Sacco Membership

Become a Member

Member Deposits (Non- withdrawable shares)

These deposits may be used as collateral against borrowings from the Society and shall only be refunded when a member withdraws from membership and provided the member has fully repaid all his debts and is free from guarantee. Deposits may however be transferable from one deposit account to another provided the transaction does not contravene the Savings policy. Non-withdrawable deposits shall be contributed on a monthly basis. Non-withdrawable deposits shall be refundable within sixty days after receiving a written notification from the member. Interest on deposits shall be paid at a rate that shall be determined by the board at the end of the year after audit has been completed.

Capital Shares

Each member shall purchase at least a hundred (100) shares of Ksh.100 each. Shares shall not be refundable or assignable as collateral for a loan, but a member may transfer his shares to other members on leaving membership of the Society. Shares may earn dividends paid from net surplus after required transfers to reserves at the end of a financial year in accordance with the dividend policy of the Society.

Become a Member of the Universal Traders Sacco