The UMA SACCO Prosperity Model
The UMA SACCO has a prosperity model for all members. A member first saves and buys shares thereby building up an investment with the SACCO. This investment qualifies the member to borrow at a favorable interest rate. A borrower is empowered to the extent that by the end of the loan repayment, the borrower ends up wealthier and more prosperous than at the time of borrowing. UMA SACCO has been privileged to enable members to access investments like: a house, plot, vehicle, medical equipment, tuition, to mention but a few. At the same time, the member who borrowed will still have an investment with the SACCO and can look forward to earning interest and dividends at the end of each financial year. Furthermore, with continuous saving they can even borrow more than what they borrowed previously! Is this not something amazing?
Moreover, the small interest charged on the loans in still the same profit that members benefit from at the end of the financial year! Now let’s say another financial institution for example a microfinance institution offers a loan rate of 2% per annum, however nice this rate can be, you would not earn a single penny from that institution for borrowing from them. The SACCO allows you to set your own interest rate (because you are the owner of the SACCO) and again receive all the profits generated from the incomes made in the whole year. That is the UMA SACCO prosperity model for you.