Savings And Credit Cooperative Organization (SACCO). Main activities include accumulation of member deposits, reinvestment of the deposit in low-risk investments like Treasury Bonds, Fixed Deposit Schemes, and Real Estate among others. SACCOs also advance low-interest rates and flexible credit facilities to her members. Interest from loan repayment forms one of the main sources of income. Profits at the close of a financial year may be paid back to members as dividends. SACCOs are the most common financial institutions in Eastern and Southern Africa. CoopSolution has revolved to accommodate all kinds of SACCOs, promoting accountability, transparency and easy compliance to regulatory policies.
Some of the Sacco Management Software Features include:
Client Registration Module (KYC) – Know your Client – allow capture of Client bio data, social economic data and any other important information about the Client. Including Client’s beneficiaries, bank details and identification documents
Member Personal Account
This module manages all Members transactions related to Accounting, Payments and Receipts.
It provides a means of processing and extraction of the information relating to Members transactions in a precise, accurate and effective manner of extracting and displaying or printing the same for analysis and decision making process.
Members payments can be received in the against
- Loan principal
- Share capital
- Lump sum charges
- Loan clearance charges
- Loan application charges
- Insurance fee
- Entrance fee
- Loan scheduling fees