1. Managing member accounts: This involves processing deposits, withdrawals, loan disbursements, and other financial transactions for members.
2. Providing financial education: Educating members on personal financial management, savings, and investment options to help them make informed decisions about their money.
3. Loan processing: Reviewing loan applications, assessing applicants' creditworthiness, and approving or denying loan requests.
4. Monitoring loan repayments: Tracking loan repayment schedules, following up with delinquent borrowers, and taking necessary actions to recover overdue payments.
5. Investment management: Identifying investment opportunities, managing the sacco's investment portfolio, and maximizing returns on investments for the benefit of members.
6. Risk management: Identifying and mitigating risks that could affect the sacco's financial stability, such as credit risk, interest rate risk, and operational risk.
7. Member services: Providing excellent customer service to members, addressing their inquiries and concerns, and ensuring their satisfaction with the sacco's products and services.
8. Compliance with regulations: Ensuring that the sacco adheres to all regulatory requirements and reporting obligations set by regulatory authorities.
9. Strategic planning: Developing and implementing strategic plans to achieve the sacco's goals and objectives, such as increasing membership, growing assets, and expanding services to meet members' needs.
10. Collaboration with stakeholders: Building relationships with key stakeholders, such as government agencies, regulatory bodies, and other financial institutions, to promote the sacco's interests and foster collaboration for mutual benefit.
Tasks within Umwalimu sacco
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