About LineOne Music SACCO
A community-driven financial cooperative designed specifically for musicians and music lovers.
What is a SACCO?
A SACCO (Savings and Credit Cooperative Organization) is a member-owned financial cooperative that provides affordable financial services to its members. Unlike traditional banks, SACCOs are owned and controlled by their members, who democratically make decisions about the organization.
LineOne Music SACCO is specifically designed for the music community in Uganda and East Africa, providing financial services tailored to the unique needs of artists, producers, and music industry professionals.
How It Works
1. Join the SACCO
Complete a simple application form and purchase minimum shares to become a member.
2. Save & Earn
Make regular deposits to your savings account and earn competitive interest rates.
3. Access Loans
Apply for affordable loans based on your savings, up to 3x your savings balance.
Member Benefits
Low Interest Loans
Access loans at 12% annual interest - significantly lower than commercial banks.
Competitive Interest Rates
Earn up to 6% annual interest on your savings accounts.
Annual Dividends
Share in SACCO profits through annual dividend distributions.
Mobile Money Integration
Deposit and withdraw using MTN Mobile Money and Airtel Money.
Flexible Repayment
Choose repayment terms that work for your income schedule.
Financial Education
Access resources and training on financial management and planning.
Membership Requirements
Be at least 18 years old
Have a valid National ID
Purchase minimum 1 share(s)
Have a valid phone number for Mobile Money transactions
Agree to SACCO terms and conditions
Frequently Asked Questions
How much do I need to join?
The minimum initial investment is 1 share(s). Additional shares can be purchased at any time to increase your borrowing capacity.
How long does approval take?
Most applications are reviewed within 24 hours. You'll receive an email and SMS notification once your application is approved.
How much can I borrow?
You can borrow up to 3 times your total savings balance, depending on your credit score and repayment history.
Can I withdraw my savings anytime?
Yes, you can request withdrawals from your savings account at any time, subject to maintaining the minimum balance and daily withdrawal limits.
What payment methods are supported?
We support MTN Mobile Money, Airtel Money, bank transfers, and cash deposits at our offices.
Ready to Join?
Start your journey towards financial freedom today.