Cent Cent SACCO Products

Cent Cent SACCO Membership Shares

Cent Cent SACCO Membership Shares [CCSMS]

To become a member of Cent Cent SACCO one must buy ten thousands membership shares of one United States cent each (US1c) which translates to a consideration of one hundrend United States dollars (US$100). Those wishing to join but are unable to outlay one hundred United States dollars (US$100) at one go are allowed to purchase membership shares in multiple of ten United States dollars (US$10) that is one thousand (1000) shares at a time over a period they are comfortable with.

  • These shares can only be withdrawn when the individual no longer wishes to be a member of the Credit Union.

Preference Shares

Cent Cent Preference Shares [CCPS]

Cent Cent SACCO requires a certain investment in Fixed Assets including the Technological System/Hub to enable it to be a hundred percent digital SACCO (CAPEX) as well as Operating Expenses (OPEX) to be incurred before the SACCO becomes self sustaining. The general assembly in their meeting on the 25th of July 2015 resolved to open to all members the financing of establishment costs both CAPEX and OPEX through issuance of 1750 non-voting 9% Preference Shares of one hundred United States dollars (US$100) each. This window will be closed as soon as the SACCO can sustain its operations.

  • It was also resolved that specialised services offered by agreeable members or non-members can also be settled (during this period when the SACCO has no capacity to pay cash upfront) by offering redeemable preference shares in lieu of cash.
  • This was agreed when it was established that accumulating capital using the traditional method of modestly priced membership shares would require attracting a large number of members before operations commence – which would be a potentially daunting challenge.


Main Saving Account [CCMSA]

Main Savings is the Sacco Core Saving that every member must have in order to access all Sacco products and services while enjoying annual interest returns based on Sacco’s profitability. The account is opened by an initial deposit of ten dollars $15 after one has been admitted as a member in the Sacco.

The Main Savings Account is the heart of your membership in the SACCO.

The objective of Main Savings account is to encourage regular uninterrupted savings for the purpose of building one’s long term savings for future use and development goals through cheap Sacco loans.

Benefits of Main Savings Account:

  1. Opportunity to build a long term Savings for future use
  2. Access to cheap Sacco loans and other services
  3. Loan entitlement at a multiple of 4 times your savings
  4. Use as loan collateral
  5. Annual interest returns based on Sacco’s profitability

If you are looking to borrow money for an investment, buy an asset/equipment, take out a loan to meet personal needs, then having a Sacco Main Savings Account where you make regular contributions will make you eligible for any of these loans and other financial products to reach your goals.

You must have been a member for six months to qualify for a loan, saving regularly and consistently is to your advantage depending on the magnitude of the loan you intend to take out.

The more money you contribute to your Main Savings Account, the bigger the loan you can qualify for. You will be eligible to borrow up to four times (x4) the amount you have saved in your Sacco Main Savings Account.


Become a member of the Sacco and consistently contribute to your Main Savings for a minimum of six months before you apply for a loan. Find out what you need and the benefits of becoming a Sacco member.

Fixed Term Deposits

Cent Cent SACCO Negotiable Fixed Term Deposit (CCSNFTD)

Do you have money that is earning you very little to no returns? Are you tired of losing money in your bank account to bank fees while it earns you nothing? Do you want to generate income through the Sacco?

The Cent Cent SACCO Negotiable Fixed Term Deposit is a fixed income investment designed to give you guaranteed and competitive return on your money. It offers flexible investment periods and earns you interest, which you are then paid together with the principal amount invested upon maturity.

With The Cent Cent SACCO Negotiable Fixed Term Deposit , you can fix your money for 3 months, 6 months or 12 months and earn a guaranteed interest of 24% – 48% p.a after which you can then withdraw the principal amount together with the interest earned, at the end of the fixed period.

How will you benefit from the Cent Cent Fixed Term Deposit account?

  1. Earn a competitive interest rate of 24% – 48% p.a. depending on amount saved and period of investment.
  2. The interest rate is fixed and guaranteed for the term of the investment, so you don’t have to worry about declining interest rates.
  3. You can invest as little as $25.
  4. Flexible investment periods to choose from; 3 months, 6 months or 12 months.
  5. Receive a free advice slip through your email address upon maturity.
  6. The principal and interest earned is with-drawable upon maturity of contract.
  7. The principal and interest can be rolled over on maturity.
  8. Investing your money in the Cent Cent SACCO Negotiable  Fixed Term deposit is a good move for pursuing short-term & long-term goals.

Cent Cent Fixed Term Deposit

Product Features:

  1. A member can have more than one fixed term deposit account.
  2. A member may use any of fixed term deposit as a loan security.
  3. Interest forfeiture if you break the contract before maturity.
  4. Fixed term deposits cannot be used for loan entitlement.
  5. After one year, a fixed term deposit can be transferred to Sacco Main savings and the member immediately qualifies for a loan of up to three times so long they have been making minimum contributions to Main savings.
  6. Interest earned will be prorated as per below matrix;
Principal Savings 3 Months Interest Earned 6 Months Interest Earned 1 Year Interest Earned
At least $25 24% p.a 36% p.a 48% p.a 


Where will the Sacco invest your Fixed Term Deposit money?

