie. Though it lingers, wait for it, since it will surely come and will not delay.”
- Vision: To build economically, socially, and spiritually prosperous families and communities.
- Mission Statement: To promote a saving culture, investment, social support and Gods ministry among members to transform families and communities.
- Christ centered
- Prosperous families
- Transparency and accountability
- To enhance Personal and Family development for the Members.
- To support Gods ministry.
- Applicant should be 18 years of age and above.
- Applicant should be of good character.
- Applicant shall fill membership application form available at the office
- Applicant shall pay membership fee of 20,000/= (payable once at the time of joining)
- Applicant shall pay Subscription fee of 20,000/= (payable once every year)
- Applicant shall buy at least one share in order to be admitted as a member (a share is 50,000/=)
- Applicant agrees to remit monthly savings of a minimum of 50,000/=.
- Agrees to support Gods ministry with 10% of the interest realized from the group’s investment.
- Applicant shall present a photocopy of a valid ID
- 1 passport photo.
- After joining the SACCO, a personal account for the member is opened and all transactions pertaining the individual shall be posted to that account on monthly basis.
- Statements of Account; A member can apply for a statement of his/her account at any time.
Every member is in charge of depositing his/her savings in the bank at any Pride Micro Finance Bank Braches on;
Account Name; ST. LUKE CHURCH MULAGO FAMILY HEALING CO-OPERATIVE.
Account Number: 1001201123506
NB. Give in your name when depositing so that it will show on the Bank statement as the owner of the money deposited.
NB. After Depositing, write the details of the deposit on the Deposit slip you get from the Bank; indicating your Name, amount for savings and amount for shares.
Deliver the deposit slip to the SACCO office and ensure that you receive the Receipt that you must keep jealously.
Savings and Shares:
Savings Every member is obliged to save a minimum of 50,000/= per month but one can save any amount above 50,000/=
- After saving for 4months, a member is eligible to apply for a loan facility in accordance to the Loans Management policy.
- A member can authorize transfer of his/her savings in to shares at any moment.
- After the first 6 months of saving, a member is eligible to withdraw their available savings.
- a share is money that a member deposits/pays to the SACCO giving him/her ownership of the SACCO and earning interest from investments.
- At the moment, each share costs 50,000/=
- A member can sale his/her shares to another member.
- Members are currently benefiting from very easily accessible Loans at 3% calculated on a reducing basis acquired writhing hours after applying.
- A member can apply for loan worthy twice their savings.
- A member can apply for alone after saving for only 4months.
Photo Gallery from past AGMs
Office Tel: 0701905333/ 0703839556/ 0782045085