SACCO MEMBERS WELCOME BUSINESS OPERATION OF TIPINDULE COMMUNITY SACCO
TIPINDULE COMMUNITY SACCO is a member owned financial cooperative society offering financial services to its members. Formed on 3rd March 2018, with financial and technical support from CDF and MUSCCO the SACCO was granted a license by the regulator on 30th June 2020, to operate as a primary savings and credit cooperative society. The SACCO draws its membership from rural communities of Dowa and surrounding areas through cooperatives, Village savings and loan Associations (VSLAs), clubs, smallholder farmers and individuals.
"Women farmers accessing financial services at the Tipindule SACCO in Mponela"
TIPINDULE SACCO recognizes the challenge of working capital and lack of security of member funds for its members hence introduction of teller made products and services. It offers ordinary savings and fixed deposits to its members at a very competitive rate. The growth of deposit portfolio is mainly through Village Savings and Loan Associations (VSLAs). Cooperatives are also accessing agriculture and agri-business loans. Financial literacy training through Invest Project has deepened the understanding of the value of savings at household level.
TIPINDULE SACCO is a solution to people living in Dowa and surrounding areas. It has enhanced financial services access through cooperatives and VSLAs. Felia Sikubweza is one of SACCO members and this is what she said, “I joined Tipindule SACCO in 2018 as an individual member. I am a member of Nakalambiranji cooperative and Tilipo VSLA. My cooperative and VSLA are also members of the SACCO. I save regularly with the SACCO. Our VSLA funds are now safe. We thank Tipindule SACCO for the good initiative.’’
TIPINDULE SACCO promotes financial inclusion especially to marginalized rural community farmers and runs a mobile service which allows farmers to put the money they would have used as transport into their own household savings.
Tilipo and Pamodzi VSLAs accessing Tipindule SACCO mobile services at Nachisaka EPA.