BACK OFFICE SACCO ACTIVITY (BOSA)

Services and products offered in the back-office are designed to carter for every step in your life.

SAVINGS

Since wealth is a function of savings it doesn’t matter how much you earn or wherever you work. If you do not save you cannot accumulate wealth. Our members are encouraged to save more.

(a)    Entrance fees

This is paid once a member is enrolled into the society by  completing a membership application  form and submitting copies of  ID card and payslip for file documentation. To date the entrance fee stands at Kshs.200

(b)    Shares

Our minimum share contribution is Kshs.1,500. To withdraw his or her shares, a member must give a notice of 60 days subject to clearance of all members indebtedness with the Sacco.

(c)    Sinking fund

This is a compulsory scheme for all members. Monthly contribution is Kshs.200 per month. This pays the outstanding loans for the deceased. In order for the beneficiaries to be paid promptly, we urge our members to :

  • Update your nominees with the Sacco incase one is not sure to avoid legal tussles.
  • Incase one would like to declare more than one nominee, indicate the percentage to be given to each.
  • Incase a member dies , intestate his or her savings is forwarded to the public trustees.