TO: SACCO MEMBERS

DATE: 8TH APRIL 2020

SUBJECT: GUARANTORSHIP THROUGH EMAIL NOTIFICATION

This is to acknowledge that the country is undergoing difficult condition due to covid-19 and that has made majority of people work from home. Members applying for loans are now finding it hard to have their loan application forms physically signed by their guarantors. The board is therefore recommending to members to guarantee each other through e-mails.

The loanees and the guarantors will be required to observe the following:

  • The guarantor must specify the amount he/she is guaranteeing both in figures and in words.
  • The guarantor must use the same e-mail address as held in the office when declaring his guarantorship to the loanee. The e-mail address must be the one the SACCO has been using to communicate to the member.
  • The guarantor must give his membership number and specify the type of loan he/she is guaranteeing.
  • The guarantor should send the guarantorship e-mail to the loanee BUT not directly to the SACCO.
  • The loanee must fill the details of guarantors in the guarantorship table without the guarantor’s signatures.
  • The loanee will forward the loan application form together with all the guarantorship e-mails as attachments.
  • The office will be reaching out to guarantors to verify the authenticity of the guarantorship.

Note: This is a temporary measure that will be used together with the current practice until further notice. Observe social distancing to avoid the spread of COVID-19. #StayAtHome #StaySafe

 

Yours Faithfully,

 Jorim Oyago

General Manager