Investment Savings
1. Member Deposits
These are non-withdrawable savings but are refundable on exit. The minimum contribution is Kshs. 3,000 per month or 10% of basic salary whichever is higher. All members who have not attained the above minimum monthly contribution are encouraged to do so.
Benefits of member deposits
- Gives members the ability to access loans in multiples of 3, 4, or 5 times on one's deposits.
- Member earns a competitive return in terms of interest rebates.
- Enables the SACCO to maintain liquidity.
- For an Asset Finance Property Loan, one must have been a Sacco member for at least 2 years. The minimum monthly contribution is Kshs. 5,000 and the loan is issued up to 10 times the member's deposits.
2. Share Capital
This is a unit of ownership, not withdrawable but transferable to an active member upon exit from the Sacco.
Benefits of Share Capital
- Member earns attractive returns on dividends which are declared annually.
- Enables the Sacco to drive its operations.
- It's a long-term investment option for the members.
Share Capital for Individual Members – Kshs. 20,000 (minimum Kshs. 1,000 each at Kshs. 20)
NB: The same was approved in 2022 with a grace period of up to 2025
3. Jamii Benevolent Account
It is a self-insurance scheme for all Sacco members. All the Sacco members must contribute Kshs. 300 per month towards this fund scheme.
Benefits of Jamii Benevolent Fund
- To settle outstanding loans in the event of a member's death or Total Permanent Disability (TPD). It is a source of funds to insure all loans.
- To pay final dues: Double the deposits of the member to the next of kin or nominee.
- To pay last burial expense of Kshs. 50,000 in respect of the contributor or the elected next of kin.
- Members can update their next of kin even after benefiting from the fund.
- The fund is reinsured with an underwriter (CIC Limited).
4. Jamii Asset Finance Account
This is a special savings account that is designed for SACCO members who are interested in acquiring assets such as land, housing, and commercial motor vehicles.