Is Lighthouse SACCO the same as Lighthouse Trust?

No. Lighthouse SACCO (Lighthouse Savings and Credit Cooperative Society Limited, Reg. No. 1758) is a separate, registered financial cooperative. We are not affiliated with Lighthouse Trust, the HIV health services organization, although our mailing address is hosted at their Kamuzu Central Hospital campus in Lilongwe.

What is a SACCO?

A Savings and Credit Cooperative Society (SACCO) is a member-owned financial cooperative. Members save together and borrow from the combined pool of savings, with any profits shared back to members as dividends rather than paid out to outside shareholders.

How do I become a member of Lighthouse SACCO?

You can join by completing our online membership registration form, paying a one-time entry fee of MWK 4,000, and buying your initial shares. New members have a 3-month probation period, meaning you can access a loan only after contributing shares for at least three months.

Can my organization join Lighthouse SACCO?

Yes. Membership is open to organizations as well as individuals. Organizational transactions are payroll-based and require signing an MOU to facilitate contribution collection and loan servicing.

What is the minimum amount to open a savings account?

Ordinary/Regular Deposit accounts can be opened with as little as MWK 1,000. Share Capital requires a minimum of MWK 10,000, and Fixed Deposits require a minimum of MWK 10,000.

What loan products does Lighthouse SACCO offer?

We offer nine loan products: Investment, Kufewa, Emergency, Pay-Day, Fertilizer, Material, Pompo-Pompo, Wooza-Friday, and Education loans, each with different rates and repayment terms depending on your needs.

How do I apply for a loan?

You can use our online Loan Calculator to estimate repayments, then submit your application through our Online Loan Application page. As an existing member in good standing, your application will be reviewed based on your ability to repay.

Does Lighthouse SACCO offer a loan for school fees?

Yes. Our Education Loan covers school fees up to a maximum of MWK 600,000, repayable over a maximum of 6 months, at 5.5% per month. Funds are paid directly to your child's school.

How is my loan eligibility determined?

We assess loan eligibility primarily based on your affordability, meaning your ability to comfortably repay the loan alongside your other financial commitments.

How long does loan approval take?

Short-term loans are approved within 24 hours. Long-term loans take a maximum of 72 hours to be approved.

What interest do I earn on my savings?

Ordinary/Regular Deposits earn 2% per annum. Fixed Deposits earn 40% per annum over a 12-month term. Share Capital earns an annual dividend based on the SACCO's profit performance for that year.

Where is Lighthouse SACCO located?

Our offices are located at Kamuzu Central Hospital, Lilongwe, Malawi (C/O Lighthouse Trust, P.O Box 106).

How can I contact Lighthouse SACCO?

You can reach us through our Contact page, or by email at info@lighthousesacco.mw.