LineOne Music SACCO
A member-owned financial cooperative built specifically for the music community. Save smarter, borrow easier, grow together.
What is a SACCO?
Understanding cooperative finance
A SACCO (Savings and Credit Cooperative Organization) is a member-owned financial institution where members pool their savings together. Unlike banks that serve shareholders, SACCOs exist to serve their members.
Member-Owned
You're not a customer, you're an owner with voting rights
Profit Sharing
Members share in annual dividends based on participation
Community First
Built by and for musicians who understand your needs
Affordable Loans
Borrow at rates lower than commercial banks
How It Works
Three simple steps to financial empowerment
Join the SACCO
Create your TesoTunes account and apply for SACCO membership. Purchase minimum shares to become a member-owner.
- check_circle Membership fee: UGX 5,000
- check_circle Min shares: 2 × UGX 10,000
Save & Earn Interest
Make regular deposits to your savings account. Your money earns competitive interest, growing passively over time.
- check_circle 6% annual interest rate
- check_circle Mobile Money deposits
Access Affordable Loans
Need funds for equipment, production, or emergencies? Borrow based on your savings at rates far below banks.
- check_circle Borrow up to 3× your savings
- check_circle 12% annual interest
TesoTunes + SACCO Integration
Your music earnings can work harder for you
Streaming Revenue
Every play on TesoTunes earns you money. Artists can set up automatic transfers of streaming revenue directly into SACCO savings.
Esokoni Store Sales
Selling merchandise through your Eduka store? Profits can automatically flow into your SACCO account.
Ojokotau Donations
Fan donations from Ojokotau can be channeled into savings, building your financial safety net from supporter generosity.
Awards & Prizes
Cash prizes from TesoTunes Awards can be deposited to SACCO, growing your funds for future projects.
Member Benefits
Everything you gain by joining LineOne Music SACCO
Low Interest Loans
Borrow at 12% p.a. - significantly lower than commercial banks charging 20-25%.
Competitive Savings Interest
Earn 6% annually on savings - better than most bank accounts offering 2-3%.
Annual Dividends
Share in SACCO profits annually based on your shares and participation.
Mobile Money Integration
Deposit and withdraw using MTN MoMo or Airtel Money - no bank visits needed.
Flexible Repayment
Choose repayment schedules that match your income flow - monthly, bi-weekly, or custom.
Financial Education
Access resources, workshops, and guides on financial planning for musicians.
Membership Requirements
What you need to join
Total to get started:
UGX 25,000 (Membership fee + Minimum shares)
Loan Products
Financing options for every need
Emergency Loan
Quick access for urgent needs. Disbursed within 24 hours.
Up to 1× savings
Equipment Loan
For studio gear, instruments, and production equipment.
Up to 3× savings
Production Loan
Finance your album, music video, or tour production costs.
Up to 3× savings
Frequently Asked Questions
Everything you need to know
The total initial investment is UGX 25,000. This includes the membership fee (UGX 5,000) and minimum 2 shares at UGX 10,000 each. You can purchase additional shares anytime to increase your borrowing capacity.
Most applications are reviewed within 24 hours. Verified TesoTunes artists may be auto-approved instantly. You'll receive both email and SMS notifications once approved.
You can borrow up to 3 times your total savings balance. The actual limit depends on your credit score and repayment history. New members typically start with 1× savings and can increase with good standing.
Yes, you can request withdrawals from your savings account anytime, subject to maintaining the minimum balance (UGX 10,000) and daily withdrawal limits. If you have an active loan, your savings serve as collateral until repaid.
We support MTN Mobile Money, Airtel Money, and bank transfers. All deposits and withdrawals can be processed directly from your phone - no need to visit any office.
No! While LineOne Music SACCO is designed with the music community in mind, all TesoTunes users are welcome to join - including fans, listeners, and music industry professionals. Everyone benefits from our community-focused approach.
Your funds are held in secure, audited accounts. As a cooperative, we maintain reserve requirements and publish annual financial reports to all members. The SACCO is managed by elected member representatives, ensuring transparency and accountability.
Yes! Verified artists can set up automatic transfers from their streaming revenue, Esokoni store sales, and Ojokotau donations directly into their SACCO savings account. This is one of the unique benefits of our TesoTunes integration.
Ready to Start Your Financial Journey?
Join thousands of musicians and music lovers building wealth together. Your future self will thank you.
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