IS FSC - Bank With A Bank That You Own
Isikhungo Sabantu Financial Services Cooperative (IS FSC) is a cooperative financial institution (CFI) governed and owned by its members. A cooperative bank works the same way as a commercial bank does, however instead of paying bank fees and high interest on loans, you make a part of the profits that the bank makes of those as all members own a share in the cooperative bank.
We are built for wealth and we are making it accessible.
Isikhungo Sabantu Financial Services Cooperative (ISFSC) originated from the NGO Isikhungo Sabantu NPC.
Isikhungo Sabantu is a Non-profit Company, aimed at eradicating poverty in South Africa through the development and mentorship of young people and women to becoming competent entrepreneurs. Most of the members come from Gauteng, the Eastern Cape, and Kwa-Zulu Natal.
The Members of Isikhungo Sabantu NPC will be able to buy shares in Isikhungo Sabantu Financial Services Cooperative (ISFSC) the cooperative financial institution (CFI). IS FSC members will be able to save monthly, invest in financial products, take insurances with the CFI and take affordable loans to start their own projects or get help in difficult time.
IS FSC head offices are located in Rivonia, Johannesburg, and hold a satellite office in Cala, Eastern Cape. It serves all its shareholders countrywide using the website, social media, and call center.
Isikhungo Sabantu FSC will offer products and services that will cater to the needs of the members. Shareholders/members have a say in the creation of products and operations of the bank. All products that are currently available to the members were proposed and created by the share holders of the cooperative bank. These include loan products, savings, insurance product and investments products.
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Loans & Rent-to-Own
What is a common bond?
In a financial institution such as a credit union or co-operative bank, a common bond is the social connection among members that serves as collateral
Why saving or getting loans from a Cooperative Financial Institution (CFI) is advantageous?
There are many benefits to saving and taking out loans from cooperative financial institutions like Isikhungo Sabantu FSC. Firstly, they offer very competitive interest rates
What is a Cooperative Financial Institution (CFI)?
What is a Cooperative Financial Institution (CFI)? A cooperative financial institution (CFI) is a type of financial institution it is the umbrella term for deposit
What is a Cooperative?
What is a Cooperative? A cooperative, or co-op, is a business or organization owned and operated by a group of people for their mutual benefit.