Questions members ask

Apply online through this website, or collect a paper form from the office. You will need your national ID, a passport photograph, proof of where you live and your signature. Once your application is approved, you pay your joining fee and share capital and start saving.

Membership is open and voluntary to everyone within the accepted common bond. Taumba was founded by and for women entrepreneurs in manufacturing, farming, services, fashion and trade. What members share is a commitment to save every month.

Four things: a copy of your national ID, a recent passport photograph, proof of residence such as a utility bill or lease, and your signature. Photographs taken on a phone are fine as long as the text is readable.

The membership team reviews applications within 14 working days. You will hear from us by email either way, and we will tell you if anything is missing.

Yes. Membership is voluntary in both directions. You may withdraw at any time, provided you have no outstanding obligations to the society.

A minimum monthly contribution is agreed with the membership team when you join, based on what is realistic for you. You can save more than the minimum, and you can increase it later.

Taumba SACCO is registered under the Co-operative Societies Act, Chapter 24:05, of Zimbabwe. Accounts are audited, and members receive reports at the general meeting. The co-operative exists to serve members, not to maximise profit.

Build a savings record first, then complete a loan application form at the office. The loans officer will discuss the amount, the purpose, the repayment schedule and any security required before the loan goes for approval.

Because the money is yours. The co-operative lends out the savings that members have pooled, and the goal is service rather than profit. Interest paid on savings and shares is limited and proportionate to the interest charged on loans.

Dividends are declared at the general meeting out of the surplus the co-operative has made in the period. They are paid in proportion to the share capital a member holds. The figures for each period are published to members with the annual report.

No. In a bank you are a customer and outside shareholders take the profit. In a SACCO you are a part-owner, the surplus comes back to members as dividends, and decisions are made democratically by members — one member, one vote, whatever your shareholding.

Taumba is women-led and was founded by women entrepreneurs, and membership is open to all who fall within the accepted common bond. The society does not discriminate on account of political, religious, race or gender diversity.