For staff and teachers’ saccos
For staff and teachers’ SACCOs
Most of your money arrives once a month, in one remittance from the employer. Akiba Ledger is designed to match it member by member and stop deductions when a loan is paid.
Check-off without the disputes
Deductions that carry on after a loan is repaid lose members. Each month, the deduction list goes to the employer, the remittance is matched to each member’s shares, savings and repayments, and over- or under-deductions are flagged.
- A stop letter is ready the day a loan clears.
- Shares, savings and repayments in one deduction per member.
Loans members understand
The schedule on the reducing balance, the rate per year and the total cost of credit on the key facts sheet, and two guarantors from among colleagues.
Members who can check
A receipt for every deduction allocated, and balances and statements in the member’s app.
Loans to staff of the SACCO
The two laws disagree on loans to a SACCO’s own employees, so it is a setting: salary advances only by default, or by the committee.
The parts you will use most
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Money channels and receipts
Cash, MoMo, check-off, SMS
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Loans
Reducing balance, guarantors, arrears
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Reports and returns
PAR, regulator forms, AGM, dividends