Savings Products - Uganda Central Co-operative Financial Services (UCCFS)

This is a Compulsory Savings Account for all UCCFS members Members save at least 20% of the average link bank accounts to improve liquidity position in order to serve members better.
Initial Deposit is 1,000,000
Savings category
- 1M= to 4,999,999= receive a Bronze Certificate and earn interest of 0.5% per month
- 5M= to 9.9= receive a Silver Certificate and earn interest of 0.6% per month
- 10M= to 20M= receive a Gold Certificate and earn interest on 0.7% per month
- Above 20M= receive platinum certificate and earn interest of 0.8% per month

To attract voluntary savings from UCCFS members that can be withdrawn any time by member on demand without limitation.
Initial Deposit is 500,000/=
No minimal and maximum period
Interest rate is Nil.

To attract savings from UCCFS members that can be fixed for a specified period of time that can be withdrawn on maturity.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 1,000,000 Ugx Maximum infinity Ugx.
Minimum period 3 months and Maximum period is infinity.
Interest rate ranges between 8% to 12% depending on amount and period

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%

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%

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.