Members
A teller enters the name, the phone, and the national ID. The ID is unique inside that SACCO. Until the membership fee and the minimum shares are posted, the member stays a draft and cannot borrow or guarantee.
Features
The movements a counter already makes.
Daybook records them. It does not add a member login, a USSD menu, or a mobile app.
Savings, shares, and the fee
The fee is income. It is not savings. Shares increase the member’s share count. Savings are deposits minus withdrawals. A withdrawal stops if it would pass the minimum balance, or if those savings are pledged to a loan.
Three places for money
Cash, bank, and mobile money. Cash is the only channel that needs an open drawer. A transfer between pots is its own row. Dividends are credited to savings and do not pretend to be cash in the drawer.
Loans
A SACCO keeps up to three products. Each has a flat monthly rate, a tenor, and a number of guarantors. Interest is principal times the rate times the months. The schedule splits that into equal installments. Repayments fill the oldest unpaid installment first.
Guarantees
Each guarantor pledges savings. The pledges must add up to the principal. Pledged savings cannot be withdrawn while that loan is pending, approved, or active. A draft member cannot guarantee.
Arrears and the portfolio
An installment is late when its due date has passed and it is still unpaid. PAR 30 is the outstanding of active loans whose oldest late installment is past 30 days, divided by all active outstanding.
Welfare and dividends
A welfare contribution comes in. A payout, for a hospital, a burial, or school, goes out of the cash pot. It is not a withdrawal from savings. A dividend is declared as a percent of shares and credited on the day you choose.
Staff
A platform admin opens a SACCO and its first admin. The admin keeps settings, products, and staff, and approves loans. A teller joins members and posts cash. Each person sees only their SACCO.