Awach SACCOS is a legally established saving and credit cooperative in Ethiopia. It was established in 2007 G.C., and it is serving the people in Addis Ababa, Oromia, Amahra, Sidama, the Southern Nations and Nationalities of Ethiopia, South West Ethiopia, and the Central Ethiopia region by registering at the federal level with the Federal Cooperative Confederation.
The criteria’s to be a member of Awach SACCOS is :
S/he should be living in the operation area of Awach SACCOS offices
S/he should be able to pay registration fee as per the SACCOS Limit.
S/he should buy two shares and an initial deposit as per the SACCOS limit.
S/he should be above 18 years old
S/he should be willing to abide by the law of Awach SACCOS
Cooperatives are people-centered enterprises owned, controlled, and run by and for their members to realize their common economic, social, and cultural needs and aspirations. So by becoming a member of Awach SACCOS, you could have an organization that you own, control, and possibly run. Also, you could develop your culture of saving, create access to loans, and increase your knowledge of cooperatives, basic business skills, and financial knowledge.
Remember: loan is provided for members only.
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1.
Loan type: Social Loan
Max. Loan: 800,000.00 ETB
Pre-loan saving and time requirements:
Loan interest: 13.5% for Male & 13% for female
Repayment period: 5 Years
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2.
Loan type: Small Business Loan
Max. Loan: 1,000,000.00 ETB
Pre-loan saving and time requirements:
Loan interest: 14.5%
Repayment period: 5 Years
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3.
Loan type: Automobile loan
Max. Loan: 2,500,000.00 ETB
Pre-loan saving and time requirements:
Loan interest: 14.5%
Repayment period: 10 Years
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4.
Loan type: Business Car Loan
Max. Loan: 3,000,000.00 ETB
Pre-loan saving and time requirements:
Loan interest: 14.5%
Repayment period: 10 Years
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5.
Loan type: Housing loan
Max. Loan: 5,000,000.00
Pre-loan saving and time requirements:
Loan interest: 15.5%
Repayment period: 20 Years
Yes, for every loan equitable collateral has to be provided. The types of collateral are:
Saving collateral – is using one member saving as a loan collateral for another member
Salary Collateral – A member could bring another person’s salary as collateral. The person salary has to be more than 5,000 ETB and that he should be a permanent employee at his organization and should be able to bring his/her spouses to sign for agreement.
Fully insured vehicle collateral
Legal House collateral
No, there is no grace period. Since there is a need for quick circulation of money, we don’t have a grace period. So if a member has taken a loan this month, he or she must start repayment the next month.
The head office is around Aware, Edna Addis Hotel at Agar Building, Main Branch Mexico Hebert Bank Head Office Building And we have 31 branch offices 16 of them are in Addis Ababa, 9 in the Oromia region And 2 in Sidama, 1 in South West Ethiopia, 1 in South Ethiopia, 1 in Amhara and 1 in Central Ethiopia. The offices and their addresses are around:
Head Office
AWACH SACCOS LTD., HEAD OFFICE
Aware Agar Building
P.O.Box 34752
Free Call 6326
Mexico Head Office, where United Bank head Office exists.
Selassie Branch (Around Arat Killo, Selassie Theological Collage, 1st floor)
Stadium Branch (Yeha City Center 1st floor)
Sidest Killo (Leadership Building, Ground Floor)
Lideta Branch (AIA Trade Center, 2nd Floor)
Sehalite Mihret Branch (Dirar Mall, 1st floor)
Jemo Branch (Express Plaza Building 1 st floor)
Addisu Gebeya Branch (Jambo Building, 3rd Floor)
Bole Branch (Bole Medhanialem infront of Sheger Building, Asres Building 1st Floor)
Kality Branch (Kality Total Kafdem Building 2nd Floor)
Megenagna Branch (Meseret Defar Building, Ground Floor )
Gerji Branch (Jackros Square, on the building where Abyssinia Bank exists, 1st floor)
Saris Branch (Sendefe Building, 3rd floor)
Alem Bank Branch (Alem Bank Square, on the building where Awash Bank exists, 1st floor)
Filance Branch (G.E.A.M.A.F Building, 2nd Floor)
Kolfe Branch (Around 18 square, Rediet Building, 1st floor)
Bishoftu Brabch (Tenker and his family Building, 2nd Floor, Bishoftu)
Chancho Branch (Adam Building, Ground floor, Chancho)
Alemgena Branch (Gelan Guda, Addis Sefer near to Tele, Infront of Biftu driving license school)
Holeta Branch (Holeta Town, Beside Kelbesa Hotel, The Same Building Hanna Pharmacy is on, 1st Building
Ambo Branch City Tele Area Nekmat Cafe And Restaurant Building 1st Floor
Adama Branch (In Front Of Warka, Next to Kidanmehret Butcher, AHY Hotel, 2nd Floor
Lege Tafo Branch (Walin Building, 1st floor)
Woliso Branch (Near to Post Office, in front of Knife Cafe', 1st floor)
Sululta Branch (Bajaj Tera, where Commercial Bank of Ethiopia exists, 2nd Floor)
Mizan Aman Branch (Mizan Square, Bergess Exit)
Arba Minch (Gamo Square, where Dashen Bank exists, 1st Floor)
Hossana Branch (In front of Colonel Bezabih Square, BNB building 1st floor)
Hawassa Branch
Branch 1, Godguada sefer, Sena building (Ground)
Branch 2, Old bus Station, Near to Tigist Hotel, 1st Floor
Debre birhan (Emperor zareyaqob square, the new building on the left of care Butchery, Ground)
Yes, we are members of the International Co-operative Alliance (ICA) and associate members of the African Confederation of Co-operative Savings and Credit Associations (ACCOSCA). Beside this, we are partners with the German Sparkassentiftung for International Cooperation (DSIK).
In accordance with the SACCOS ceiling, a member must buy a minimum of two shares.
Yes, Cooperatives are established based on the principle of open membership. It means that a member has the free will to join or leave a cooperative.