Who can be a member of Uaminifu SACCO?
- An Employee of Kenya Women Micro Finance Bank Ltd
- An employee of Kenya Women Holdings Company
- An Employee of Kenya Women Micro Finance Bank Ltd Insurance Agency
- An employee of Uaminifu SACCO and Uaminifu Housing
What are the Benefits of Being a member of Uaminifu SACCO?
- Opportunity to accumulate savings
- High returns on savings
- Low interest rate on loans
- Variety of loan and Savings products
- Timely and speedy processing of loan
- Opportunity to invest with assured returns.
How does a member participate in the affairs of the SACCO?
- Patronizing of the SACCO services and products
- Offering Guarantee to members wishing to take loans
- Sharing insights beneficial for the growth of the SACCO and its membership
- Participating in education forums organized by the SACCO
At What point does a new member qualify for a loan
- New members qualify for loans on saving for a minimum six months and upon employment confirmation.
What is the maximum amount a member can guarantee?
- Maximum of 20% of the loan applied
At what point does a member qualify for a top up loan?
- On payment of a third of the development loan
How is the computation of interest on Normal Savings done?
- Interest on normal savings is computed on prorata basis
What is the savings requirement when one is servicing a loan?
- For loans below 500,000.00 .05% of the loan granted
- For loans above 500,000.00 0.75% of the loan granted
What are the implications of lump sum boost on savings?
- Boosted savings are eligible for loan computation upon lapse of 3 months.
Who elects the Board Members?
- The Board members are elected by the delegates
What are the roles of the Regional delegates
- Serve as representative of the members in the respective region
- Market and educate the members on the SACCO products and services
- Act as a liaison between the SACCO and the members
What is required of a member intending to withdraw Membership?
- For purpose of Normal Savings refund, serve the SACCO with a 60 days’ notice
- Ensure Loans held with the SACCO are fully cleared
- Ensure he/she is fully replaced as a guarantor