The Care Cooperative Savings & Credit Society Ltd

Providing affordable and flexible finance to enhance members standard of living

Plot 9696, Chadleigh Great East Rd Off Munali Road, P. O. Box 37948, Lusaka 10101. Tel: +260 211 292995
    
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25th July 2017

Dear Esteemed Members,

RE: INTRODUCTION OF NEW PRODUCTS AND REVISION OF OLD LOAN PRODUCTS TERMS AND CONDITIONS

I am pleased to inform you, our esteemed members that, CareCoop in its quest to improve the range of products available for its members, has introduced two new products namely; the Family Holiday Loan and the Home Improvement Loan. These products have been carefully designed and customized to create a fit between members ‘needs and convenience.

Dear Member

Once again, it’s that time of the year when Care Coop presents to you the Family Fun Day Event with the Grand Raffle Draw on 4th November 2017. This time, it’s bigger and better with exciting prizes such as a Toyota Allion Motor Vehicle, 100 bags of cement, Television set, Stove, Freezer Water Tank and many more great prizes.

PROSPECTUS

Offer of Shares to Care Cooperative Members

MAY 1, 2017

CARE COOPERATIVE SAVINGS AND CREDIT SOCIETY LTD

Care Cooperative Savings and Credit Society Ltd (Incorporated in the Republic of Zambia under the Society Act of 1998) is offering up to 62,000 shares to its members

Price ZMW481.65 per Share

Subscription period I May 2017 – 31 October 2017

Message from the Chairlady Dr Chilunga Puta

Dr Chilunga Puta

It has been my privilege and honor to chair the CareCoop Board post the 2015 annual general meeting held in May 2015 at Cresta Hotel. What an exciting journey it has been!

In spite of the national economic challenges that have resulted in the devaluation of the Kwacha, the negative impact of which we have all felt, CareCoop continues to strive to explore mechanisms to maximize benefits for our members and can boast of profitability even in this harsh economic climate. We at CareCoop prioritize the well-being of our membership and have continued to seek ways in which we can add value to their investments in CareCoop. For this reason, in addition to our regular activities, we have sought ways to diversify our fund raising strategies and to this end have put a committee of experts in place specifically to analyze the options open to us. Consequently CareCoop is looking to diversifying into subsidiary holdings and exploring both short and long-term investments.

It is my vision that CareCoop members should have access to affordable housing financing so that as our members approach retirement they will be at ease knowing that they have their own homes. A key obstacle is the high cost.

Our members will be pleased to note that we were awarded best SACCO of the year at the International Credit Union’s day (ICUD) held on 15th October 2015.

As we look forward I am convinced that CareCoop has a bright future and with this current innovative team we will be able to make CareCoop a force to reckon with and maximize both investor and shareholder value.

 

CARE COOPERATIVE SAVINGS AND CREDIT SOCIETY LIMITED BOARD MEMBERS FOR 2017

 

Name

Position

Organizations

Dr. Chilunga Puta Chairperson PATH
Chifundo Phiri Vice Chairperson CIDRZ
Abraham Alutuli Treasurer General Member
Gwati Chitalima Vice Treasurer IPAS
Fidelity Milambo Secretary CRS
Diana Chinokoro Vice Secretary General Member
Rose Lungu Loans Committee Chairperson Plan International
Lane-Lee Lyabola Loans Committee Member CIDRZ
Mary Banda Loans Committee Member CIDRZ
Kudakwahe Mucheka Supervisory- Chairperson CIDRZ
Chimuka Muyuni Supervisory EGPF
Kelly Siame Supervisory Irish Embassy

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