How do members pay their monthly contributions?
- We make arrangements with their companies to deduct the members’ contributions from their salary and transfer the total collections into our account as lump sum.
- Through Bank Stop-Orders
- Cash deposit to our various Bank accounts
Savings Products include:
Statutory savings with a minimum contribution of E200.00 monthly, none withdraw able.
Withdraw able savings with a minimum contribution of E50.00 monthly.
Specifically for children below 18 years, withdrawable at 18 years, minimum of E50.00 monthly.
– This account is designed to create an opportunity for members to save for tertiary needs or provide any financial base for their children.
– Withdrawal is only allowed, when a child attains the age 18 years.
– The minimum monthly contribution on these account is E50.00 per child.
– Interest on this account is re-invested to grow the investment.
– Parents can make deposits into this account on behalf of the account holder.
Minimum of E10 000.00 for a period of 5 years, annually interest of 10%. Interested is re-invested.
It is designed to create an opportunity for members to save for their future projects. Minimum contribution is E10 000.00 for a period of 5 years, annually interest of 10%. Interested is re-invested.
Members who had reached 45yrs are entitled to save for their retirement, non-withdrawable savings minimum contribution of E200.00 monthly.
This account has been introduced to help members makes investment towards retirement. members who had reached 45yrs are compulsory to save for their retirement, non-withdrawable savings minimum contribution of E200.00 monthly. Interest is calculated annually @9%.
Contract savings with a minimum of E100, savings are withdrawable after contract has expired or matured. Minimum of the contract is 24 months and interest is calculated quarterly, interest re-invested.
This savings product is a withdrawable deposit account, where depositors can place short-term deposits for a minimum period of 24 months to 60 months. A minimum deposit of E100, savings are withdrawable after contract has elapsed or matured. interest is calculated quarterly @7.5% and interest re-invested to grow the fund. Upon maturity the member can roll over the principal together with the interest or collect interest and rollover the principal only.