It draws its membership from Kiambu County and beyond including Diaspora, currently with a membership of over 6200. Over the years the society has disbursed over 1 billion shillings as loans to its members and accumulated over 500 million deposits. We offer diverse products to both individual members and groups. We are located at P.C.E.A Ruiru town plaza.
Savings Products;
1. Non-Withdrawable Savings.
This enables a member to safely save his daily business earnings and withdraw the following day or any other day in the course of his business.
Minimum savings of Kshs. 500 per month.
Loans are issued against non-withdrawable deposits.
2. Elimu Bora
This account enables members to save for the educational needs of their children/dependents:-
Withdrawal can only be done twice a year, once after every six months.
The deposit can be done daily or monthly depending on the member's source of funds.
Interest at 5% p.a. on prolata
3. Terms Deposit
Savings is done anytime.
Withdrawal can be done once a month
4. Holiday savings account
A holiday savings account enables members to save for their holidays. Withdrawal should be done once a year.
Saving can be done daily.
Interest at 5% per annum on prolata.
Loan Products;
For one to qualify for a loan product, a member must have met the following:
- Saved for a period of not less than six months.
- Good credit history
1. Quick Fix
This falls under an emergency loan which does not exceed Ksh. 10,000.
It is processed within one day. Its repayable in 4 months with and interest of 5% per month on reducing balance.
2. Emergency Loan
This is a loan provided for emergency cases e.g. medical expenses, court cases, and college fees.
It is repayable in 12 months at an interest of 1.15% per month on a reducing balance.
Emergency loan does not exceed Ksh. 50,000
3. School Fees Loan
This is a loan granted to members to pay school fees for themselves, their children and dependants.
It is repayable in 12 months (calendar year) at an interest rate of 1.15% per month.
When applying, the member is required to attach the fee requirement documents
4. Normal Loan
This is a development loan given at 3times of a member’s shares. It is repayable in 36 months with an interest rate of 1% per month on reducing balance.
5. Super Loan
It is a development loan given 4 times of member’s deposits repayable in 48 months with an interest rate of 1.2% per month on reducing balance.
To qualify for this loan one must meet the following conditions:
minimum deposit Ksh. 250,000
Should not be the first loan to apply
Should not have defaulted in the past loans
It should be guaranteed and where necessary additional security may be required
6. Pamoja Loan
This is a group development loan repayable within 36 months granted for development purposes such as buying land, construction, purchase of equipment & machinery, vehicles e.t.c. maximum amount granted is 3 times of the group’s savings. Interest rate is 1% per month on reducing balance.
Conditions
The group should be a member for more than six months.
Guarantors should be members of the group
At least two guarantors should not be servicing any other loan
7. Asset Financing Loans
Interest is charged at a rate of 1.5 % per month on the reducing balance method.
No guarantors are required.
Savings Products;
1. Non-Withdrawable Savings.
This enables a member to safely save his daily business earnings and withdraw the following day or any other day in the course of his business.
Minimum savings of Kshs. 500 per month.
Loans are issued against non-withdrawable deposits.
2. Elimu Bora
This account enables members to save for the educational needs of their children/dependents:-
Withdrawal can only be done twice a year, once after every six months.
The deposit can be done daily or monthly depending on the member's source of funds.
Interest at 5% p.a. on prolata
3. Terms Deposit
Savings is done anytime.
Withdrawal can be done once a month
4. Holiday savings account
A holiday savings account enables members to save for their holidays. Withdrawal should be done once a year.
Saving can be done daily.
Interest at 5% per annum on prolata.
Loan Products;
For one to qualify for a loan product, a member must have met the following:
- Saved for a period of not less than six months.
- Good credit history
1. Quick Fix
This falls under an emergency loan which does not exceed Ksh. 10,000.
It is processed within one day. Its repayable in 4 months with and interest of 5% per month on reducing balance.
2. Emergency Loan
This is a loan provided for emergency cases e.g. medical expenses, court cases, and college fees.
It is repayable in 12 months at an interest of 1.15% per month on a reducing balance.
Emergency loan does not exceed Ksh. 50,000
3. School Fees Loan
This is a loan granted to members to pay school fees for themselves, their children and dependants.
It is repayable in 12 months (calendar year) at an interest rate of 1.15% per month.
When applying, the member is required to attach the fee requirement documents
4. Normal Loan
This is a development loan given at 3times of a member’s shares. It is repayable in 36 months with an interest rate of 1% per month on reducing balance.
5. Super Loan
It is a development loan given 4 times of member’s deposits repayable in 48 months with an interest rate of 1.2% per month on reducing balance.
To qualify for this loan one must meet the following conditions:
minimum deposit Ksh. 250,000
Should not be the first loan to apply
Should not have defaulted in the past loans
It should be guaranteed and where necessary additional security may be required
6. Pamoja Loan
This is a group development loan repayable within 36 months granted for development purposes such as buying land, construction, purchase of equipment & machinery, vehicles e.t.c. maximum amount granted is 3 times of the group’s savings. Interest rate is 1% per month on reducing balance.
Conditions
The group should be a member for more than six months.
Guarantors should be members of the group
At least two guarantors should not be servicing any other loan
7. Asset Financing Loans
Interest is charged at a rate of 1.5 % per month on the reducing balance method.
No guarantors are required.
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