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 and Oromiya region by registering at the federal level by the Federal Cooperative Agency.
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 and Oromiya region by registering at the federal level by the Federal Cooperative Agency.
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 of 1,600.00 ETB
S/he should buy share of minimum 2,000.00 ETB
S/he should be above 18 years old
S/he should be willing to be abided by the by 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 loan and you could also increase your knowledge on cooperative, basic business skills and financial knowledge.
Remember: loan is provided for members only.
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1.
Loan type: Social Loan
Max. Loan: 400,000.00 ETB
Pre-loan saving and time requirements:
Loan interest: 13.5% for Male & 13% for female
Repayment period: 3 Years
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2.
Loan type: Small Business Loan
Max. Loan: 600,000.00 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: 800,000.00 ETB
Pre-loan saving and time requirements:
Loan interest: 14.5%
Repayment period: 5 Years
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4.
Loan type: Business Car 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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5.
Loan type: Housing loan
Max. Loan: 2,000,000.00
Pre-loan saving and time requirements:
Loan interest: 15.5%
Repayment period: 15 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 had 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 grace period. So if a member who have taken loan this month, s/he 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 16 branch offices 11 of them are in Addis Ababa, 4 in the Oromia region And 1 in Sidama. The offices and their addresses are around:
Head Office (Aware Agar Building)
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 )
Bishoftu Brabch (Tenker and his family Building, 2nd Floor, Bishoftu)
Chancho Branch (Adam Building, Ground floor, Chancho)
Sebeta Branch (Sebeta Town, Around Sambusa House, Infront of Oftana Building)
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
Hawassa Branch (Near The Old Station Tigest Hotel 1st Floor
Yes we are member of the International Co-operative Alliance (ICA) and associate member of the African Confederation of Co-operative Savings and Credit Associations (ACCOSCA)
A member has to buy at least two shares, i.e. 2,000 birr shares. The amount of one share is 1,000 ETB.
Yes, Cooperatives are established based on the principle of open membership. It means that a member has a free will to join or leave a cooperative.