Success History of Awach SCCOs

Awach SCCOs IS LEADING Saving and credit Cooperative society that have morethan 160,000 thousnand members and provides various financial product to its members. the following present the success history of awach SaccoS. Their focus on community development has made Awach SACCOs a pivotal entity in savings and credit services for countless communities.

Who is the CEO OF Awach SACCOs?

The CEO of Awach SACCOs is Mr. Zerihun Sheleme, visionary founder and Chief Executive Officer, with 41 members, having in mind a long-term objective and mission of changing and encouraging a savings mobilization culture and loan provision within Awach SACCOs’ community, with a strong commitment and belongingness. Based on this, the legal personality first received from Arada sub-city on March 22/2007 G.C. and re-registered by the Federal Cooperative Agency in 2017 G.C by the Federal Cooperative Agency (FCA) with registration number 005/09 to work all over Ethiopia.

Regarding the success of Awach Sacco has members of more than forty thousand (41,117), which reflects its impact. Overall, Awach Sacco disbursed a loan that amounts to over 20.3billion Ethiopian birr to its members. The monitoring and evaluation of loans disbursed indicates that more than 99% of credit users have utilized their loans to open their own shops, construct houses used for renting, and own business cars, and most members are able to participate in different business activities to increase their income.

Is Awach microfinance a reputable company?

Yes, Awach SACCOS is a reputable SACCO that provides loan and savings services for its members. It is a countrywide organization that operates across the nation. Their strong presence showcases the reliability of Awach SACCOs in various aspects.

What is the call center of Awach Micro Finance?

Awach SACCOs provides a free call center 6326 call center where members can request any information regarding SACCOs’ services, requirements for membership to provide efficient and quick information services to its members. For any assistance on Awach SACCOs matters, this call center is crucial for befriending clients with the institution.

What are the requirements to be a member of Awach SACCO?

Awach SACCO is the leading savings and credit association in Ethiopia, showing remarkable growth for the previous year with an amazing profit in the sector. To be a member, Awach listed the requirements that can be fulfilled by any person as follows. A person who age 18 and above, pay non-refundable registration fee 5000 (Five thousand Ethiopian birr) with a regular savings 1000 ETB and a minimum share to be bought by the new member is a minimum share amount (ETB 10,000), A person who accepts and abides by the Awach SACCO’s bylaws, goals, objectives, and rules. In addition to the requirements like a kebele identification card, driving license or passport, two passport-size photographs are required during the membership process.

Any person should pay ETB 5000 in one payment as a registration fee when joining Awach SACCOs.

How to get a loan from SACCO?

After successful registration of membership, the members should abide by the rules and regulations of Awach Sacco. Members should fulfill the conditions to access a loan from them. In order to get loan services from Awach SACCOs, the member should save 1/4th of the requested loan amount within six consecutive months.

Requirements to get a loan

• The member should save 25% of the requested loan amount. For instance, if a person needs 2,000,000, they have to deposit/save 500,000 for six consecutive months. Whereas if the member needs a car loan, he should have to save 40% of the requested loan amount. For instance, if he wants a 3,500,000 car loan amount, he should have to save 875,000 Ethiopian birr.

What are the interest rates at Awach microfinance?

Awach SACCOs applies almost the same interest rates to its members; however, they vary based on the loan amount and loan tenure. The following are the interest rates provided by Awach SACCOs. Members enjoy competitive rates at Awach SACCOs, making it beneficial for savings and loans.

Loan type with tenure and interest Rate

Additional requirements for the loan

• He/she should bring a renewed Kebele ID and 1 photograph.
• Legal certification for a member is married; he or she must bring in person his or her marriage partner if the member is single.
• For traders:
• trade license.
• TIN registration.
• Tax clearance with bank statement.
• Cash flow statement for one year.
• If the member is an employee, he or she must bring a letter from his or her organization about his or her salary status or income statement.
• Should bring collateral that fits the amount of the loan.
• Should bring one member from the cooperative as a co-signer.
• Should be willing to pay a 1% service charge and 1% micro life insurance.

Awach Branch list|

Offices Branch of Awach SACCOs

Awach SACCOs

Head Office
Aware around Edna Addis Hotel at Agar Building
P.O. Box 34752, Addis Ababa, Ethiopia
+251-115-57-73-41, 6326

Main Office
Mexico Hibret Bank Main Office (Hibir Tower)
+251-111-26-05-06

How many branches of Awach Micro Finance are there?

Awach micro finance Branch list

Awach Saccos have more than 30 branches across the country that process saving and loan processes for its members. Anybody can check their Awach Sacco branch list for locations nearby. Each branch of Awach SACCOs plays a vital role in serving its members efficiently, enhancing their savings behaviors.