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Our Products

The Utabibu Cooperative and savings Society exists to pool together members’
savings and extend credit to them in accordance with the cooperative principles.

The SACCO offers a variety of loan products to serve the needs of members at competitive rates. Members must save for at least six consecutive months to qualify for any loan product and are allowed to run only one loan product in each category at a time. All loans granted must be fully secured and guaranteed and are given taking into account qualification based on the multiplier in place (currently 3 times the member’s savings) and ability to repay. Interest is payable on reducing balance.

Development Loan

This is usually a major loan for development purposes e.g. Land purchase, house purchase or building, car purchase etc

Housing Loan

This is a long term loan product repayable in 72 months. It is meant to help members acquire Utabibu Investment Cooperative products.

For example:

School Fees Loan

Granted once a year and repaid within 12 months. The application form for this loan must be supported by documents from school.

Emergency Loan

Granted for purpose of sudden hospitalization, funeral, and court fine only should always have genuine supporting documents.

Refinancing Loan

This type is granted to members who already have development loans taking into account the ability to repay (1/3 rule).

Instant Loan

This is a short term loan repayable in three months.

Jibambe Loan

This is an asset financing arrangement granted for the purpose of acquiring household products.

Epuka-Shylock Loan

Is a short term advance repayable within 30 days (1 time deduction) subject to the 1/3 rule.

Savings Products

This savings products granted for the sole purpose of enabling you meet your  goals.

These include:-

The Utabibu Regulated NON-WDTS LTD exists to pool together members’ savings and extend credit to them in accordance with the cooperative principles.