PRODUCTS AND SERVICES
1. Development loan
2. Emergency loan
3. My ticket plan
4. Child education plan
5.Family insurance under prudential
6. Corporate Investment & Savings
MEMBERSHIP & ELIGIBILTY
Eligibility for membership is based on the following qualifications:
- a. Is within the field or area of membership consisting of the all government ministries, parastatal and corporations
- b. Has attained the age of 18 years.
- c. Is of good character and sound mind.
- d. Pays the entrance fee and share capital as prescribed in these by-laws.
- e. A nominee may be admitted to membership of the Sacco society if qualified
Applicants for membership under (e) shall only be admitted into the Society subject to terms and conditions set by the committee and approved by the General Meeting either specifically or generally. All applicants must fill a Sacco membership form with an entrance (application) fee of 100RMB. The minimum savings contribution is 550RMB per month.
GENERAL QUALIFICATIONS FOR ANY LOAN
- 1. Fully completed loan application form.
- 2. The applicant must have been an active Sacco member for not less than six months.
- 3. A member qualifies for a loan within their deposits without security provided they have not guaranteed any other loan
- 4. All loans must be fully secured by guarantors, who have been members of the Sacco for at least six (6) months or any other security approved by loans committee.
- 5. The total deposits of the borrower and those of the guarantors must be equal to or more than the loan applied for.
- 6. Guarantor’s loans and deposits must be up to date
NB: All loans are issued at a rate of
7.5% and 2% for an emergency loan per
month on a reducing balance.
VISION
To provide a life of ease, comfort and
a well defined road map to financial
freedom
MISSION
To faciliate savings and affordable credit in an ethical, effective, efficient and transparent manner in order to promote members' welfare, thereby enabling them to manager their finance for mutual benefits and development.
OBJECTIVES
- a) To promote thrift among its members by affording them an opportunity for accumulating their savings and deposits and providing them with credit exclusively for provident and productive purposes, at fair and reasonable rate of interest; thereby enabling them to use and control their money for their mutual benefit.
- b) To ensure personal growth through the introduction of new products and services that will promote the economic base of the members.
- c) To ensure progress of members and Sacco society through continuous education programs on savings and proper use of credit, reduction of poverty, human dignity and co-operation.
- d) To promote investments of it’s members and provide different investment opportunities to them.
CORE VALUES
These guide actions at all levels and the society endeavors to put them into practice whilst performing its core business. They include:
- Accountability
- Transparency and integrity
- Teamwork and commitment
- Competence and Professionalism
- Confidentiality.
Other values include
democratic governance,
reward achievement,
and equal opportunity to all members