Ziphakamise Savings and Credit Co-operative (SACCO) has been in existence since 1998 when the idea was conceptualised. The SACCO was launched in 1999 at Bell Equipment in Richards Bay, KwaZulu-Natal. At the time, the SACCO only served employees of Bell Equipment but the common bond has since been expanded to include the community of uMhlathuze. The initiative by Bell Equipment employees in establishing the SACCO was as a result of an agreement between the union and management for the benefit of Bell employees. The aim of establishing the SACCO was to assist employees to save, have easy access to loans and to receive advice on the wise use of their money.<br />Ziphakamise SACCO has continued to perform well and its reputation and good work has spread within the community of uMhlathuze attracting membership from employees of other organisations. In 2016, Ziphakamise SACCO was recognised by the Co-operative Banks Development Agency (CBDA) as the Best Performing CFI in South Africa during the CFI Indaba in Gauteng. The board and management of Ziphakamise are committed to continue to improve the performance of the SACCO until it is registered as a co-operative bank in order to fulfil the wishes of the members who agreed to apply for registration after meeting the registration requirements.

    Common Bond
    The common bond for membership of Ziphakamise is:
    Employees of Bell Equipment and all the people living and/or working in organizations within the boundary of the city of uMhlathuze
     

    Our Vision
    To be the best performing co-operative bank in KZN while empowering our members and community financially and socially
     

    Our Mission
    Our mission is to be a dynamic, self-sustaining, member owned financial co-operative operated on safe, sound co-operative and business principles, so as to empower all our members and provide them with the most affordable products and services that meet their needs.
     


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