Cent Cent SACCO Negotiable fixed term deposit will be invested in securities and financial instruments that guarantee safety, liquidity and return on investment. For this reason the Sacco investment options will be limited to:

  • Government Treasury Bills
  • Government Bonds
  • Money market fund – which offers a guaranteed indemnity cover.
  • Fixed deposit accounts in banking institutions licensed under banking Act.

The advantage of pooling funds rather going it alone

At any given point pooled funds earn at the highest level of the sum-total of the pool, for example some financial institutions do not give interest for amounts less than one hundred dollars ($100) and some will not give interest for amounts less than ten thousand dollars ($10000) dollars. But if your one cent contribution is sitting in a pool that has already exceeded the non interest earning threshold it means in that pool your single cent earn interest at the highest rate possible.

What will happen upon maturity of your investment?

A member who invests their money in a Fixed Term deposit account can opt to do any of the following once their investment has matured.

  • Automatic refund of both principal and interest earned

    The member will automatically receive both the principal and interest earned upon expiration of the investment term, from the Sacco. The monies will normally be transferred to member’s bank account of choice.

  • Roll over both the principal and interest earned

    A member can request the Sacco to roll over both the principal and interest earned for another investment term of 3, 6 or 12 months. The instructions to roll-over must be made in writing and should be received at least one week before maturity. The member can also choose to roll over only the principal amount while the interest is paid to him/her.

  • Transfer to Sacco Main Savings account or pay for an investment

    On maturity, you can request the Sacco to transfer both the principal and interest earned to your Sacco Main Saving account for the purpose of taking a loan or boosting of Main savings account for future loans. You may also choose to participate in other collective investment opportunities available through the Sacco.

How to open a Fixed Term Deposit Account

  1. Download the Fixed Term Deposit application form complete and email it to infor@cent-cent.coop
  2. You may use any of the payment methods listed here to transfer your money to the Sacco Fixed Term Deposit.
  3. Relax, sit back and wait for your investment to grow!
***You may transfer up to 70% of your money from Main savings Account to Fixed Term Deposit Account and earn interest. As long you have no loan and don’t plan to get a loan soon.

Productive Loans

Productive Loan (CCPL)

These are loans granted to members owning formal small enterprises of commercial and industrial activities, services, simple production, crafts, etc., and members’ start-up enterprises are also considered if bundled up with hand holding/entrepreneurial coaching. These loans are given for the following purposes:

  • Finance the working capital mostly (but occasionally start-up capital may be considered)
  • Finance the purchase of fixed assets and expansion.

Requirements and Features:

  1. Be a Sacco member with consistent contributions for a minimum of 6 months. Defaulters don’t qualify.
  2. You will be eligible for a loan of four times (x4) your total Main Savings Account contributions.
  3. At any given point the amount to be approved shall be approved subject to availability of funds.
  4. The loan shall attract an interest rate of 6.00% per month on a straight line basis.
  5. The repayment period shall be a minimum of 6 months
  6. You will need to have Sacco escrow account with equivalent of at least three months loan repayment amount. This balance must be maintained throughout the loan duration.
  7. Pay a non-refundable loan-processing fee of $10 for amounts up to $1000 and 1% of loan amount  above $1000 subject to a minimum of $100.
  8. Show proof of ability to repay the loan – payslips, other incomes etc.
  9. The Security shall be the member’s  own investments, or another member investments as a  guarantee  and / or other acceptable property. 
  10. If you use a developed property (e.g. a house) as collateral, the loan value will not exceed 80% of the market value of the property used as a collateral.
  11. If you use an undeveloped property (e.g. a plot) as collateral, the loan given will not exceed 75% of market value of the undeveloped property used as a collateral.

Documents required when applying for a loan:

 If you are employed:

  1. Payslip for the latest 3 months (Certified by a commissioner of oaths/ Notarized)
  2. Letter from employer confirming employment status (Certified by a commissioner of oaths/ Notarized)
  3. Bank statements for the latest 6 months (Certified by a commissioner of oaths/ Notarized)
  4. Copy of ID or valid Passport or driver’s licence (Certified by a commissioner of oaths/ Notarized)
  5. Two passport size photographs
  6. Security – Copy of the title document of a property acceptable by the Sacco.

If you are Self-employed or an SME:

  1. Bank statements for the latest 12 months (Certified by a commissioner of oaths/ Notarized)
  2. Copy of ID or valid Passport or driver’s licence (Certified by a commissioner of oaths/ Notarized)
  3. Two passport size photographs
  4. Business registration certificate
  5. Tax Clearance Certificate
  6. Security – Copy of the title document of a property acceptable by the Sacco

How to apply for a Normal Loan:

  1. Download the loan application form and complete in its entirety.
  2. Depending on your employment status (employed or self-employed), attach copies of supporting documents.
  3. Send by Postal Mail, the completed form with all documents and a non-refundable loan processing fee of 1% of loan amount or $10 for amounts up to $1000 .
**Forms mailed without the loan processing fee and supporting documents will not be processed. **

Download Loan Application Form

Other Loan Products

  • Micro-Leasing Finance
  • Emergency Loan (EL)
  • Life Cycle Loans (LCL):

Features in the Life Cycle Loans

  • Education Loans
  • Graduation Loans
  • Wedding Loans
  • Funeral Loans