Frequently Asked Questions

To become a member, you need to: (1) Complete a membership application form, (2) Pay the membership fee (UGX 20,000), (3) Make an initial share investment (starting from UGX 100,000 for Young Saver to UGX 500,000 for Adult/Joint/Group accounts), (4) Start your monthly savings commitment. Visit our office or contact us for more details and to start your membership journey.

Membership Fee: UGX 20,000 (one-time). Initial Share Investment: Depends on account type (Young Saver: 100K, Student: 200K, Adult/Joint/Group: 500K). Monthly Savings Commitment: 10K-50K depending on account type. You can increase your investment and savings anytime.

Most members maintain one personal account. However, special arrangements can be made for different purposes (e.g., personal and group/business). Contact our Member Relations Officer to discuss your specific needs.

Yes! Our Young Saver Account is specifically designed for children (opened by parents/guardians). It has lower investment and savings requirements: UGX 100,000 investment and UGX 10,000 monthly savings. This helps inculcate savings discipline from an early age.

While we encourage consistent monthly savings, life happens. If you miss a payment, please contact us immediately to discuss your situation. We work with members to find solutions and keep their accounts in good standing. Regular defaulting may affect your loan eligibility.

Regular Savings is your main account where monthly contributions go and where loan funds are disbursed. It's your primary gateway for all FIC finances. Other products (Time Deposit, Target Savings, Investment Units) are specialized accounts with different terms, returns, and purposes. You can maintain multiple savings products simultaneously.

FIC offers returns through: (1) Loan Guarantee Savings with guaranteed returns, (2) Time Deposits with fixed interest rates (3-12 months), (3) Interest on Capital (mandatory for all, receives annual capital returns), (4) Investment Units with guaranteed income distribution. Contact us for current interest rates and returns.

Regular Savings: Withdraw anytime (subject to minimum balance requirements). Time Deposits: Only at maturity. Target Savings: 90-day cycle with penalties for early withdrawal. Investment Units: Non-withdrawable. Loan Guarantee Savings: Generally hold until loan is repaid. Specific terms are in your account agreement.

Investment Units (IU) are non-withdrawable shares in FIC's investment pool that grow your wealth long-term. They guarantee annual returns and appreciate over time. You can build IUs through the "Save for Investment Units" product (annual conversion by Dec 31) or direct investment. Dividends are paid annually, reinvested to grow your IU holdings.

FIC is a registered cooperative with UGX 23 Billion+ in net assets as of Dec 2019. We maintain strict financial controls, reserve funds, and undergo regular audits. Member deposits are protected through our cooperative structure and regulatory oversight. Your savings are safe with FIC.

FIC offers 11 loan products: Business Loan, Salary Loan, Housing/Home Development, Asset Acquisition, Contract Financing, Trade Financing, Solar Loan, Agricultural Loan, Weekend Loan, Emergency Loan, School Fees Loan, and Home Finishing Loan. Each has different terms, rates, and eligibility requirements. Visit our loans page for detailed information.

Loan amounts vary by product: Business loans typically up to 3x your total savings and Investment Units. Salary loans up to 5x for employed members. Maximum amounts also depend on your savings history, repayment capacity, and collateral. Contact our Credit Officers for personalized loan calculations.

Interest rates vary by loan product and term. Standard loans have competitive rates (usually 2% processing fee + interest). Weekend loans are 2.5% flat monthly. Emergency loans are at double the normal rate due to urgency. Current rates are available from our Credit Officers. Rates are significantly lower than commercial banks!

Salary loans: 2-3 days (quick approval). Standard loans: 5-7 business days (with proper documentation). Our streamlined process is much faster than banks. Weekend/Emergency loans are prioritized for quick approval. Approval depends on completeness of your application and our verification process.

Contact our Credit Officer immediately if you anticipate difficulties. We work with members to reschedule payments or discuss solutions. However, late payments will incur penalties and may affect your credit standing with FIC. Grace periods are built into some loans (e.g., Agricultural has 6-month grace). Communication is key!

Yes! Business Loans, Trade Financing, Contract Financing, Agricultural, and Solar loans are perfect for self-employed members and entrepreneurs. You'll need to provide evidence of income (tax returns, business registration, bank statements). Loan approval depends on your business stability and our assessment of repayment capacity.

Franciscan Villages are FIC's planned residential communities developed for member investment and wealth building. We have 13+ estates strategically located around Kampala (Bethel I & II, Seeta, Busukuma, Buloba, Nabutiti, Konna, Namulaba, Kasengejje, Kiwenda, etc.). Each estate includes complete infrastructure: water, electricity, security, and access roads. Total portfolio is worth UGX 23 Billion+.

You can purchase plots in Franciscan Villages estates by (1) paying through your FIC account directly, (2) taking an Asset Acquisition or Home Development Loan, or (3) using your saved Investment Units. Available projects include Bethel II, Konna, Namulaba, Kasengejje, and Kiwenda. Contact our office or visit our investment page for current prices and availability.

Yes! FIC offers: Asset Acquisition Loans (you deposit 25%, FIC acquires the property), Home Development Loans (up to 48 months), and flexible payment plans. You can also use your Investment Units or savings. Our rates are significantly better than commercial mortgages. Speak with our Credit Officers for personalized options.

Investment Units provide guaranteed annual returns and capital appreciation through FIC's growing asset base (now UGX 23B+). Specific dividend rates vary based on FIC's annual financial performance. All dividends are reinvested to grow your IU holdings. This is a long-term wealth-building strategy, not short-term trading.