SHARE DEPOSITS CONTRIBUTION REVIEW

Dear Member,

 

RE: SHARE DEPOSITS CONTRIBUTION REVIEW

We wish to inform you that the minimum monthly deposits contribution for all members without loans has been reviewed from Kshs.1,000.00 to Kshs.1,500.00.

Contribution for members with loans remain unchanged as follows: –

Loan Amounts (Kshs.)

Minimum Deposits

Contribution ( Kshs.)

Nil (Members Without Loans)

1,500.00

Up to 750,000

1,500.00

750,001 -1,000,000

2,500.00

1,000,001 -2,000,000

3,000.00

Over two Million

3,500.00

New members’ first contribution of Kshs.2,760.00 has been reviewed to Kshs.2,100.00. This contribution will be maintained until the minimum contribution requirements pertaining to Bylaws, Share Capital and Insurance contribution are attained. Only then can a new member adjust the minimum contribution Kshs.1,500.00 that is pegged to members without loans.

This is effective September 2024.

Kind regards,

Philip Muchiri
Hon. Secretary