FAQs

Fill in the member application form that can either be downloaded from our website or can be obtained from our offices.
Attach a certified copy of national identity card and a copy of pay slip.
Minimum contribution of P100.00
Joining fee P55.00, Share Capital P200.00

High savings will qualify for bigger loans
Attractive dividends on shares and interest on savings
Lower interest rates on loans.

Registered on the 17th of September 1986 as a cooperative society by the department of coopertaives in accordance with the provisions of the Cooperative Societies Act (Chapter 42:04) 

After 3 months of saving with the Maitlamo the member is entitled to a variety of loan products such as Quick loan, Ordinary loan & Emergency loan which are granted 3 times of the member’s deposits/savings.

Members’ savings

Maitlamo SACCO does not accept cash payments. We request members who wish to deposit money into their savings to do so by depositing the money into any of our bank accounts or by paying using EFT. Members are expected to send a proof of payment once deposited.

Any loan request is approved by the credit committee based on members’ savings and capacity to repay loan.

It’s the money invested in a SACCOS by its shareholders. It’s a long term source of finance. It represents a unit of ownership. All Sacco societies are required by law to have minimum share capital. In Maitlamo the minimum is P200.00. This fund is used to cushion against any loss that maybe incurred by the SACCO in the future. For that reason this money cannot be withdrawn but only transferable in the event the member ceases membership.

Attracts dividends at the end of every year
Member owns part of the institution.