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Details: Written by Super User; Category: Uncategorised; Published: 19 June 2017; Hits: 63058

Jamii Housing Co-operative Society was established and registered in May, 2013. The purpose of establishing it was to provide members with shelter and livelihood within the area of its operation at fair and reasonable prices together with auxiliary services such as road network, drainage, water and power including facilities for physical and cultural recreation. The objective remains noble and members are encouraged to join the Housing Cooperative Society.

Membership Requirements

Be a member of the Jamii SACCO Society Limited.
Registration fee is Kshs.2,000.00 (paid once and is non-refundable).
Minimum share capital of Kshs.20,000.00 (it is non-refundable, but it is transferable or can be sold to an existing member of Housing on exit).

Members are encouraged to open and build their deposits in anticipation to purchase plots/properties once they are available for sale. Note that the Jamii Housing Cooperative Society is run separately from Jamii SACCO, and it has it is own elected Delegates, Central Management Committee (CMC) and Supervisory Committee (SC). However, Jamii SACCO still accords the Housing support in terms of staffing and office facilities during this early stage on mutual partnership.
Current Status

Total number of members registered is 1064
Fully paid up members are 656 (Share Capital and Membership fully paid)
Project I: The Society acquired 18 acres at Isinya, Kajiado County in year, 2014, and sub-divided it into 1/4 and 1/8 plots. The project was sold out and titles issued to members in June, 2016.
Project II: The Society acquired 22 acres at Malaa area off Kangundo Road in year, 2015, and sub-divided it into 1/8 plots and sold out. A few plots though, are remaining and interested members are encouraged to purchase the same. (How many are remaining).
Project III: The CMC of the Housing Co-operative Society identified another 14.1 acres at Eldoret near the University of Eldoret and subdivided into 1/8 plots total 103. The same has been sold out.
All SACCO members are encouraged to join the Housing Society so as to participate in the investment opportunities available.
All SACCO members are also encouraged to assist the Central Management Committee (CMC) of the Jamii Housing Society to identify properties in their counties for acquisition and on-selling to members.

Note:

The Jamii SACCO has developed Asset Financing product to support the members of Jamii Housing Society among other members to acquire loans to purchase identified properties and add value to them.
The Housing Paybill Number is 342550.

Details: Written by Super User; Category: Uncategorised; Published: 16 June 2017; Hits: 19034

THE RIGHT PARTNER FOR YOU.
MICRO-CREDIT/INVESTMENT GROUPS JOINING CONDITIONS:

Registration Certificate from relevant government agency/department.
Minimum number of members in a group is five (5) for investment groups and ten (10) for Micro - Credit groups.
Minimum monthly contribution for the Micro-Credit group is Ksh. 800 per member & Ksh. 5000 for the investment group.
Deposit & loan can be paid daily, weekly, fortnightly or monthly.
Original and complete copy of the Groups Constitution (Memorandum) and certified by Sub-County Social Development Officer (SCSDO).
Each official who is a signatory should submit a current photocopy of the original identity card or current passport and one colored passport size photo.
A letter from the Sub-County Social Development office introducing the authorized group.
Minutes of the meeting where a resolution was passed to open an account with Jamii SACCO duly certified by Sub-County Social Development Officer. (SCSDO).
Minutes stating the terms and conditions of borrowing and withdrawing of group funds from the SACCO.
List of all Group members indicating their full names, identity cards numbers, personal cell phone numbers, email addresses & specimen Signatures. Payment of entrance fee of Ksh 300 per member.
PIN certificate and Credit Reference Bureau (CRB) report for all group members.

LOAN APPLICATION REQUIREMENTS.

The Group account should be operational for 3 months with Jamii Sacco Ltd or with other banking/financial institutions.
Abillity to access loans in multiples of 3 or 5 times on ones deposit.
The Loan agreement form must be fully signed by the Loanee & guarantors.
The Chattel transfer Act form must be fully signed by the Loanee.
The Asset schedule forms must be filled and fully signed by the Loanee & guarantors.
A Lawyer must endorse all the Loan documents.
Attractive Interest rates per annum on reducing balance.
Legal charge over land or property.
The Asset purchased is used as security.
Comprehensive insurance cover to done on motor vehicle investment groups.
Appraisal fee is applicable for all Micro Credit and Investment loans.
All interest rate on loans are on reducing balance
Repayments will be in uniform weekly, fortnightly or monthly installments enabling the group to plan however, groups are highly encouraged to pay more.
Loans to be repaid within maximum period of 12, 24, 48 & 120 months depending on the loan granted.
Must Provide Bank Statement/Business records of your existing account/Business

Details: Written by Super User; Category: Uncategorised; Published: 16 June 2017; Hits: 8318

The new re-engineered Project Loan has the following features:

Loan granted four (4) times of member total deposits.
Interest rate is 1.17% per month or 14% per annum on reducing balance.
Maximum repayment period 30 months.
Maximum loan of Kshs.1,000,000.00.
Available to payroll based members only.
Loan must be fully guaranteed.
Remittances from employer MUST be up to date.
Available to members with existing long term loans or Top Up loans and performing.
Recovery within 1/3 rule of the basic salary.
Loan attracts 1.5% of the approved amount.

Details: Written by Super User; Category: Uncategorised; Published: 16 June 2017; Hits: 15475

This is a facility for retirees and it has the following features:

Available to retiree members only
The member must be a FOSA Account holder.
The member MUST channel their monthly pension through FOSA/ Member provide evidence of ability to pay.
A copy of the retirement letter and an official form electing the Jamii SACCO FOSA as the pension pay-point should be attached.
Maximum repayment period is 36 months.
Ability is computed based on 1/3 rule on member’s net pension.
Loans must be fully guaranteed by Deposits or Golden savings account.
For self guaranteed loans the loan will be issued 80% of free deposits.