BACK OFFICE SACCO ACTIVITY (BOSA)
Services and products offered in the back-office are designed to carter for every step in your life.
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
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.