Frequently Asked Questions

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Frequently Asked Questions - Membership

  • The Sacco is open to any individual both adults & children who have yet to attain the age of 18. They should be of sound mind.

    • Quick Loan Approvals & Disbursement Procedures.
    • Low Loan Interest Rates.
    • Access To Quick & Convenient Mobile Loans Of Up To 5k.
    • Member & Beneficiary Last Expense Cover.
    • 24/7 Access To Member’s Account Via Our Online Members Portal.
    • Access To Deposit Based Loans Of Up To 2.5 Times Of Savings.
    • Annual Dividends & Rebates On Member Deposits.
    • Our Dedicated Team Is Highly Qualified & Ready To Serve You.
    • Innovation In Terms Of Products, Service & Technology.
    • Complete The Membership Registration Form In Full.
    • Payment Of Non-Refundable Entrance Fee Of Ksh 500.
    • Payment Of Non-Refundable By-Laws Fee Of Ksh 200.
    • Attach A Copy Of Your Identity Card (Both Sides).
    • Attach A Pair Of Colored Passport Photos.
    • Attach A Copy Of Your KRA Pin Certificate.
    • For children who are under the age of 18, The parents' details will be used to cosign.
    • Attending members’ education days.
    • Adhering to your society’s by-laws.
    • Attending Annual & Special General Meetings.
    • Encouraging potential members to join your society.
    • Liability for the debts incurred as a member and/ after ceasing to be a member.
    • Authorize investments by the society.
    • Ensure the keeping of true and accurate records of account.
    • Determine the interest rates on loans, subject to the society’s by-laws.
    • Adhere to the Cooperative Societies Act, Rules and By-laws, and prudent business practices in all its activities and undertakings.
    • Recommend to the annual general meeting, the dividend rate to be paid on shares, and the interest and refund payable to borrowers.
  • The Sacco is licensed & regulated by the Sacco Societies Regulatory Authority (SASRA). It is managed by board of directors and management as per cooperative Society’s Act, Rules and Sacco By-laws.
    We have implemented the Good Corporate Governance Charter, Code of Ethics & the signing of the code of confidentiality. We also hold our yearly Annual Delegate Meetings where reports & financial accounts are represented to delegates.

  • You are mandated to give a written notice of 60 days (normal withdrawal). Withdrawal is subject to clearance of all Sacco liabilities(Loans or any other debt).

Frequently Asked Questions - Savings

  • The Minimum Monthly Contribution is Kes. 1,000, payable daily, weekly or monthly.

    • Deposits are refundable while Share Capital is nonrefundable but transferrable to a nominee or another member.
    • Shares are never used as a loan security while deposits may be used as loan security.
    • Share capital earn dividends while savings/deposits earn interest.
    • Members are not permitted to borrow against share capital as Shares are never used as a loan security while deposits may be used as loan security.
  • With the approval of the board, a member who wish to exit the SACCO may at any time transfer shares to another member but not to a non-member. Such transfers must be in writing by both the member exiting and the member buying the shares.

  • You are mandated to give a written notice of 60 days (normal withdrawal). Withdrawal is subject to clearance of all Sacco liabilities(Loans or any other debt).

  • This is a share of the surplus of the society, which is divided amongst its members, based on the Sacco’s profitability & a member’s shareholding percentage.

  • All you need to do is login to your online members portal whereby you will input your Member Number & ID number before setting up your unique password. Using this portal, you will be able to view your balances, apply for instant loans & also post feedback to the Sacco management.

Frequently Asked Questions - Loans

Frequently Asked Questions - Benevolent

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Contact Us

Our Address

House Of Transformation Church Grounds On Exit 7,
Garden Estate Road, Off Thika Rd, Nairobi

Email Us

info(at)shekinahsacco.com
shekinahsacco(at)gmail.com

Call Us

+254 0741 088 074
+254 0775 584 288

Our Location-Shekinah Sacco Society Ltd