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.
Attached Please find the SACCO and Housing Annual Report for the year 2015
Kariuki Kitabu - Chairman