Members admitted in accordance with the By–Laws and are making monthly remittances.

A member becomes eligible after a minimum membership period of four months and on fulfilling all requirements of a specific loan product. Members who transfer their deposits from another Sacco are exempted from the waiting period. However, loan advance can be taken within 1 month after registration provided that the amount can be secured using own funds.

A loan application must be done in writing on prescribed forms which must be fully filled. The applicant must attaché all relevant documents. Alteration will not be allowed.

Shares:

The amount representing a member’s portion in the equity of the society as a co-owner. No member other than a Cooperative Society shall hold more than one-fifth (1/5) of the total shares. Shares are not used to determine the eligibility of a borrower or a guarantor. Shares are not withdraw able but are transferable.

Deposits

Every active member must make regular deposits in accordance with Savings and loans policies. They are not withdrawn in part or in full as long as a person is an active member of the Sacco. These deposits may be used to determine the eligibility of a borrower or a guarantor.

Savings

In addition to shares and deposits a member may invest in a saving account. The Sacco provides the Junior Savings Account and Safari Savings Account.

The Sacco charges interest on declining balance at the applicable interest rate per month.

Yes, that is allowed. All that one needs to do is to instruct in writing

1. Guarantors
2. Deposits in the SACCO

Any active member in good standing is allowed to be a guarantor provided that one has not over guaranteed. A guarantor must be willing and able to repay the loan guaranteed if the loanee fails to pay

Guarantors are jointly (together) and severally (individually) liable for the repayment of a loan in the event of the borrower’s default that he has paid to the Sacco.

1. Loan amount
2. Repayment period
3. Applicants contact details
4. Any other details relating to the applicants character

1. EFT(Electronic Funds Transfer)
2. RTGS(Real Time Gross Settlement)
3. Cheque

Yes, that is allowed and does not attract early clearance charge only the relevant interest charge for the month applies

A nominee is the person designated by a member to receive the proceeds of any payable funds upon the death of the member.

All members are required to provide details of nominee(s) upon registering as members.

One can change and/or update his/her nominee information as when and need arises

On loanees request the repayment period may be altered at any stage of repaying the loan provided that the request is within the limits of a particular loan term.

The Sacco offers several loan products. For details of the loans kindly refer to the Loans Policy