Sibonelo Savings and Credit Co-operative Society Limited is a member-owned financial institution dedicated to up-lifting the economic and social status of members. This society was established in 1984 with an initial membership of 20. The main purpose of this society was to enable members to save and borrow funds at competitive interest rates for productive and provident purposes.
Members are notified that we shall be having our Annual General Meeting on Saturday 24th September 2016 at UNISWA Kwaluseni campusâ€™ Sports Emporium Hall. Registration shall strictly be between 0800hrs and 1100hrs. Members are urged to bring their national ID cards. Members are also requested to forward their banking details to the office to facilitate the depositing of their dividends and recruiting commission. Minutes and other documents are now available for download from the resources section.
Members are given an opportunity to save funds for their future needs on monthly basis. Over time savings grow and enable a member to embark on bigger projects without having to incur costs that come with other sources of finance. Members are encouraged to save as such becomes a source of funding. So the society offers a variety of savings products.
There are projects and other needs that arise, which need immediate financing. All members have an equal opportunity to borrow from the different loan types of the society. These needs may be construction of a family house, buying furniture or a car, etc. So what does a member do in such circumstances? That is where the issue of our loans products comes in. We offer different types of loans.
Over the years, the society realized that members’ needs were not only about savings and loans. It was noted that members needed a plan for meeting the costs associated with death of a member or dependents. As a result the society introduced the burial scheme to cater for such needs. This service is affordable.