This document provides 11 ways that SACCOs (Savings and Credit Co-operatives) can increase their memberships and revenues. It recommends that SACCOs provide financial education to members and the public, offer competitive interest rates on savings and loans, expand their product offerings to include more financial services, improve customer service, leverage partnerships and technology, offer flexible loan terms, streamline the membership onboarding process, implement referral programs, utilize digital marketing, engage in social responsibility programs, and provide various financial technology solutions. Taking these approaches can help SACCOs attract new members and better serve existing members.

1. Member
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11 WAYS SACCOs CAN INCREASE
MEMBERSHIPS.
Practical tactics to help your SACCO
grow in memberships and increase
revenues.

2. One of the ways your SACCO can increase its
membership is by providing member education and
awareness, especially on matters of financial
literacy and investments.
You should provide your SACCO members with
information on the benefits of joining and using
your services.
Provide financial literacy to members and
the public.
www.coretecafrica.com

3. One of the main reasons people join SACCOs is to
earn interest on their savings and dividends.
Therefore, SACCOs should offer competitive interest
rates on savings and loans.
This will attract new members and retain existing
ones.
Offer attractive interest rates.
www.coretecafrica.com

4. You should take note that members join SACCOs
for different reasons ie access to affordable credit
facilities, and a platform to save or invest their
income.
Therefore come up with a variety of attractive
products that your members can benefit from
and even refer their family members, friends, or
colleagues.
Expand the range of financial services
offered.
www.coretecafrica.com

5. Prioritize providing excellent customer service to
your SACCO members.
This includes ensuring that members are served
promptly, their queries are resolved quickly, and their
needs are met.
SACCOs should also make use of technology to
improve customer experiences, using available
technologies such as core banking systems and
mobile banking platforms.
Improve service delivery to members.
www.coretecafrica.com

6. Your SACCO should establish strategic partnerships
with other organizations to expand your reach and
attract new members.
This could include partnerships with local businesses,
schools, and community groups.
These partnerships can help your SACCO to increase
its visibility and build trust within the community.
Establish strategic partnerships.
www.coretecafrica.com

7. Your SACCO should embrace technology to enhance
its operations and services. This includes investing in
digital banking platforms, such as mobile banking
systems, internet banking, and agency banking
system.
This will not only improve the efficiency of SACCO
operations but also attract new members who prefer
to bank digitally.
Embrace the right technologies.
www.coretecafrica.com

8. Offer flexible loan repayment terms to your SACCO
members. This includes longer repayment periods,
flexible repayment schedules, and low-interest rates.
This approach will attract members who are looking
for affordable and flexible loan products.
Offer loans with better terms.
www.coretecafrica.com

9. Streamline your membership application processes to
make it easier for potential members to join.
This includes simplifying the application forms,
providing online application options, and fast-tracking
the approval process.
This method will make it more convenient for your
potential members to join the SACCO.
Ease the membership onboarding process.
www.coretecafrica.com

10. Establish a referral program to incentivize existing
members to refer their friends and family to join the
SACCO.
This could include offering rewards, such as cash
bonuses or interest rate discounts.
By doing so, your SACCO can tap into the power of
word-of-mouth marketing and attract new members.
Start a referral program.
www.coretecafrica.com

11. People spend most of their time on various online
platforms, especially social media. Those are your
potential members and a good number of them need
the financial services you are offering.
Create a good online presence for your SACCO with a
good website that communicates your value
proposition to members, and make use of social
media platforms to engage with potential members
and address their concerns.
Take advantage of digital marketing potential.
www.coretecafrica.com

12. Your SACCO can implement social responsibility
programs that demonstrate your commitment to the
community. This could include supporting local
charities, sponsoring community events, and
promoting environmental sustainability.
By doing so, your SACCO can build trust and goodwill
within the community, which can lead to increased
memberships.
Take part in social responsibility programs.
www.coretecafrica.com

13. Who We Are
For the past 21 years, we have been striving to help SACCOs
grow, offer betters services to members, and
make their operations efficient.
Over 105 SACCOs across Africa have benefited from our
solutions and you can be part of them today.
What We Offer
- SACCO Management System ( Core banking system)
- Mobile Banking System
- Instant Loans Management System
- Agency Banking System
- Internet Banking System
- Call Centre Management System
- Microsoft Dynamics 365 Business Central

14. CONTACT US FOR A FREE DEMO
+254 702 111 000
info@coretecafrica.com
www.coretecafrica.com