FAQs

How do I pay Uamininfu Advance (Mloan)?

1. STEP 1: Start by depositing funds using the below procedure:
   • Mpesa paybill number: 483708
   • For account number, use your member number
2. STEP 2: Proceed to repay the Mloan using the below procedure
   • Dial *477# then enter your Mobile Platform PIN
   • Choose option "7. More Services"
   • Choose option "1. Repay loan"
   • From the list, choose the loan you wish to repay
   • Enter the amount you wish to repay then complete the transaction by entering your PIN
   • You will receive a SMS confirmation of the loan repayment

Is Uaminifu Share Capital refundable?

• Uaminifu Share CApital is not refundable but can be transferred to another member

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 difference between Normal savings & Premium savings?

• Normal Savings are only withdrawn on cessation of membership while Premium Savings are freely withdraw- able.

What is the maximum amount a member can guarantee?

• Maximum of 20% of the loan applied

What is the difference between the shares and Normal Savings?

• Normal Savings form the basis of loan eligibility and earn interest annually while the share capital is an investment by the member in form of availing capital to the SACCO for a return in terms of dividends

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 member is required to save at least sh 2,500 monthly
• For loans of ksh 500,000 and above, member is required to save at least 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 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