Questions about AMCOS membership?
Find simple answers to common questions about joining AMCOS, membership requirements, savings, loans and member responsibilities.
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AMCOS brings together Christian communities through savings, affordable and ethical credit, financial empowerment and cooperative participation.
01 Who can become an AMCOS member?
AMCOS membership is open to Christian faithful of the Archdiocese of Mbarara, clergy and religious, Parish associations, Small Christian Communities (SCCs), Catholic groups, and persons who support the mission and values of AMCOS.
02 What do I need to become a member?
To join AMCOS, an applicant must complete a membership application form, pay the applicable membership fee, purchase the minimum required shares, and accept AMCOS rules and values.
03 How much is the membership fee?
The AMCOS Constitution provides that the membership fee is determined by the Annual General Meeting (AGM). Please contact AMCOS for the applicable amount.
04 How many shares must I purchase?
Members are required to purchase the minimum number of shares determined by the AGM. Additional savings may also be made according to AMCOS policies.
05 Can I withdraw my shares whenever I want?
No. Shares are different from ordinary savings. AMCOS shares are non-withdrawable but may be transferable when a member exits the SACCO, subject to the applicable rules.
06 What savings products does AMCOS offer?
AMCOS plans to provide regular savings accounts, fixed deposit accounts, youth and children’s savings accounts, and group savings schemes.
07 What types of loans are available?
AMCOS loan products include micro-enterprise loans, agriculture and livestock loans, school fees loans, emergency loans, and group or Parish revolving fund loans.
08 Does becoming a member automatically qualify me for a loan?
No. Loan eligibility may depend on membership standing, savings history, credit assessment and Parish Steering Committee vetting. Loans are also subject to AMCOS savings and credit policies.
09 What are my rights as an AMCOS member?
Members have the right to attend and vote at the AGM, elect leaders or be elected, access AMCOS products, request information about SACCO performance, and benefit from training and capacity-building programmes.
10 What responsibilities do AMCOS members have?
Members are expected to uphold AMCOS values, repay loans in a timely manner, participate in meetings, and support the growth of the SACCO through saving and recruitment.
11 Does AMCOS provide financial education?
Yes. AMCOS provides non-financial support including financial literacy and budgeting education, entrepreneurship training, and household livelihood planning support.
12 Where does AMCOS operate?
AMCOS operates within the Parishes of the Archdiocese of Mbarara. Its registered office is to be located at the Archdiocesan Headquarters in Mbarara City.
13 Is AMCOS a private business?
No. AMCOS is established as a member-owned, not-for-profit financial cooperative serving its members and communities within the Archdiocese of Mbarara.
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