Savings

Ordinary

This is a permanent and perpetual investment which will earn interest monthly depending on the accumulated amount at that period. The minimum monthly subscription is E290.00.

Maxi-save

This is a savings product where members save a minimum of E 50.00 on a monthly basis for their long-term needs, with an option to withdraw half of the amount invested after a fixed period of 60 months. Members can also make lump-sum deposits to top up the monthly savings and the 30% re-investment of interest paid on ordinary savings.

School

This is a savings product where members save a minimum of E 200.00 on a monthly basis to finance their own or their children’s educational needs. The savings can be withdrawn twice a year with interest when the need arises at the end of at least 6 months period.

Holiday

This is a savings product where members save a minimum of E 100.00 monthly, the purpose is to finance annual holidays or any other special need that may arise. The savings can be withdrawn twice a year with interest at the end of at least 6 months period.

Likusasa

This is a savings product where members save a minimum of E 100.00 on a monthly basis for a fixed minimum period of 36 months (3 years). The purpose is to finance any special need that may arise in the future. Savings can be withdrawn at the end of the 36 months; however, members may decide to re-invest the money for another term.

Inyango

This is a savings product that allows members to deposit a lump sum investment of at least E10 000.00 for a fixed period of 36 months.

Youth

This is a savings product where members are encouraged to save a minimum of E 50.00 for their children’s future educational needs, which can be in the form of long-term savings where the child would access the money at a certain age, for example, 18 or 21 years. Secondly, children are also encouraged to individually make withdrawable savings, which they can withdraw at agreed periods of 6 to 12 months.

Estala

This is a savings product where members save a minimum of E 100.00 on a monthly basis for their retirement and or long-term investment needs. Members have the option to withdraw invested amount after a fixed period of 60 months and this applies to members who are below the age of 45 years. Members who are older 45 years and above can only withdraw their investment once they are officially retired from employment or reached the age of 60 years. Members can also make a lump-sum deposit to these savings on top of the monthly minimum savings.

Shares

This is a mandatory requirement where members subscribe a minimum of E 4,100.00 that entitles a member to a shareholding in the Co-operative and it relates to the rights of the member to be involved in the decision making of the SACCO. The amount can be paid as a lump sum or in affordable instalments of not less than E 100.00 per month (subject to change from time to time).

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