Welcome to Munno Ddala SACCO. By registering as a member, accessing our portal, or depositing funds, you agree to be bound by these Terms of Service and our Constitution. These terms govern the financial and social relationship between you (the "Member") and the Cooperative.
1. Membership Eligibility
To join Munno Ddala, you must:
- Be at least 18 years of age (or be a minor registered under a Family Head).
- Register as part of a recognized "Family Unit" or as an individual planning to form one.
- Pay the non-refundable Registration Fee and the Annual Subscription Fee.
2. The 70/30 Split Policy
You acknowledge and agree that all deposits made to the SACCO are subject to an automatic allocation rule:
Investment Savings
Credited to your personal account. This portion is refundable upon exit and earns interest based on SACCO performance.
Welfare Pool
Non-refundable contribution to the community fund. This grants you access to emergency support (medical, bereavement).
3. Withdrawals & Termination
Withdrawals: Savings (the 70% portion) are locked for a minimum period of 12 months to allow for investment maturity. Emergency withdrawals may attract a penalty fee as determined by the Executive Committee.
Termination: A member may leave the SACCO by giving 30 days' written notice. Upon termination, you will be refunded your accumulative 70% savings and any accrued dividends. The 30% welfare contribution is not refundable.
4. Code of Conduct
Munno Ddala is built on trust. Membership may be revoked for:
- • Providing false information during welfare claims.
- • Engaging in fraudulent financial activities.
- • Harassment or abusive behavior towards other members or staff.
5. Limitation of Liability
While we strive to secure all investments, Munno Ddala SACCO is not a bank. Investments are subject to market risks. The SACCO shall not be liable for losses resulting from force majeure, civil unrest, or authorized system failures beyond our reasonable control.
These terms are governed by the Cooperative Societies Act of Uganda. Any disputes shall be resolved first through the SACCO's internal dispute resolution mechanisms before seeking external arbitration.