CO-OPERATORS INVESTMENT (CIA) ACCOUNT
To attract savings from UCCFS members that can be fixed for a specified period of time that can be withdrawn on maturity. It attracts interest on maturity.
Minimum deposit is 1,000,000 UGX
Interest rate ranges between 8% to 12% depending on amount and period
No Maximum Limit.
Minimum Period is 3 Months and Maximum is Infinity.
CENTRAL FINANCE FACILITY (CFF) ACCOUNT
This is a Compulsory Savings Account for all UCCFS members
Initial deposit is 1,000,000 UGX
Savings category
(1M to 4.9M)UGX receives a Bronze Certificate and earns interest of 0.5% per month
(5M to 9.9M)UGX receives a Silver Certificate and earns interest of 0.6% per month
(1OM to 20M)UGX receives a Gold Certificate and earns interest on 0.7% per month
(Above 20M)UGX receives a Platinum certificate and earns interest of 0.8% per month
INSTITUTIONAL RESERVE ACCOUNT (IRA)
As per cooperative societies Act (1991) cap 112 sec 47 and regulation 34 of the cooperative societies regulations, 1992 states and provides cooperatives to maintain a reserve to be paid at the end of each financial year. This is 10% of the net gain/surplus resulting from the operations of the society during the financial year. This reserve fund shall be invested in a registered co-operative bank, or such other mode as the registrar may approve (UCCFS) to prepare member SACCOs for the Law (Compliance).
Interest rate of 6%
CO-OP TARGET SAVINGS
This would help cooperatives that cannot take up big cash out flow and continue in operation. For example if a cooperative would like to acquire a big asset that needs a large sum of money, this would affect its liquidity. Therefore cooperatives would save with UCCFS and ensure that no withdrawal is made until the targeted amount for a specific item like land acquisition is reached as per the agreement. To plan for future large cash outflows.
Interest rate of 8%
BUSINESS INVESTMENT ACCOUNT
This is targeting the individuals who have money to be invested in return for interest. This will be especially for non members who have ideal money for investment for such return of interest.
Interest rate of 8%
Target clientele are;
Businessmen/Sole proprietorship
Companies and associations
ORDINARY SAVINGS
To attract voluntary savings from UCCFS members that can be withdrawn any time by a member on demand without limitation.
Initial Deposit is 500,000 UGX
No minimal and maximum period
Interest rate is Nil