Uaminifu Sacco - Items filtered by date: March 2016

Uaminifu Sacco Updates - 24th March 2016

I take this opportunity to thank all the delegates for the participation during the Annual delegates meeting held on 19/03/2016; 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 April 2016 and payment will start in the mid of the same month.

Membership on staff Exit: Following approval by delegates, we are on the process of amending the by- laws to allow staff who leave employment to continue with SACCO membership. This will provide an opportunity for members who join new Employers to continue saving and servicing their liability over and above the savings and terminal benefits. This will be applicable where the new Employer commits in writing and remits the deductions on behalf of the member.

Share Capital Contributions: Members who have not attained the reviewed minimum contribution of Kshs.25,000.00 have the next twelve months to attain the minimum shareholding. Option for immediate payments and dividend capitalization are open for the smart investors who wish to start earning by end of this year.

Normal Savings Boost: Members wishing to make lump sum boost for their savings for immediate access to loans will enjoy a waiver of waiting for 3 months for the savings to be eligible for loans. This offer runs from 1st April 2016 to 31st May 2016.

Energy Saving Jikos: There is an ongoing distribution of the Jiko to the Delegates, Where members are interested they are advised to contact the SACCO [This email address is being protected from spambots. You need JavaScript enabled to view it.] Depending on the demand the SACCO may make arrangements for members to pay in 6 monthly installments.

Attached Please find the SACCO and Housing Annual Report for the year 2015

Kariuki Kitabu - Chairman

Uaminifu Sacco Updates - March 2016

I wish to thank you for your continued uptake of the SACCO products. As we approach the beginning of the second quarter am glad to update you on the following offers:

Likizo Loan: Members wishing to take advantage of the Easter Holidays to enjoy the company of the loved ones have an opportunity to access our Likizo loan. All is required is a an upfront deposit of 10% of the required amount followed by application of the loan which will be payable for 12 months at an interest of 1.25% per month.

Fixed Deposits: Members are encouraged to take advantage of the attractive interest rates [see below] on offer to invest in the SACCO. Deposits in these categories can also be used to boost normal savings on maturity.

Cluster 1-3 months applicable rate 4-6 months applicable rate 7-9 months applicable rate 10-12 months applicable rate
20,000-99,999 4 4.5 4.75 5
100,000-999,999 6 7 8 9
1,000,000-9,999,999 10 11 12 13
10,000,000 and above 10.5 11.5 12.5 13.5

Normal Savings and Share Holding;
Considering the attractive returns, members are encouraged to make personal commitment to grow their savings and investment in the SACCO e.g. whenever a member accesses gratuity or gratuity loan, a commitment to save only 1% of that amount would be a worthwhile decision.

Annual Delegates Meeting: For the meeting scheduled for this Saturday [19/03/2016] the respective delegates are requested to observe punctuality. The traveling related cost will be credited direct to the staff accounts by Friday [18/03/2016].

Attached please find the final list of the delegates expected in the Saturday meeting.

Kariuki Kitabu - Chairman

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