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Cente SACCO Current Account

A special deposit account designed for the purpose of accumulating savings for financing their lending operations or future investment plans thus enabling them to realize their shared objectives and goals. It is designed for SACCOs that prefer a checking account.

Product Features

  • Minimum opening deposit of UShs.200, 000
  • Minimum balance of UShs.10, 000
  • The account does not attract interest
  • Free quarterly statement
  • Minimum ledger fee of Ushs.11, 000
  • SMS transaction alerts

Benefits

  • Financial literacy and entrepreneurship training opportunity
  • Account credit balance can be pledged as collateral for wholesale credit facilities
  • One free account statement per quarter

Requirements

  • Minimum opening deposit - UShs.200, 000
  • Two (2) recent passport size photos of Account signatories.
  • Valid identification for the Account signatories including the following:
    Valid National Identity Card for Ugandans
    Passport for foreigners (Non-Ugandans).
    Refugee Identity Card for Refugees.
  • Copy of SACCO by- laws
  • Copy of the minutes, resolution and signatories with account operating mandate
  • Copy of registration issued by the District Commercial Officer or District
  • Referee who must be a Centenary Bank account holder, LC1 Chairperson, Registered Advocate, Religious Leader, RDC or CAO or any person of good repute.

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