Savings Products
TYPES OF SAVING PRODUCTS
Shares Capital
- This is a unit of ownership of the SACCO and members earn dividends on the same annually when declared.
- The SACCO declared 18% dividends for the year 2023 and 17% for 2024.
- The share capital is not withdraw-able but can be sold or transferred to another willing member.
- Minimum share capital is ksh 20,000.
Deposits
- These are savings made to the SACCO by the members and are non-withdrawable except, upon termination of membership or upon loss of a member.
- The minimum monthly savings is kshs 3,000.
- The SACCO declared interest on deposits of 6% and 6% for 2023 and 2024 respectively.
Prime Account
- This is a transactional account that provides 24/7 access to your funds.
- You can access the account through mobile banking (USSD *346# & Barabara Sacco App)