Frequently Ask Questions


Have a look at list of our most popular Frequently asked questions & answers:


You can now join the Sacco Online though our iConnect Web portal or Download the membership application form here , attach your passport photo, copy of ID and a copy of KRA pin certificate.

An SMS notification with your member number shall be sent to your phone within 48 Hours.

Yes, one-off fee of Kes.1,000

Yes, the Minimum Monthly Contribution is Kes.3,000

The share capital is the core capital of the Sacco. Each and every member is mandated to purchase minimum shareholding of 400 shares each share is 100/= equal to Kes 40,000/=

A member should meet the minimum shareholding within 12 months from date of joining and should contribute a minimum of Kes.3,400 per month

The share capital is non-refundable and is only transferable to an existing Sacco member or sold to a Sacco member when you cease being a member.
A member may opt to keep the shares as an investment and continue earning dividends

Yes, you may introduce your friends, colleagues and family to join the Sacco

The returns are earned at the end of every financial year according to Sacco’s performance.

Yes, 5% withholding Tax except for persons with disabilities with a tax exempt certificate

Yes, you can purchase more shares. The Maximum share should not be more than a fifth of the total shareholding. However , member needs to sell or transfer the shares to any member.

Yes you can continue with your membership and continue monthly savings while servicing any existing loans

Through Bank standing order, M-Pesa Paybill or Employer Check off. This can be accessed through our website here.

Yes and patronize FOSA services. They can also borrow up to 5 times savings. They also MUST be registered & one of the chama members must also be a member of the Sacco

Save and access affordable loans at only 1% p.m., negotiated discounts through our vendors, Projects by the Sacco, affordable mortgage interest rates among many other benefits

You get Rebates on Savings and Dividends on your Shares annually

We have a vibrant iConnect portal where you can check your statement and interact with us anytime! Also on SafCIRI app both on Play Store and App Store

Loan Eligibility

You need to save consistently for at least 6 months in BOSA to qualify for long term loans & 3 months for short term loans

Back Office Services Activity. Funds in BOSA are NOT withdrawable unless you take a loan or Withdraw from the Sacco to access your funds

Yes. If you deposit a lump sum larger than your current savings, you will need to wait for at least 3 Months in order to qualify for a loan. To borrow immediately , you will be charged a certain fee that the credit officer shall disclose to you

Yes we do, all you need is seek advice from our credit officers by presenting Latest Certified Loan Statement/s from the Financial Institution.

This varies on the type of loan a member is borrowing: The processing period for a long term loan is within 5 working days while that of short term loan is within 24hrs

A Short term loan is a loan that you service within a period of 12 Months and does not exceed Kes1M. A long Term loan exceeds Kes.1M and repayment period is over 12 Months.

You need to have a Guarantor if borrowing over and above your savings. Currently, the Sacco has also opened up to other forms of security e.g. Tittle Deeds, Logbooks.

All our loans can be accessed online on iConnect and other loan requirements can be downloaded from the website. This applies to all type of loans Short /Long term loans

This means that your employer remits deductions to the Sacco directly and has signed a memorandum of understanding with the Sacco to remit by every 5th of the month

You may have one or more guarantors although the loan MUST be fully Guaranteed

The ratio is 1:3 , meaning your total Sacco loans should not exceed 3 times of your savings

Yes you can pay your loan in lumpsum repayment/s anytime. We do not penalize you for fast tracking your loan repayment

Yes you can borrow a loan as the maximum you can guarantee is up to 5 times your total savings.

Your liability as a guarantor reduces as the loanee pays the loan and this is accessible to you via iConnect portal

Yes, you deposit the cash into your FOSA account then we process an LPO as you enjoy the discounted rates from our selected vendors.

Safaricom Ltd- Phones, Furniture – Victoria Courts & Odds & Ends, Salute I World – Authorized Apple Dealer, Ryce East Africa, among others available on our website. Financing available

 Yes you can by filling in a next of kin update form downloadable from the website here

The notice period is 60 days to enable the Sacco align your account i.e. If you had guaranteed someone, they will need to find replacements in order to release you.


FOSA stands for Front Office Services Activity. Funds in FOSA are withdrawable anytime depending on the type of savings account

It was launched in 2011 and we are a deposit taking Sacco regulated by SASRA – Sacco Regulatory Authority

Every member by default has a FOSA A/C

You can operate your FOSA just like any other “Bank” account. Process your salary, Make deposits to your account via M-Pesa or direct funds transfer. We also pay all loans via FOSA

Over the counter withdrawal, ATM card, USSD *345#, SafCIRI app downloadable from App Store & Play Store

Yes. You use the same password as the one for USSD *345#. Should it be your first time to use it , tap on the registration button.

No you need to register for ATM by filling in the ATM application Form

Yes , we have different types of accounts you can open from Junior , Jaza Jaza, Fixed Deposit, Holiday accounts among many others

7.5% p.a on amount above Kes.10,000

4.5% p.a withdrawal is only Bi-Annually

Yes you can apply via USSD *345# or SafCIRI app by selecting ‘Rununu Advance’.

No. The only charges are over the counter withdrawal at Kes.59 ,
FOSA to M-Pesa Withdrawal fees Kes.59. Funds transfer through Pesa link is Kes.350 per every Kes.300,000 transaction. Maximum transfer per day is Kes.999,999.

Benevolent /Hand of Comfort

Cover is for kids of age 1 month onwards.

