a) These are monthly savings made to the Sacco by members.
b) Sacco deposits are non-withdrawable but are refunded upon withdrawal of membership or upon death of the member.
c) To withdraw the member has to fully pay all Sacco debts and be free from any guarantee.
d) The mandatory Minimum Monthly contribution is Kshs. 2,000.
Benefits of saving regularly
1. Earns interest
2. It helps you create a culture of saving
3. Sacco deposits forms the basis of borrowing of up to 3 times your deposits to a maximum of Kshs 40 Million
4. Deposits act as loan security for own loans and guaranteeing others.
5. Helps members to save for a particular goal or need.
6. Saving regularly improves your internal credit score.
7. Gives you the opportunity to participate in managing the affairs of the Society.
8. Benevolent fund offers financial security.
