| Central Office 1st Floor, Thibault House, Foreshore, P.O Box 8230, Roggebaai, 8012 Tel: + 27 + (21)4187258 Fax: + 27 + (21)4187263 Email: info@saccol.org.za |
Gauteng office Shop 15, Stax Village, 46 Voortrekker Street, P.O Box 1794, Alberton, 1450 Tel: (011) 8694167 Fax: (011) 9078148 |
| Eastern Cape office 702, 7th Floor, Oxford House, Oxford Street P.O Box 306, East London Tel: (043) 7224759 Fax: (043) 7224789 |
Limpopo Office Standard bank Building, 2nd Floor, 49 Landross Mare Street, Polekwane Tel: (015) 2913510 Fax: (015) 2912697 |
Start Up Kit: A comprehensive step-by-step guide, including model and statutory forms on how to start up and register your SACCO with SACCOL and the Register of Cooperatives. The start up process is outlined in Part 3: How to start a SACCO
Onsite and telephonic advice: All SACCOL staff plays an invaluable role to start up and established SACCOs, providing advice from their collective experience in working with other SACCOs.
Human Resources Kit: As most SACCOs are employers of employees, this kit has been developed to provide SACCOs with the forms and procedures required to employ, monitor and assist with the managing of staff.
Future Kits: Future kits SACCOL is embarking on are Director manual, supervisory committee manual, accounting manual, loan kit and operational manual for start up SACCOs.
| Handbooks and promotional materials: SACCOL has designed and produced a number of generic promotional handbooks and pamphlets to assist start up groups and established SACCOs promote the concept among their common bonds. |
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TRAINING SERVICES
SACCOL offers its members SACCOs a variety of methodologies toward training volunteer directors and SACCO staff. These include:
Distance Educational Modules: All SACCO Board and staff members are required to register and complete the Board (BOP) and/or Staff (SOP) Orientation modules. The orientation modules form part of a 10-part distance educational course, currently being re-written to meet SETA unit standards. The various courses comprise of the following modules:
| Chapter 1: Introduction to SACCOs |
Chapter 6: Financial Statements |
| Chapter 2: SACCO Structures |
Chapter 7: Financial Analysis |
| Chapter 3: Duties and Responsibilities of Directors |
Chapter 8: Financial Goals and Planning |
| Chapter 4: The Role of the Manager |
Chapter 9: Risk Management |
| Chapter 5: Member Relations |
Chapter 10: SACCO Lending |
The Board Orientation Program (BOP) course consists of modules 1-4, while the Staff Orientation Program modules 1,2,4 and 5. To receive the Advanced Program certification the outstanding six modules need to be completed.
Provincial Forums: Are scheduled by each province to provide peer training on topics decided by each province, usually on a monthly basis. It is an opportunity to discuss common issues and problems amongst each other.
National Manager Training: Over the past few years, SACCOL has scheduled bi-yearly national manager training sessions for managers and staff to workshop and discuss issues common to the movement
E-Library: A range of educational resources is available at SACCOLs Head Office. In an attempt to share these resources with our members, a list is available on the Internet from where they can be borrowed, at the cost of postage, for a short period of time. This is a member only service.
Continental and International Training programs: Our members are kept informed of continental and international training programs held. Every year a continental program is held, in a different region (Southern, Eastern, Eastern or Central) of Africa and our SACCOs are encouraged to budget to attend.
VALUE ADDED SERVICES
CUBIS: Once a SACCO has reached more than 100 people and looks like it is about to take off, it can be burdensome for a treasurer to do all the bookkeeping manually on a voluntary basis without any help. SACCOL was tasked by its members to find user-friendly micro-finance software. SACCOs have opted to use an Irish system called CUBIS provided by the company Fern. Some of the advantages of computerisation are:
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Please contact SACCOL for a demonstration CD and as to the cost of a software licence and annual maintenance costs.
Funeral Insurance: SACCOs may opt to use the jointly negotiated voluntary funeral benefit scheme co-ordinated by SACCOL. Two schemes are being offered to members procured through Zimisele Insurance Brokers, underwritten by Hollard. Benefits to insured members are as follows:
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Scheme 1: R14.50 |
Scheme 2: R21.00 |
| * Member |
R 7,500 |
R 10,000 |
| * Spouse |
R 5,000 |
R 7,500 |
| * Children: 14 - 21 years |
R 3,000 |
R 3,000 |
| * 6 - 13 years |
R 1,500 |
R 1,500 |
| * 1 - 5 years |
R 1,000 |
R 1,000 |
| * 0 - 11 months |
R 500 |
R 750 |
Loan Protection Insurance: Once a SACCO begins generating income, as an incentive to save, the SACCO offers its members loans insurance. A SACCO typically pays for this insurance through it operating surplus. The loan protection insurance pays up a members loan should they die.
It is compulsory for any SACCO giving out loans to insure its loan book, however the use of the SACCOL loan protection insurance is optional.
Central Finance Facility (CFF SACCO): SACCOL currently administers the CFF SACCO on behalf of its members. It is compulsory for all SACCOL members to belong to the CFF SACCO.
The CFF is a central fund where SACCOs deposit 10 percent of their assets to the fund. This figure is updated annually to maintain the 10% required. One percent of the 10% is invested as shares and the other 9% is considered a compulsory deposit. The CFF is in some way a SACCO for SACCOs whereby SACCOs invest 10% of their assets as well as any surplus funds. SACCOL invests the pooled funds centrally and can negotiate higher returns for member SACCOs. The main objective of CFF is to invest money back into the SACCO. At present 25% of this fund is invested in financial institutions and 75% is available to SACCOs in the form of loans.
REGULATION AND EXAMINATION SERVICES
Part of SACCOLs mandate is to regulate all SACCOs and ensure they meet all legislative requirements, prudential and administrative standards as determined by SACCOs from time to time.
To facilitate this process SACCOL has a number of methodologies and tools it uses to monitor SACCOs.
Regulatory Requirements Kit: A comprehensive guide to the regulatory requirements each registered SACCO is supervised and regulated by. The kit includes various Acts, Bills, Statutes and the prudential as well as administrative requirements of SACCOL. Included are also forms required by SACCOs to submit to SACCOL as part of our regulatory functions
Examinations: Examiners are deployed to the Eastern Cape, KZN and Gauteng provinces. The will conduct inspections of SACCOs and report back to the SACCOL and SACCO Board and staff their findings. Should SACCOs fall short in certain area’s, the examiners will, jointly with the SACCO determine corrective measures to be monitored by the examiner.
PEARLS management Tool: Is a computerised financial management tool that enables SACCOL and SACCOs to track 45 key financial ratios in the SACCO and monitor trends. Five of the ratios form minimum prudential standards for SACCOs
Stabilisation fund: The 2003/2004 SACCOL AGMs resolved that SACCOL should set up a stabilisation fund for SACCOs. The fund will be located in the CFF and all SACCOs meeting certain standards will contribute to the fund and be able to guarantee their members deposits.