Namasuba Youth SACCO - Terms and Conditions

1. Membership

By registering as a member, you agree to:

• Provide accurate and truthful information during registration
• Maintain your membership in good standing by meeting all financial obligations
• Comply with all SACCO bylaws, rules, and regulations
• Pay required membership fees and subscriptions as determined by the SACCO

2. Savings and Deposits

• Members are required to maintain minimum savings as specified by their account type
• All deposits are subject to verification and approval
• Interest rates on savings are determined by the SACCO board and may change
• Withdrawals are subject to account type restrictions and SACCO policies

3. Loans

• Loan eligibility is based on savings history, account type, and SACCO policies
• All loans require approval from the SACCO credit committee
• Members must provide guarantors as required by the SACCO
• Loan terms, interest rates, and repayment schedules are determined by the SACCO
• Failure to repay loans may result in suspension or termination of membership

4. Shares

• Members may purchase shares as per their account type limits
• Share values are determined by the SACCO and may fluctuate
• Dividends are distributed based on SACCO performance and board decisions
• Share transfers are subject to SACCO approval and account type restrictions

5. Account Management

• Members are responsible for maintaining the security of their login credentials
• All account activities must be conducted through authorized channels
• Members must update their profile information when changes occur
• The SACCO reserves the right to suspend accounts for non-compliance

6. Fees and Charges

• Membership fees, annual subscriptions, and service charges apply as per account type
• All fees are non-refundable once paid
• Late payment fees may apply for overdue obligations
• Fee structures may be updated by the SACCO board with prior notice

7. Privacy and Data Protection

• The SACCO will protect member personal and financial information
• Member data will only be used for SACCO operations and as required by law
• Members consent to the use of their information for SACCO communications

8. Termination of Membership

• Members may withdraw from the SACCO by giving proper notice
• The SACCO may terminate membership for violations of terms or bylaws
• Upon termination, members will receive their savings and shares as per SACCO policies

9. Dispute Resolution

• Disputes will be resolved through the SACCO's internal procedures
• Members may appeal decisions to the SACCO board
• Final disputes may be referred to relevant regulatory authorities

10. Amendments

• The SACCO reserves the right to amend these terms and conditions
• Members will be notified of significant changes
• Continued use of services constitutes acceptance of amended terms