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FAQs

by UASV

FAQ’s

United African Stokvel is a pro-African Empowerment Company, calling to action for all of us to understand the power of saving money and being rewarded for doing so. In these difficult times, trying to save money alone is very hard. But by joining our savings stokvel, you are encouraged to save by seeing the benefits United African Stokvel provides to yourself and others in our community. We are constantly updating our website (www.uasv.co.za). All members contribute monthly by signing up to a debit order, EFT or cash deposit.  The Savings cycle runs for 6 or 12 months, at the start of month 7 or 13 all savings and rewards are paid directly to the member.

United African Stokvel has a constitution for the members which covers most of the framework within which we operate, click here to read the constitution.

There are Contractual Agreements with all parties involved at each stage of the process, from you signing up to United African Stokvel, to United African Stokvel purchasing assets, to the repayment of your savings.

Yes, any member can repeat their savings cycle. Members may have more than one saving option with United African Stokvel. Members may add a maximum of one new saving option per month.

United African Stokvel is always looking to increase the number of our members. If one of our members introduces United African Stokvel to a successful new member, there is a commission paid to the referring member based on which option the new member chooses.

United African Stokvel is a voluntary group of members who want to share the experience of saving money and being rewarded for doing so.  United African Stokvel does not believe in punishing its members for joining our Stokvel, by forcing them to pay a joining fee. This is mandated in United African Stokvels Constitution and will never be changed.

United African Stokvel is the owner of the Nedbank Trust Account and Nedbank Cheque Account. All Savings are deposited into the Trust Account. United African Stokvel can only action or have access to the bank account according to the mandate of the United African Stokvel and the instructions given on its platform. Please note, that any monies paid out of United African Stokvels Trust Account have to be authorized by the Director, Treasurer and Secretary together.

Yes, the financial state of United African Stokvel will be available to you as a member on our website (www.uasv.co.za). For ease of understanding, a Pie Graph will show you into which business modules, member savings are being invested. United African Stokvel’s website is constantly monitored and updated.

It is very important to our Director that United African Stokvel members are shown that not only is it good and fun to save money, being rewarded for doing so, but also to see what their membership with United African Stokvel is allowing the Stokvel to do to help our community.

United African Stokvel’s Director, is a seasoned businesswoman, who invests in the fields of mobile communication and property developments, in which she has extensive experience.

Our Director has a keen sense of community harmony and the need for all South Africans to benefit from the community in which they live.  

Projects undertaken will be constantly updated on our website (www.uasv.co.za).

Please visit our website and click on the contact us page. Fill in the required details and one of our Dedicated Consultants will call you.

If a member passes away, the laws that govern how a deceased estate is wound up will guide this process. Any monies owed by United African Stokvel will be transferred to the deceased estate in line with the law.

If a member stops the payment or can no longer afford the payment, their savings will only be paid after the 6 or 12 month saving cycle ends. A full recon of the account will be made available to the member.

The Savings agreement between a member and United African Stokvel is for a Lock-In period of 6 or 12 months.

If, for whatever reason, a member stops paying there is a sequence of events that United African Stokvel follows to engage with the member.

No member may claim any money before the saving cycle, with United African Stokvel, is over. The only exception is if the member passes away.

United African Stokvel will communicate each month to confirm receipt of saving deposit and every quarter with each member, via SMS, to update them on their savings and to encourage them to keep saving.

Communication and encouraging members to keep saving is a primary goal of United African Stokvel.

At the end of the 6 or 12 month saving cycle a recon of account will be sent to each member.

United African Stokvel accepts either debit order, EFT or cash deposits.

United African Stokvel is guided by the Protection of Personal Information Act (POPI), and does not disclose any personal information of our members.

We have successfully acquired a Virtual Office Service Agreement with Regus Management Group (Pty) Ltd. The Office is utilized at the following address: 
The Campus
Twickenham Building
Cnr Sloane and Main Road, Ground Floor
Bryanston

PO Box 71391
Bryanston
2021

You do not need to fill out any application forms. United African Stokvel is a digital Stokvel, all our member sign-ups are done telephonically, these calls are recorded for the member and United African Stokvel’s protection. Saving deposits are made by either debit order, EFT or cash deposits into United African Stokvel’s Trust Account held at Nedbank. All communication between the Stokvel and our members are through the following platforms: email, SMS, WhatsApp, Facebook, our website and our Call Centre.

940 723 1183

2015/440792/07

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