A Reliable Financial Partner
Access to affordable credit and saving services
for better financial and social well-being
Background
IMG Staff Saving and Credit Cooperative Society Limited was duly registered in 2014 under registration No 10905 RCS under the laws of the Republic of Uganda by the registrar of cooperatives.
Originally, IMG Staff Sacco membership comprised of staff members from IHK, IMC, IMGP, IMF, IHSU (now CIU) and IAA (now Prudential). IMG Staff Sacco has grown from 147 founding members to now 652 fully registered members.
Our Mission
To economically uplift the social economic status of our membership by offering them quality, affordable and diversified financial services.
Our Vision
To be the preferred financial service provider by provision of tailor-made financial services to its membership.
Our Values
- Integrity,
- Transparency,
- Accountability,
- Reliability,
- Innovativeness,
Who can Join?
Staff member of IMG network or vendor
How to become a member
Sacco Membership entry and exit is voluntary. At entry, you will be required to submit the following.
- 2 passport sized photos
- A copy of National Identification
- Payment of 10,000Shs a non-refundable registration fee, 50,000Shs minimum share value and 20,000 is minimum saving
What is Share capital?
Share capital is the equity or core capital of the Sacco and represents each member’s ownership of the Society in terms of shares. It is also a legal requirement for the Sacco to have a stipulated capital level. The minimum share capital per member of IMG Staff Sacco is 50,000Shs (5 shares).
A member can have more than the minimum share capital of 50,000Shs and a maximum of one third of the cooperatives total current share capital. IMG Staff Sacco has a mandatory quarterly share purchase of 10,000Shs per shareholder.
Share capital is not withdrawable but can be transferred to another member. Share capital earns dividend yearly as declared and approved by the AGM.
Member Deposit
- Every member of the sacco must make regular contributions (at least monthly) to his/her savings account.
- The deposits are a member’s savings hence one decides how much to regularly save.
- Deposits are refundable when a member exits from the Sacco.
- Deposits earn interest as adopted by the AGM every year.
- Minimum monthly deposit of 20,000 ugx
- Deposits determine the borrowing level (as a multiplier) and the guarantee level for a member.
Available modes of payment
- Cheque payments (current and postdated)
- Cash deposits to our office
- Cash deposits to our bank (Account names-IMG Staff Sacco Limited, Bank Name-Housing finance Bank, Branch- Namuwongo branch Account Number 0300150399
- AIRTEL MONEY (step 1Dial *185*9#, step 2 enter Business Number 1195561, step 3 enter amount to be paid, step 4 Enter reference (reference should be both your names. Step 5, enter Pin and send. You will receive an SMS notification of deposit from Sacco.)
Our SACCO in numbers
Fully Paid Membership
Loans Issued Monthly
Active Members
Monthly Savings (In Millions)