Services
Jamii Benevolent Fund
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).
Refund of JBF after termination of membership
Refund of contributions to a member who has Exited/withdrawn and has not benefited from the scheme will be paid as follows:
- 1 to 3 months - No refund
- Over 3 months to 3 years - 25%
- Over 3 years to 7 years - 50%
- Above 7 years - 75%
