How to Become a Member:
- Open & operate a FOSA Account with a minimum balance Kshs.1, 000
- Pay membership fee Kshs.500
- Contribute minimum Share Capital Kshs.15, 000
- Contribute Long term deposits monthly
- Contribute Member Protection Scheme (MPS) Kshs.200 monthly
- Contribute Risk and Retirement Fund (RRF) Kshs.200monthly
- Patronize our products and services
QWETU SACCO MEMBERS' WELFARE
Requirements
- Be an active member
- Honor Contributions Kshs. 400 (MPS 200/=, RRF 200/=) monthly
- Contribute for at least 6 months to start benefiting from the scheme
- Appoint nominees and keep updating changes when necessary
- For MPS claims, produce certificate of death or total incapacitation
- For RRF claims, produce retirement letter or death notification with proof of relationship to the member
Benefits
Member Protection Scheme (MPS)
- Clearance of all loan outstanding balances as at time of demise or total incapacitation
- Next of Kin gets double members BOSA deposits upon demise
- Funeral rider of Kshs.50, 000/= for deceased member to next of kin.
Risk & Retirement Fund (RRF)
- Upon retirement of a member a token of Kshs. 28,500/-
- In case of demise of a spouse a consolation of Kshs. 14,500
- In case of demise of a child a consolation of Kshs. 7,500
- In case of demise of the member the next of kin(s) is consoled with Kshs. 56,500