We have a range of products where individuals can invest their money in
SharesYou can buy as many shares in Glory SACCO and earn dividends every year. A share costs 20,000/= each. Requirements for buying shares in Glory SACCO
- Three passport photos
- A copy of national ID, driving permit or passports
- Membership fee ........................10,000/=Shillings
- Passbook fee ...........................3,000/=Shillings
- One Share ................................20,000/=Shillings
- Min-balance on saving A/C .........10,000/=Shillings
LandMembers have an opportunity to invest in land which has been acquired by Glory SACCO.This product gives an opportunity to pay in affordable installments for a good period of time. A land tittle can be used as collateral to acquire a loan through Taka Loan and Church Taka Loan
Investment Club LoanThe investment club loan has been a platform for inspiring the youth to save and invest in assets. This loan is given to investment clubs who are full members of the society.
The following applies to the acquisition of Investment Club loan
- The maximum principle amount guaranteed to the clubs shall not exceed 10 times the club’s share capital.
- Currently, the maximum amounts of principle loan is shillings 10 million.
- Any amount exceeding shillings 500,000 Uganda shillings shall require collateral /security unless such a loan is fully covered by the club share capital/fixed deposits and such club has not guaranteed anybody.
- The club members shall be the guarantors required unless such loans are fully covered by club shares or fixed deposit amount and such a club has not guaranteed anybody.
- The maximum repayment period is twenty four (24) months
- An affidavit signed by the society‘s lawyer is required if the payment period exceeds twenty four (24) months.
- Business assessment must be done before loan disbursement.
- Interest rate is 3% per month on flat rate.
- Loan processing of 1% shall be charged.
- Insurance of 1% of total loan shall be charged.