Monthly Communication - October 2016

[Henry Tebajjukira]

Dear all,

As promised earlier on, below are the highlights from the month of September.

By the time we got into this, Julianne and I had a number of unknowns before us that have just been unfolding;

• We picked forms from the bank for monthly e-statements(free of charge), as oppose to a printouts that would cost us five thousand shillings per printout
  
• The SACCO's certificate of registration expired in 2015, we can not legally transact, neither can we apply for a TIN number from URA. We require an audit(may be not the right term) to re-apply for registration. Tasked Julianne to follow up on this and have it sorted by meeting date
  
• A member applied for a loan in the SACCO at the end of last month, waiting for signatures, which we hope to have done as soon as possible. Two out of the four signatories are no longer interested in the SACCO, plan to either have them replaced or getting them re-interested. The other is out of town and contact is limited.
• From our regular meetings, we realized that we need to have a four people committee, which will be formed during or after the November meeting
• Four people have expressed interest in joining us, but we have kept their requests pending until the house is in order.
• Julianne and I have committed to revamping this SACCO at all costs. Will invest both time and energy in this until it is stable enough to be taken on by new people/leadership.

Among the things to deliberate upon this November;

1. Whether to share our savings/investments at the end of a financial/calendar year. This means we meet on the agreed date and share our money, plus interest.
   
2. Whether we should change signatories or otherwise
3. The concept of buying assets(non-depreciating) for members and have them pay in installments plus a profit is a viable one and needs to be considered. Ownership is only transferable after the last penny or an amount slightly less than their savings.
4. Buy out inactive members from the SACCO.
5. Choose a SACCO head. Selection will only be made between Julianne and I. The other will take on another role on the committee. Am dedicating 3years of active service in whatever position the team has offered me, but not a signatory or treasurer
   
6. The team will, based on the turn-up comprise of 2 committee members and a maximum of four.
7. The possibility of sharing interest or savings plus interest at the end of each financial/calendar year
   

To keep the meeting short and precise, we shall restrict ourselves to the above mentioned, but like I said, we are taking baby steps, other issues like loan duration will be addressed afterwards

Tentative meeting dates are welcome, but Julianne and I will choose a final date and communicate by end of next week.

--

Twitter: @henryteb

Skype: henrytebs
Tel: +256791292881

[Daniel Isingoma]

Hello Julianne and Henry, plus the Knights Sacco members,

This is in reference to your communications about the Knights Sacco;

Most importantly, immense Thanks for the great steps being taken to
revive and revamp our Sacco. This is a very good initiative indeed, as
a SACCO enables members and society at large to achieve some financial
freedom/independence.

Below, are some of my suggestions for consideration, so as to achieve
the envisaged goal of having a thriving Knights Sacco;

1) Consider establishing at the soonest, a Knights Sacco Watsapp group
page for the members. This simple innovation immensely eases effective
communication, mobilisation of members and assists in obtaining
consensus on vital issues, on a regular basis. A number of Knights
like Brian Masiko, Freddie, etc., know how to implement this tool.

2) Consider obtaining a mobile money number for the Sacco. Some
members are challenged by the bottlenecks of moving up and down to go
the bank to deposit the savings, yet they could instantly send the
money via mobile money. However, the mobile money number should be
inter-linked with the bank account, such that, the person holding the
phone can instantly deposit the funds from the phone onto the sacco
account, without even needing to physically go to the bank.

3) For those who would want to use Bank standing orders, they can be
given the sacco account number so they can remit a given amount on a
monthly basis, from their bank.

4) Investments - can the Sacco be transformed from being majorly
focused on savings, to an Investment Club? This will encourage more
savings as members expect a return on their saved monies. As such,
most of the funds will be invested (in low-risk, but profitable
ventures) so as to obtain profits/dividends for the members. This may
also alleviate some issues like regularly having to register and
obtain a sacco licence.

5)Trainings - there are a number of free or less-costly financial
literacy trainings, that members and executive committee members can
learn from, so as to enhance their financial skills. There are also a
number of members who possess such knowledge and could constantly
share the same e.g. on the group Watsapp page, for the benefit of
everyone else.

6) Other important points for Consideration, could be;
i) Having strategic goals and objectives, but which are achievable
e.g. where should the sacco have reached after 1 month, 6 months, 1
year, 2 years, 5-10 years, etc.
ii) Utilizing persons with Passion, but also some skills/expertsie.
iii) Interest rates and security or referees, while borrowing.
iv) Having an active Supervisory Committee/Board to oversee the
executive committee's work.
v) Cut-offs on how much/how many shares a member can buy.
vi) Paying tithe to the Knights so as to support the apostolate's activities.
......etc.

