United Women Sacco is one of the best Saccos to join in Kenya. Below are details about how to join the Sacco, loan products, savings products and customer care contacts:

How to Join?

• 1.Complete application form for vetting by the Board.
• 2.Complete a beneficiary nomination form
• 3.Provide a copy of ID or Valid Passport
• 4.Provide a copy of KRA PIN Certificate.
• 5.Provide a colored passport size photograph
• 6.Make an initial contribution of at least Kshs. 27,000, consisting of;
  • Non- refundable registration fee of Kshs. 2,000
  • Share Capital of Kshs. 20,000 – This refers to the amount paid by the members as a unit ownership in the Sacco. The amount is not withdrawable even if one ceases to be a member. It can only be transferred to another member of the Sacco at nominal value.
  • Initial minimum deposit of Kshs. 5,000 toward your savings.

After Joining

• 1.Maintain membership by contributing a minimum of Kshs. 5,000 each month.
• 2.According to the Sacco by-laws, partial withdrawal of funds is not allowed. A member can only access their funds through borrowing or termination of membership.

Member Cessation

In case a member wants to terminate membership, the procedure is as follows:

• 1.A member must give written notice.
• 2.Fill in an exit questionnaire form
• 3.No member shall be allowed to withdraw from the Sacco membership unless:
  i. All loans have been repaid in full.
  ii. Any prior guarantee to other members has been fully replaced before termination.
• 4.Member can choose to retain their share capital in the Sacco which can be transferred to their new account in case they rejoin or they can transfer it to another Sacco member at nominal value.
• 5.Refund of share deposits is done after 60 days

United Women Sacco Savings Products

Member Deposits

The United Women Sacco promotes a culture of saving by providing members with an opportunity to accumulate deposits.

These deposits will enable you access most of our loan products which are offered at affordable interest rates.

A member is also guaranteed interest on their deposits annually.

Junior Account

Features

• Opened for a child below 18 years
• The member retains full control of the deposits until the junior is 18 years when the funds shall be converted to Sacco deposits.
• The member can utilize the Junior deposits as collateral to secure a loan.
• Maintain the account by depositing Kshs. 2,000 monthly
• A member can withdraw funds from this account once at the end of every quarter provided a withdrawal notice is given i.e. end of March, June, September and December respectively
• The account earns interest annually. Interest rates are dependent on the
  Sacco’s performance every year

Note: If these funds are held as a guarantee, the member cannot withdraw from this account unless an alternative security/guarantee is provided.

Requirements

Complete an application form

Provide a copy of their birth certificate

Provide one passport size photograph

Pay a minimum deposit of Kshs.2,000

Note: When a child attains the age of 18 years, the account is converted to the main membership account.

Holiday Savings Account

• Minimum balance of Kshs. 5,000 to open and operate the account monthly
• The member can utilize his/her holiday account as collateral to secure a loan.
• A member can withdraw funds from this account once at the end of every quarter provided a withdrawal notice is given i.e. end of March, June, September and December respectively
• The account earns interest annually. Interest rates are dependent on the
  Sacco’s performance every year

Note: If these funds are held as guarantee, the member cannot withdraw from this account unless alternative security/guarantee is provided.

Loan Products

Member Loan Eligibility

To qualify for a loan, a member shall;

Have completed at least 6 months of membership and contributed not less than Kshs.100,000

Ensure contributions have been consistent for at least 3 months prior to the loan application

Ensure that shares contributed in lump sum for the purpose of taking a loan have been in the society for at least 3 months

Demonstrate ability to repay the loan

Other Considerations

A member who withdraws from the society and rejoins later will be treated as a new member for the purpose of the lending policy.

A member who transfers shares from another society will only be eligible for a loan after 3 months.

The rates of interest on certain loan category shall be determined by the Board of Directors from time to time.

All loans shall be insured by a reputable insurance company against death or permanent disability.

Normal Loan

Interest is charged at 1% per month on reducing balance.

Repayment terms are for a maximum of 120 months depending on the loan amount as indicated below;

LOAN AMOUNT (Kshs.)	MAXIMUM LOAN TERM
Up to 100,000	12 Months
100,001 to 250,000	24 Months
250,001 to 500,000	36 Months
500,001 to 999,999	48 Months
1,000,000 to 4,999,999	60 Months
5,000,000 to 6,999,999	72 Months
7,000,000 to 9,999,999	84 Months
10,000,000 -to11,999,999	96 Months
12,000,000 and above	120 Months

Business Development Loan

Given up to 5 times a member’s share deposits up to Kshs. 40million

Interest rate of 1% per month on reducing balance.

Repayment terms are for a maximum of 120 months depending on the loan amount as indicated below;

LOAN AMOUNT (Kshs.)	MAXIMUM LOAN TERM
Up to 100,000	12 Months
100,001 to 250,000	24 Months
250,001 to 500,000	36 Months
500,001 to 999,999	48 Months
1,000,000 to 4,999,999	60 Months
5,000,000 to 6,999,999	72 Months
7,000,000 to 9,999,999	84 Months
10,000,000 -to11,999,999	96 Months
12,000,000 and above	120 Months

Asset Financing Loan

Not pegged to members deposits

Maximum loan amount of Kshs.7,000,000

Repayment term depends on the asset

The Asset shall be used as collateral for the loan.

