Product Overview
The Group Account is for village savings and lending associations (VSLAs), associations and other community groups that save together. It gives your group a safe, accountable place to keep pooled savings and a formal relationship with Mubuga SACCO. Contact us to learn how we can support your group.
Key Features
Interest rates, minimum deposits and account terms must be confirmed with SACCO staff.
- For VSLAs, associations and registered groups
- Safe, accountable place for group savings
- Transactions authorised by the group's signatories
- Open with the group's documents, 2 passport photos and a national ID per signatory, and UGX 40,000
Suitable For
- Existing VSLA groups
- Community groups looking to formalise their savings
- Associations, cooperatives and women or youth groups
How to Open This Account
Visit the Mubuga SACCO office at Nyakinama Sub-county, Kisoro District. Our staff will guide you through the requirements. Do not attempt to open accounts through unverified channels.
Frequently Asked Questions
What does our group need to open an account?
The group's registration or recognition documents, minutes naming the signatories, two passport-size photographs and a national ID for each signatory, and UGX 40,000 (share capital 10,000, membership fee 20,000 and initial deposit 10,000).
Must every group member be a SACCO member?
Group membership and account requirements must be confirmed with SACCO staff.
How does the group withdraw money?
Withdrawals are authorised by the group's appointed signatories. Confirm the procedure with our office.