The person's in charge can sieve through the above points to see if
they'll be of benefit in uplifting our sacco. I really look forward to
it thriving, and enabling a number of our knights members to uplift
themselves, financially.

Thanks, and blessings to you all,

Thank you,

With Warm Regards

Daniel ISINGOMA

Cell :- (+256) 751 918 779
The Power of the Mindset: “Whatever you can Conceive, and Believe, you
can Achieve!”

On 10/5/16, Henry Tebajjukira <henr...@gmail.com> wrote:
> Dear all,
> As promised earlier on, below are the highlights from the month of
> September.
> By the time we got into this, Julianne and I had a number of unknowns
> before us that have just been unfolding;
>

> - We picked forms from the bank for monthly e-statements(free of

> charge), as oppose to a printouts that would cost us five thousand
> shillings per printout

> - The SACCO's certificate of registration expired in 2015, we can not

> legally transact, neither can we apply for a TIN number from URA. We
> require an audit(may be not the right term) to re-apply for
> registration.
> Tasked Julianne to follow up on this and have it sorted by meeting date

> - A member applied for a loan in the SACCO at the end of last month,

> waiting for signatures, which we hope to have done as soon as possible.
> Two
> out of the four signatories are no longer interested in the SACCO, plan
> to
> either have them replaced or getting them re-interested. The other is
> out
> of town and contact is limited.

> - From our regular meetings, we realized that we need to have a four

> people committee, which will be formed during or after the November
> meeting

> - Four people have expressed interest in joining us, but we have kept

> their requests pending until the house is in order.

> - Julianne and I have committed to revamping this SACCO at all costs.

> Will invest both time and energy in this until it is stable enough to be
> taken on by new people/leadership.
>
> Among the things to deliberate upon this November;
>

> 1. Whether to share our savings/investments at the end of a

> financial/calendar year. This means we meet on the agreed date and share
> our money, plus interest.

> 2. Whether we should change signatories or otherwise
> 3. The concept of buying assets(non-depreciating) for members and have

> them pay in installments plus a profit is a viable one and needs to be
> considered. Ownership is only transferable after the last penny or an
> amount slightly less than their savings.

> 4. Buy out inactive members from the SACCO.
> 5. Choose a SACCO head. Selection will only be made between Julianne and

> I. The other will take on another role on the committee. Am dedicating
> 3years of active service in whatever position the team has offered me,
> but
> not a signatory or treasurer

> 6. The team will, based on the turn-up comprise of 2 committee members

> and a maximum of four.

> 7. The possibility of sharing interest or savings plus interest at the

> end of each financial/calendar year
>
>
> To keep the meeting short and precise, we shall restrict ourselves to the
> above mentioned, but like I said, we are taking baby steps, other issues
> like loan duration will be addressed afterwards
> Tentative meeting dates are welcome, but Julianne and I will choose a final
> date and communicate by end of next week.
>
>
> --

> *Twitter: @henryteb*
>
> *Skype: henrytebsTel: +256791292881*
>
> --
> The KNIGHTS SACCO is a legal Savings and Credit Cooperative Society for the
> Knights of St. Charles Lwanga. This email is purely for members of the
> KNIGHTS SACCO.
> ---
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> "KNIGHTS SACCO" group.
> To unsubscribe from this group and stop receiving emails from it, send an
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> Visit this group at https://groups.google.com/group/knightssacco.
> For more options, visit https://groups.google.com/d/optout.
>

[Henry Tebajjukira]

Thanks Daniel,
Whoever needs a mobile number, we can temporarily provide one and have your savings deposited not later than 2 days after receipt.

I have never seen the relevance of creating a whatsapp group for this cause, it just serves no purpose, just a social group. Mailing list works best, and good enough for now.

Am not good at the investment game but soliciting ideas from those I consider to be the best.
By the way, our money is making profit in the bank, though very little.
Our goal is to look for bigger profit magins, and all ideas are welcone.

Please come for the November meeting for a detailed discussion and progress made. Date will be communicated shortly.

A good morning to you all,

They will be discussed during our(Julianne & I) next meeting.

> email to knightssacco+unsubscribe@googlegroups.com.

> To post to this group, send an email to knight...@googlegroups.com.
> Visit this group at https://groups.google.com/group/knightssacco.
> For more options, visit https://groups.google.com/d/optout.
>

--
The KNIGHTS SACCO is a legal Savings and Credit Cooperative Society for the Knights of St. Charles Lwanga. This email is purely for members of the KNIGHTS SACCO.
---
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To unsubscribe from this group and stop receiving emails from it, send an email to knightssacco+unsubscribe@googlegroups.com.

[Mumbere mbabazi peter]

I applaud you all,yours a friend.

Mumbere peter

To post to this group, send email to knight...@googlegroups.com.