Uaminifu Sacco Updates - April 2017
I take this opportunity to thank all the delegates for the participation during the Annual delegates meeting held on 1st April, 2017; In addition to the updates made to you by the delegates in relation to the meeting, I wish to highlight on the following:
Returns to Members: Members will be issued with the Interest and dividend advice statement in the course of the month.
Bonus Share: All active members with shareholding by December 2016 will be eligible for a bonus share whose distribution will be at a rate of 0.11 of the share amount held.
Golden Savings: This year we will be running a promotion on Golden savings. This product enables a member accumulate minimum savings of Kshs. 1,000.00 for a minimum return of 7% for withdrawal at the point of employment contract maturity. It thus increases the member outlay for investment and serves as a good pension plan. Members are encouraged to subscribe through filling the attached form.
Likizo Loan: Members wishing to access the loan for the Easter Break are allowed to transfer the 10% savings requirement from their Dividend or interest for Loan eligibility.
Share capital contributions: We appreciate and thank all members who have attained the minimum share capital of Kshs.25,000.00 and encourage members’ to voluntarily increase share subscription for increased and assured returns. For members who have not attained the minimum amount the dividend payable will be capitalized.
Normal Savings Contribution: In tandem with the growth of the SACCO and demand for SACCO products we will be reviewing the minimum monthly contribution from Kshs. 1500.00 to Kshs. 2,000.00. The review is effective from 1st May, 2017.
Regional performance and award: This year we will be rating Regions based on Savings mobilization and patronization of all SACCO products. Delegates from the best performing Regional will be rewarded.