One of the best and safest ways to save money and invest is through the Saving and Credit Cooperative Organization (SACCO). One of the well-known and sought-after co-operatives is the Waumini Sacco. The organisation has been in existence since 1980, making it a reliable and sustainable outfit. So, what do you know about the Sacco's registration and registration procedure?
Waumini Sacco has achieved untold results in diverse membership and inclusive service delivery to individuals, cooperate institutions and organised catholic church groups. It has a membership of above 33 thousand from catholic institutions across the 26 catholic dioceses in Kenya and the catholic church faithfuls
Waumini Sacco has prospered through several of its visionary leaders. It has staff dedicated to providing excellence as a tool to keep the ever-growing financial space. The dedication of Waumini Sacco staffs has made it possible for the Sacco to pull huge numbers of members and economic environments over a long time.
Waumini Sacco is a Savings and Credit Co-operative Society that was formed and officially registered in 1980 under the Co-operative Societies Act of the Laws of Kenya. It has transformed the lives of many members thanks to loans and dividends. Members also enjoy other benefits including, savings, salary advances and benevolent fund services. For instance, it has helped several members to buy plots through loans, thus improving their living standards. Over time, the famous Sacco has expanded, serving the needs of over 33 thousand members.
The Sacco offers a range of loan services to choose from. However, you need to be an active member and meet all the requirements to get the loan. Some of the popular loan services include.
Development loans compromise guarantors and collaterals. The shares entitle to a maximum limit and are not used to secure the loan. The security comprises the guarantors and collaterals. Additionally, the shares entitle to a maximum limit but are not used to secure loans.
This loan is given to members who apply for less than their total BOSA loan.
This is a loan that is granted for investment and development purposes. Its definition implies the section of society which provides essential and affordable banking services to meet members' needs. It is an investment of the community directed towards providing more services and products to members and managing competition from other SACCOs.
This loan is aimed at people with short-term financial needs, for instance, medical needs and has short terms with high-interest rates.
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This loan is given to members planning to undertake the development of buildings and structures for commercial purposes.
In order to access the mobile loan, you need to have a phone or any device to use. You simply dial *346# on your phone and select option eight Waumini cash, and follow the prompts. If successful, the loan is credited to your Fosa loan.
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This is a loan given to members based on the previous year's dividends. The security of this loan is the previous year's dividends, and the repayment is on a monthly basis, or it is offset against dividends.
If you are a parent looking for a customised loan option, this service is a perfect choice for you. The loan is payable within one year.
BOSA is an acronym for Bank Office Services Activities, and it refers to the traditional Sacco, where one saves and accesses credit.
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Waumini Sacco draws its membership from employees of Catholic-based organisations and Catholic faithful in Kenya, their spouses and children. To join Sacco, you can visit their official website or the nearest branches in Kenya. You need the following requirements to join:
With the ever-advancing technology, Sacco aims to improve its service delivery. It has a members' portal where you can view statements and balances of your loans and accounts. To log in, you only need your membership number and password.
Waumini Sacco also gives its members dividends. One can access Waumini bonuses by dialling *346# using your mobile phone.
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To withdraw money from Waumini Sacco, use the code *346# on your mobile phone, select option 8 Waumini cash, and follow the prompts.
Waumini Sacco has a membership of above 33, 000 from catholic institutions across the 26 catholic dioceses in Kenya, catholic church faithful and past employees of catholic institutions mzalendo.
Kenversity Sacco: Loans, app, paybill number, mobile banking, contacts
Waumini Sacco is one of the fastest-growing financial SACCOs in Kenya. It has provided its members with an efficient way of benefiting from simple loan terms and conditions. Extending credit to its members has helped empower them economically and socially.
Tuko.co.ke published an article about Kenversity Sacco. Kenversity Sacco is one of the oldest savings and credit societies in Kenya. Initially, it accepted membership from Kenyatta University (K.U.) employees. However, it has since changed.
The K.U. based-Sacco recruits and keeps members across East Africa and abroad, regardless of one's employer. Depending on your employment status and your intention of joining Kenversity, you can be a member of one of its membership classes.
Subscribe to watch new videosLilian Wanjala (Lifestyle writer) Lilian Wanjala is a content writer who joined Tuko's team in 2022. She graduated in 2018 from the University of Nairobi with a Bachelor of Arts (Communication and Media Studies). She has worked for many periodicals on a variety of topics like biographies, fashion and lifestyle, guides, and other types of content for over three years. She worked for InformationCradle for close to two years before joining Tuko. In 2023, Lilian finished the AFP course on Digital Investigation Techniques. You can reach her at wanjalalilian875@gmail.
