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  1. A member must complete FOUR (4) months before applying for any loan. Members transferred are treated as old members for purposes of loaning (date he/she joined the old society).
  2. Loans granted to members shall be deducted from their salaries, debited from their bank accounts or from standing order remittances including the applicable interest rate per month on a reducing balances method.
  3. Except for Emergency and Instant loan all the other loans granted are subjected to three times the Deposits Contribution. An interdicted member /Retirees who continue with membership are eligible for a loan but such loan shall not exceed his/her shares.
  4. A loan must be guaranteed by three or more members, whose shares plus those of the loanee shall equal the loan applied for. Non-citizens be guaranteed by citizens for loans
  5. A loan applied within one’s Deposits shall not need a guarantor, provided that such members has not Guaranteed any member.
  6. The first loan must be cleared in full before applying a second loan of the same type.
  7. School fees loan must be supported by a school fees structure for that particular year.
  8. Emergency loans shall be granted on production of acceptable documentary evidence and paid within 12 months.
  9. A member should not belong to more than one SACCO SOCIETY at the same time.
  10. A member withdrawing shall give 60 days’ notice, clear outstanding loans and provide alternative guarantors if need be.
  11. No member shall be allowed to withdraw part of share neither offset them against the loan unless one ceases to be a member.
  12. Members shall have one loan of each category i.e. school fees, emergency and development.
  13. No member will be allowed to suffer total deduction including loan repayment in excess of 2/3 of his Consolidated Salary.
  14. Loans application will be considered in the order in which they are received; (FIFO Method). But preference to:
    1. Small loans and shorter periods
    2. Members who have never had loans
    3. New members who have qualified for loans.
    4. Other members who qualify for considerations and have outstanding loans