How do I check my Ukulima Sacco balance?

Once your account has been activated you will need to dial *882# to start using the platform for the following services: Withdrawal from FOSA Savings account to MPESA. Balance enquiry.

How do I register with Ukulima Sacco?

A. Individual Membership

1. Complete Membership Application Form (Click here to download)
2. Attach copy of Kenyan National Identity Card or Valid Kenyan Passport.
3. Attach coloured passport size photograph.
4. Attach latest payslip ( if applicable)
5. Attach a copy KRA Pin Number.

How does Ukulima Sacco work?

These are the continuous monthly deposits that members make to the Sacco throughout their membership. This is Ukulima Sacco’s transactional account which operates as a current account. This account has a minimum balance of $ 100 and amounts above $ 200 earns competitive interest and has no monthly charges.

How do I withdraw shares from Sacco?

What is the procedure of withdrawing from the Sacco? You need to apply for withdrawal from the Sacco in a formal signed letter giving the Sacco sixty days notice in line with Sacco by laws. The letter should be accompanied by your ID copy.

How do I buy shares in Sacco?

Q: How do I become a member? A:By filling in a membership form and paying a membership fee of Kshs. 5000 The form can be downloaded from our website. Membership fee is payable upfront and one can pay either through the Bank, Sacco or Mpesa You will also be required to buy 300 shares of Kshs.

How do I withdraw money from Sacco Ukulima?

Over the counter withdrawal, ATM card, USSD *882# or Ukulima Kash App downloadable from Google Play Store.

Are Sacco shares refundable?

Shares are Non- refundable and cannot be withdrawn even on exit from the Sacco but can be transferred to another member of the Sacco. This cannot be used as security on loan.

Are shares refundable?

However share capital is also refundable through the following procedure: Share capital can be sold to a new member who is joining the sacco or an existing member. The society will create a fund – share transfer fund to be used to refund money to those members who will not find somebody to buy the shares.

What is the interest rate for Saccos?

With Kshs 10,000, one can earn an interest of 8.5% annually on a fixed deposit account with the SACCO.

Are SACCO shares refundable?

Which is the best Sacco in Kenya?

Best Investment Saccos in Kenya

• Unaitas SACCO.
• Kenya Police SACCO.
• Stima SACCO.
• K-Unity SACCO.
• Waumini SACCO.
• Maisha Bora SACCO.
• Hazina SACCO.
• Wanandege SACCO.

Can I withdraw my shares from a Sacco?

Shares can only be transferred to members only and not withdrawable.

How do shares work in a Sacco?

This is the unit/measure representing a member’s portion of ownership of the society as a co-owner. Shares are not withdrawable but are transferable to another Sacco member upon exit of membership.

What is share deposit in a Sacco?

DESCRIPTION. This is a unit of ownership of the SACCO and members earn dividends on the same annually when declared. The Share Capital is not withdraw-able but can be sold or transferred to an existing member upon one’s withdrawal from the SACCO.

Are SACCOs better than banks?

SACCOs are arguably more accommodating in their debt collection than banks making them a good option during harsh economic times. Here are some advantages of taking loans from SACCOs over banks in Uganda. It’s no lie, SACCO loans are easily accessible compared to bank loans.

Which is better Sacco loan or bank loan?

Saccos are arguably more accommodative in their debt collection than banks, making them a good option during harsh economic times. Its no lie, SACCO loans are easy accessible compared to bank loans. Banks will require a host of documents that not all might provide before your loan is approved.

How much dividends do Saccos pay?

Other double-digit dividend-paying SACCOs in 2021 include Kenya Police Sacco, which paid a dividend at the rate of 17%, Cosmopolitan SACCO at 15%; Stima SACCO, which paid 14% dividend on Share Capital and Invest & Grow(IG) SACCO which paid a dividend at the rate of 12%.

Can I withdraw my shares from a SACCO?