SHARE CAPITAL SAVINGS

Sum of Money invested/paid into the company by shareholders/owners as equity which forms part of the sacco's core capital, represents each member's ownership of the Sacco and earns the shareholders dividends at the end of every financial year(subject to ratification and financial performance).

FEATURES

• Forms part of the core capital of the Sacco & represents members' equity and ownership of the Sacco
• This is a mandatory account for all members.
• Earns Dividends (Based on Annual Financial Performance), the higher the share capital; the more the Dividends.
• Each share is sold at par value of Ksh 20
• Minimum shares for all members is 1000 amounting to Ksh 20,000 which can be paid one-off on registration or in 36 monthly instalments
• Minimum monthly contribution is Ksh 500
• Can be paid via the digital banking, check-off arrangement or through bank standing order
• Form part of the requirement to elective posts.
• Shares are Non-refundable but Transferrable through selling
• Share transfer fee is Ksh. 500.

DEPOSIT SAVINGS

These are the monthly regular contributions made by a member against which they take loans, guarantee loans and earn interest/rebate at the end of the year.

FEATURES

• Forms part of the member's refundable savings
• This is a mandatory account for all members.
• Savings that are subjected to multiplier to give a member a loan
• Earns Interest (Based off of the Annual Financial Performance)
• Can guarantee loans, only available balance is used.
• Non-withdrawable but refundable upon membership termination BOSA savings.
• Form part of the requirement to elective posts in the Sacco
• Can be paid via the digital banking, check-off arrangement or through bank standing order
• Minimum monthly contribution is Ksh 1,000.
• Account closing fee is Kshs. 500

HOLIDAY SAVINGS

This is a special account that allows members of our Sacco to plan and organise how they meet their other financial needs such as planning for a vacation/holiday, meeting financial emergencies, goals savings, investment plans because it allows them to access the funds priodically as it earns a guaranteed interest of 5% per annum.

FEATURES

• This is also goal savings account for a member
• Account opening is voluntary at a non-refundable fee of Ksh. 210
• Minimum Book balance is Ksh.500/-(withdrawn when closing the account).
• Minimum monthly Contribution is Ksh.210/-.
• Attracts an interest rate of 5% annually. The minimum balance to qualify for interest is Ksh: 2500.
• No withdrawal will be allowed before the saver contributes for a minimum period of 3 months.
• Can be paid via the digital banking, check-off arrangement or through bank standing order
• The account attracts no monthly charges or account maintenance fees.
• Allows periodic 3-month instant withdrawal to M-PESA

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CHILDREN SAVINGS

This is an account that helps a member to plan for their child’s future financial needs such educational needs, health needs as well as financial future where a member could transition the account to the child upon reaching majority age.

FEATURES

• Account opening for a child is voluntary at a non-refundable fee of Ksh. 210
• The account name is the child’s name, while the parent has the sole mandate to operate it.
• Minimum monthly Contribution is Ksh.310/-.
• Attracts an interest rate of 5% annually. The minimum balance to qualify for interest is Ksh: 5000.
• Withdrawal from the account is permitted after every four months provided a balance of Ksh.500 is maintained.
• Withdrawal before four months may be permitted at a charge of Ksh.200 per withdrawal.
• The account attracts no monthly charges or account maintenance fees.
• Can be paid via the digital banking, check-off arrangement or through bank standing order
• Account closing fee is Kshs. 400

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WELFARE SERVICES

BENEVOLENT FUND ACCOUNT

Beyond financial services, we are looking out for our members' welfare upon demise of their loved ones through the Benevolent Fund.

FEATURES

• Membership to the scheme is currently voluntary and open to all SACCO MEMBERS AND STAFF
• A non-refundable registration fee of Kshs 300 is payable during registration.
• Monthly premiums of Kshs 100 per month.
• Lump sum contributions to the scheme are highly recommended
• Every member shall qualify for the welfare benefits after 6 months of consistent premiums.

BENEFITS

The following benefits shall be payable to the nominated beneficiary immediately on death notification and upon presentation of all the necessary documents:

Beneficiary	Benefit Amount
Principal Member/Spouse	Ksh. 30,000.00
Children	Ksh. 15,000.00
Parents	Ksh. 15,000.00

• Only one spouse will be covered
• One Claim per death
• Cover is forfeited when premiums are not remitted for 6 Months or more and or when a false claim is lodged and detected

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GROUP AND CHAMAs SAVINGS

This is an account that helps a member to plan for their child’s future financial needs such educational needs, health needs as well as financial future where a member could transition the account to the child upon reaching majority age.

Registered and well managed groups and chamas can join the Sacco, open savings accounts that allow them to enjoy and patronise our services.

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