SAVING SCHEMES

Share Capital
The par value of a share is Kshs. 20/= for 500 shares. This amount is not withdrawable but can be transferred to another member upon cessation of membership. Shares earn dividends depending on the surplus reported within the year. The minimum shares balance is Kshs. 10,000/=.

 

Deposits
Deposits earn interest depending on the surplus reported within the year. Loan granting is based on a member's deposits among other requirements like eligibility to pay. Deposits withdrawal is only allowed when a member is withdrawing membership. The minimum mandatory deposit contribution is based on the aggregate sum of all long term loan balances (Normal, Normal Plus, Super, Super Plus, Ujenzi, Boresha and Collateral loans).

 

Investment Fund Scheme
An innovation to afford members with close space drawable savings and invest  in money market balanced funds of  Unit Trust of bonds, bills e.t.c that generate higher returns at low risk. Savings are withdrawable. Members must contribute a minimum of Kshs.1,500 p.m. for a period of 6 continuous months.

 

Benevolent Fund Scheme
A buffer fund where members make monthly contributions to meet expenses upon bereavement of an immediate family member as declared by the member in advance.  The contribution is Kshs. 300/= p.m.

 

Ekeza Fund Scheme
This product is to enable members have withdrawable savings with the SACCO and in return earn interest based on the period the savings are held by the SACCO. The returns on the funds shall be applied as follows: 

PERIOD ( DAYS)

RETURN (PER ANNUM)

60

4%

90

5%

120

6%

180

8%

Over 180

9%

 

 

 

 

 

 

 

 

Other terms and conditions;

 1)     This is a voluntary savings scheme

 2)     Members are allowed to withdraw part / full of their savings

 3)     The minimum withdrawable amount is Kes. 10,000

 4)     The minimum savings amount is Kes. 12,000

 5)     Funds will be refunded within seven working days on receipt of withdrawal notice

 6)     This amount can be used as a security for loan(s)

 7)     A member will not earn interest if he/she withdraws before the maturity date.