Edfri

Edfri Launches New Season Sacco! PDF Print E-mail
Sunday, 01 March 2009 12:21

Our companyThe NS-SACCO aims to empower all joining members economically by nurturing a savings culture among the members. Under the mandate of the Cooperative Societies Act and NS-SACCO By-Laws, this basic principle has laid systems, structures and procedures in place to encourage economic expansion for members. One of the aims of this New Season is to champion Christian Development that is empowering in a holistic manner – tangible and intangible. The Cooperative Societies Act, under Kenyan Law, provides for different groups to start and sustain savings and credit facilities in a very competitive business environment.

What is NS-SACCO

It’s a church-run professional organization established under a prophetic proclamation to usher its members into a season of economic expansion through the provision of well-tailored financial services (savings and credit facilities within co-operative ideals).

Vision

To drive essential economic empowerment for members in a transformational and professional manner.

Mission

To encourage a savings culture and facilitate affordable credit in an ethical, efficient and effective manner as well as tailor specific financial services to members while educating them on matters financial in order to enable them take greater control of their own economic development.

NS-SACCO Membership

  1. Membership is open to all who wish to become members
  2. The common bond between the members is of mutual concern, loyalty and trust
  3. A membership application must be filled out correctly
  4. Admission is done once the member pays a registration fee of Kes 100 and a minimum of 5shares at Kes 100 each
  5. A member must contribute a minimum monthly fee of Kes 500
  6. A membership identification card is issued to all its members

NS-SACCO Products & Services

  1. Shares - Every potential member must purchase a minimum share as determined by the SACCO making each member an owner of the cooperative.
  2. Savings – Every member must have monthly contributions that build an accumulation over time for his/her own benefit
  3. Quick/Emergency Loans – There is provision for unforeseen/un-budgeted circumstances
  4. Loans – Members can access loans based on their shares and savings as follows:
    • Normal loan
    • School fees loan
    • Emergency loan
    • Short term loan
    • Household loan
  5. Term Deposits – Access to deposit accounts at varying interests for a fixed period of time, e.g. Christmas and educational savings

NS-SACCO Individual Benefits

  1. Sacco interest rates on both savings and loans are better than those offered by commercial banks
  2. Members get education on financial matters and sound financial practices
  3. Savings provide future financial security
  4. High savings qualify for higher loans
  5. High savings result in higher dividends
  6. High savings will strengthen the SACCO’s lending capacity


KARIBU NS-SACCO and begin Securing your future!

 

 
Last Updated on Friday, 19 March 2010 02:03