In the case of one OR more spouse but without kids and parents to cover, this
can be covered by filling in details in one form but charges for additional spouse apply
as under:
Option 1 benefit – Kes 900
Option 2 benefit – Kes 1,800
Option 3 benefit – Kes 2,700
Option 4 benefit – Kes 3,500
In the case of one more spouse with kids and parents to cover, this can be covered
by filling in details in another form. We treat this as another household and full option
charges apply with the Principal member being “premium sponsor.”
In case of loss of any life in this household, benefits shall be paid to the sponsor. Loss of
sponsor shall be paid in both households but subject to a limit of Kes 750,000.

Yes, all other additional spouses and households to be treated same as 2B above.

Where a document is missing, an affidavit shall suffice. This case requires an affidavit which is a sworn statement by principal member acknowledging a spouse and kids.

Yes, notice the use of the word “spouse” to refer to husband or wife or whatever the case that may be.

Yes. Charges are;
Option 1 benefit – Kes 200
C2 – Safaricom Internal
Option 2 benefit – Kes 500
Option 3 benefit – Kes 800
Option 4 benefit – Kes 1,100

Yes. We shall require Adoption documents/Letters of Administration/ or Affidavit to that effect.

Yes, you can. We shall need an Affidavit declaring the said guardianship.

48 hours YES, 48 hours if full documentation is provided.

Changes in benefit levels are ONLY accepted at each renewal date that is after 12 calendar months.

Changes in benefit levels are ONLY accepted at each renewal date that is after 12 calendar months.

The cover is family rated covering up to a maximum of 5 deaths per year (12 calendar months). Loss of 5 of the covered members, whether at once or in the cover year is payable.

The parent is covered at full benefit with priority to the sibling’s cover option who shall have enrolled first. Only one more subsequent sibling can be allowed, and shall receive the lesser of the difference between the first sibling’s cover option and the maximum of Kes 750,000 subject to the second sibling’s option e.g.
i) 1st sibling option Kes 500,000 is payable in full
– 2nd sibling option is Kes 500,000 only Kes 250,000 is payable
ii) – 1st sibling option Kes 200,000 is payable in full
– 2nd sibling option is Kes 500,000 then Kes 500,000 is payable to second sibling
iii) – 1st sibling option Kes 300,000 is payable in full
– 2nd sibling option is Kes 500,000 then Kes 450,000 is payable to second sibling
The decision regarding who joined first solely lies with KUSCCO Mutual Assurance. Where a scenario of same date of joining occurs, and the sum of options are less than Kes 750,000 proportionate division of the benefits shall be applied.

In today’s world, we have realized the use of smart phones with ability to take photo and share via social platforms (WhatsApp) has made this easy. Also, the spouse can be engaged to get the photos without suspicion. Kindly, this is a requirement and just like the Burial Permit can be provided, this too can be provided.

The benefit for the loss of a spouse covered shall have already been paid in the cover period, and a new spouse can only therefore be covered at the next renewal. A notification of the same shall be needed at renewal date to allow for nomination of the new spouse.

Yes. This can be done when your notification is shared to us. However, a new spouse cannot be introduced in the same cover period but only at renewal.

This is why we highly encourage and insist that documentation be provided at the time of application into the scheme. This also makes claims documentation and settlement very fast and within the 48hours. In a case where these has not happened, a case by case review of the circumstance can be undertaken and a substitute document communicated.

This depends with scheme. Where it is the SACCO that has taken cover for its members, and is the sponsor of such a cover we shall wire the benefit to the SACCO. Where members are paying for it even if through the SACCO, our claims forms provide for declaration of Bank Details to enable direct payment.

NO. Once you opt out of the scheme, there shall be no refund payable during or after the renewal period which is annually

YES. This is highly encouraged especially for members whose monthly deductions are on M-Pesa and would forget to remit their monthly contributions. However, there will be no refund in case you opt out of the product.

No this is NOT possible. You need to be contributing consistently to the scheme on a monthly, Semi-annual or Annually

No this is NOT possible. You need to be contributing consistently to the scheme on a monthly, Semi-annual or Annually.

YES, Only IF you not claiming immediately. 3 months duration to claim shall APPLY.

Once forms and documentation are received +first installment. For continuing members, this is not necessary.

Other Key Important Information

  • Covers Member, member spouse, up to 4 children, biological parents and biological parents’ in-law, declared siblings at inception.
  • Spouse is defined by marriage or an affidavit. Children are defined by birth certificate, adoption documents or an affidavit.
  • Pays benefits for up to a maximum of 5 deaths per family per year.
  • Member and spouse entry age – 18 to 70 years: children cover ages – 1 month to 18 years (24 years if still in college: perpetual cover for special children): parents and parents’ in-law entry age – 18 to 85 years: siblings cover ages – 1 month to 70 years.
  • New entrants (not currently in the existing Welfare): Member, spouse and children waiting period – 1 month: parents and parents’ in-law and siblings waiting period – 3 months for death by natural diseases. NO WAITING PERIOD FOR DEATH BY ACCIDENT.
  • Members are not subjected to any medical requirements up to the limits indicated.
  • Each member can opt for higher benefit as he/she wishes but at premiums indicated
  • Policies have NO HIV/AIDS exclusion. We pay claims irrespective of cause of death.
    All required documents MUST have been received in order for claims to be honored. The
    documents are:
    i) Executed affidavits MUST be produced where required documents are not available e.g. Birth Certificates, legal adoption documents, guardianship/sponsorship, Marriage Certificates etc.
    ii) Where child is in college, college ID copies should be attached.
    iii) Dully filled in Claim form