Member

• Who can join

DWASCO SACCO membership is more accessible to you than you might think. To join DWASCO SACCO, you have to be a part of its field of membership. That means you must have some kind of common bond with other members of DWASCO SACCO. In fact, you may already be eligible to join if:

1. Your employer has established a relationship with DWASCO SACCO, and all employees are allowed to join. Currently, the SACCO is serving employees from the following employers/ institutions:

• Malawi Civil Service
• Illovo Sugar Company
• ETHCO
• NESS
• UNITRANS
• Dwangwa Cane Growers LTD
• St Anne’s Hospital
• Alinafe Community Hospital
• Malawi Mangoes
• GARDAWORLD 

In case your employer is not on the list above and you wish to join, please talk to us.

1. You are a family member of any existing DWASCO SACCO member. Family members can open doors. You may be able to join DWASCO SACCO based on a relative’s ability to meet membership requirements (even if that person is not a member).
2. You are a member of the community in which DWASCO SACCO operates. Currently, the SACCO has a physical presence in Nkhatabay, Nkhotakota, Salima, Dowa, and Ntchisi.
3. A savings group made up of more than two members
4. Two partners who wish to have a joint account
5. SMEs

• How to join

Below is the procedure for how one can become a member of DWASCO SACCO:

1. Fill in the ‘Membership application form’ and submit it at any of DWASCO SACCO’S service points. You can download the form through the following link Become a member
2. Pay a non-refundable membership fee of MK2,000.
3. Upon fulfilling the above requirements, SACCO will give you an account number.
4. All members are entitled to an ordinary savings account which requires a book balance of MK500.
5. The minimum shareholding for each member is MK11,000. This amount can be paid in full or in installments within three months from the registration date. However, those who cannot afford to accumulate a minimum amount can still be regarded as members but cannot access loan services. 
6. On a monthly basis, each member is required to contribute a minimum of MK5,000 towards their shares. 
7. DWASCO SACCO encourages its members to be saving a little something in their ordinary savings so that they can have something to serve for minor financial issues.