Africa-Press – Botswana. Young people have been encouraged to join Thuto Savings and Credit Cooperative Society (SACCOS) for its beneficial saving plans such as valentine savings account which could be useful this month of love, and also for other offers that are at a competitive market rate.
Speaking at a media briefing on Friday, Thuto SACCOS chairperson Karabo Morule-Segobye said it was imperative for young people working for government and parastatals to use saving opportunities offered by SACCOS because as members they become the owners of the organization the moment they paid shares and open an account.
The Valentine Savings account she said all they needed to do to have it was a minimum monthly savings of P100 which would earn a 10 per cent interest annually provided the savings in that account were above P3 000.
She said the members could utilise the available digital system to view their savings progress and loan statements. She added that Thuto had focal persons in every department and districts across the country so to liase with potential members.
She said Thuto was founded in 2005 to promote a culture of savings and also to offer loans and other investment facilities to public servants and parastatal employees.
SACCOS objective was to combat poverty by enabling the poor to learn how to utilise limited resources,” she said.
Explaining more on the services, Thuto SACCOS Manager Mr Agang Oabona said they had different savings types, adding that all who wish to join, could fill membership application form and pay the non-refundable joining fee of P100 once off and pay up the share contribution of P100.
The savings accounts he said included Ordinary, Premium, Valentine, Christmas and retirement.
For loans he said Thuto offered quick, emergency, ordinary, and a P2 00 Ntshware hoo loan payable in three months deducted from the salary at a 10 per cent interest on reducing balance.
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