Welcome to Impumelelo Savings and Credit Cooperative Society

Umtfunti Investment

This is an investment product for retired members.

  • A lump sum of not less than E30,000 with traceable records shall be deposited once a year
  • A top-up of not less than E2,500 shall be allowed once a year.
  • There shall be no monthly deposit.
  • non-withdrawable untill maturity at 12 months.
  • Interest shall be re-invested on the product.
  • On resignation, the member shall be subjected to a penalty of 5% of the interest earned.
  • Provisional Shares

    This is an investment product with an attractive interest.

  • A member shall deposit a minimum of E3,000.
  • Monthly deposits shall be accepted as top up, not exceeding total provisional shares of E60,000.
  • Maximum investment shall not exceed E60,000.
  • Can be transferred to ordinary savings.
  • Can be used as collateral.
  • Insika Savings

    This is a non-withdrawable savings product for retirement.

    • Joining is Voluntary.
    • Minimum saving is E50.
    • It acts as immediate pension after retirement.
    • It act as collateral for member’s loan.
    • Interest shall be calculated annually at a rate similar to school or holiday savings.
    • This product is non-withdrawable until retirement however, 30% can be withdrawn once in 10 years.
    • The member shall notify the office in writing, 2 months before the retirement date.
    • If the member resigns before the retirement date funds will be accessible.
    • The lump sum is payable within 2 weeks of retirement as per request.

    Umliba Savings

    This is a long-term saving product for children below 18 years.

  • Every child must join under principal member.
  • The monthly minimum savings shall be E50.
  • The amount shall be deducted from the principal member.
  • the savings shall be non-withdrawable untill the child is 18 years.
  • The principal member shall not borrow in any loan product against children’s product.
  • To serve as collateral for principal member’s loans.
  • Interest from this product shall be re-invested.
  • You want to become a member now?