Affordable loans for welfare, stability, and growth
MUBS SACCO offers loan products designed to enhance the welfare of staff members through responsible credit, clear rules, and a structured disbursement process.
Loan Snapshot
Members can access personal development loans, emergency loans, and school loans, with future products planned to support even higher-value welfare and asset acquisition goals.
Types of Loans Available
The current loans issued by MUBS SACCO are geared towards enhancing the welfare of MUBS staff members.
Personal Development Loans
Also referred to as Home Improvement Loans, these support personal development and welfare improvement for members.
Emergency Loans
These are intended to support members when urgent financial needs arise and quick intervention is important.
School Loans
These help members manage education-related needs while remaining within SACCO loan rules and repayment expectations.
Future Loan Products
Following the AGM mandate of June 2024, the Board and Management planned to introduce additional loan products aimed at enhancing welfare at a higher level and enabling staff to acquire assets that would otherwise be difficult to obtain.
- New products will support higher-value welfare needs.
- Some products are intended to help members acquire assets.
- The page can be updated when these products are fully structured and rolled out.
Basic Eligibility
A member must have saved with MUBS SACCO for at least three months before becoming eligible to apply for a loan.
- Minimum savings period: three months.
- Eligibility is tied to the savings balance maintained with the SACCO.
- Loan access is governed by specific rules and limits.
Loan Rules and Guidelines
These are the main conditions and rules to consider when accessing loan funds from MUBS SACCO.
Top-Up Loan Rule
If a member wants a top-up loan, the outstanding balance on the existing loan is first offset from the new amount applied for. For example, if UGX 250,000 remains outstanding and the member wants an additional UGX 500,000, the member applies for UGX 750,000 so that UGX 250,000 clears the old balance and UGX 500,000 remains available.
Disbursement of Loans
Loans are disbursed once per week after the loans committee has reviewed applications and guided management on approved disbursements.
- Disbursement is done every Wednesday.
- Applications made from Thursday of one week up to Wednesday morning of the next week are handled in that Wednesday cycle.
- Management follows the verdict of the loans committee.
Transfer Method and Fee
Loan funds are transferred to members’ bank accounts using RTGS. A small fee is deducted from the amount disbursed, based on the RTGS fee charged by Post Bank.
- Bank transfer method: RTGS.
- A small deduction applies before funds reach the member.
- The SACCO considers the RTGS fee charged by Post Bank.
Future Changes in Loan Application and Disbursement
The SACCO outlined several planned improvements to make loan access faster, more digital, and easier for members to manage.
Online Loan Applications
Members are expected to be able to apply for loans electronically, reducing turnaround time in the application process.
More Frequent Disbursements
Loans are expected to be disbursed more than once a week once the new system is fully introduced.
Mobile Management
Members are expected to track repayments, make loan payments, and interact with the SACCO through mobile tools and a dedicated app.
Ready to move forward with a loan?
Start with the application form, review the loan guide, or contact MUBS SACCO for clarification before submitting your request.