There are two types of asset loans;

Emergency Loan

Maximum repayment term of 12 months

Interest charged at 1% per month on reducing balance

A member can take one emergency loan at a time

Based on member qualification

School Fees Loan

Maximum repayment term of 12 months

Interest charged at 1% per month on reducing balance

A member can take one school fees loan at a time

Live and Own Product

Designed to assist members own a house at very affordable terms.

To qualify for the loan:

• One must be a member for at least 6 months
• Amount saved to be a multiplier of 8
• Demonstrate ability to repay the loan
• We shall follow the Sacco security perfection process
• Repayment Period is 180 months (15yrs) up to a maximum age of 65 years
• Interest Rate is 1% per month on reducing balance
• Maximum loan amount of Kshs. 6 million

No Questions Asked Loan

Maximum repayment term of 3 months

Interest charged at 2% flat rate per month

Post dated cheques must be presented on loan issuance

Maximum loan amount of Kes.200,000

Platinum Loan Product

To qualify for the loan;

Member must have share deposits of Kshs. 8 million and above.

A member can apply for this loan up to five (5) times their deposits.

Maximum loan amount is Kshs. 40 million.

Maximum repayment period is 10 years.

Loan interest is charged at 1% per month on reducing balance.

A property must be used as security for the loan and a charge document will be prepared by the Sacco’s recommended lawyers for execution by the borrower.

In addition to the Charge, a Deed of Rental Assignment, where applicable, will be prepared by the Sacco’s recommended lawyers for execution by the borrower and registered against the asset.

The security will be urban property or as will be directed by the Board from time to time. Valuation shall be done by Sacco-recommended valuer at member’s cost.

Loan Refinance

Member shall ensure that the payment of the current loan is on schedule as per the repayment schedule.

Repayment of the current loan shall have been made for at least six (6) months.

Member shall demonstrate ability to repay the total loan i.e. the current loan and the additional loan amounts.

A member shall complete a new loan application form.

A member has the following refinance options subject to approval by the Management Committee:

If Member has paid	Time Extension	Refinance (Topping up) Fee – charged on existing loan balance
50% of Original Loan	Yes	1%
Less than 50% of Original Loan	Yes	2%

A loan refinance within member deposits will not attract a refinance fee.

Loan Security and Guarantee

All loans must be fully secured by either members’ deposits or one or more of the following if the loan exceeds member’s deposits;

Guarantors

Motor Vehicle- up to 50% of the current value

Money market funds held by reputable funds managers

Tangible assets –those located in urban areas up to 75% of the current market value

Shares trading at Nairobi Security Exchange- Up to 50% of the current market value

United Women Sacco Payment Methods

Mpesa

1. Via Mpesa

– Go to the M-pesa Menu

– Select Lipa na M-pesa

– Select Pay Bill

– Enter Business Number 994300

– Under Account Number– Enter Your Membership Number

Cooperative Bank

2. Bank Accounts

Bank Name: Co-operative Bank

Account Name: United Women Sacco

Branch: Greenhouse Mall

Account No. 01100069485300

Swift Code: KC00KENA

KCB Bank

Bank Name: Kenya Commercial Bank

Account Name: United Women Sacco

Branch: Prestige Plaza

Account No: 1105492753

Swift Code: KCBLKENX

Equity Bank

Bank Name: Equity Bank

Account Name: United Women Cooperative Savings and Credit Society Limited

Branch: Enterprise Road

Account No: 0800283668372

Remember to indicate your membership number when making payments to our bank accounts.

A member can submit the deposit slips to our office, scan to info@unitedwomensacco.co.ke or forward through What’s App Line 0742-885000

DIASPORA SECTION

• Step 1.DOWNLOAD THE SEND WAVE APP ON YOUR PHONE
• Step 2.GO TO RECIPIENTS
• Step 3.ADD NEW BANK RECIPIENT (United Women Sacco)
• Step 4.ENTER OUR BANK DETAILS Bank Name: Co-operative Bank Account Number: 01100069485300
• Step 5.SAVE

After the above registration, when you want to send money you will choose United Women Sacco as the recipient then it will automatically generate the details. Kindly ensure that you send us the receipt you receive after the payment via email. This is important because send wave does not capture the remitter details in the transaction.

United Women Sacco Customer Care Contacts

The Greenhouse Mall, Adams Arcade- Ngong Road, Second Floor Suite 3 & 12.

• Info@unitedwomensacco.co.ke
• +254711660129
• 0713 075 617
• 0742-885000

WORKING HOURS

Monday – Thursday 8:00am to 5:00pm
Friday 8:00am to 4:30pm