The Board of Directors of Unashig Kenya PLC is pleased to invite the company's shareholders as well as all UoN employees and other Kenyans elsewhere to join us in our quest to be participants in Safaricom Sacco's journey toward a more prosperous future. Please find via the link below the basic information that you need join Safaricom Sacco through Unashig. Please find via the link below authoritative and detailed information under 'one roof' about what it takes to join Safaricom Sacco through Unashig:
The first point we wish to reiterate is that our idea of Unashig Kenya PLC -- focusing from the beginning on both Health & Wealth -- links seamlessly with Safaricom Sacco's own vision and mission. With Safaricom Sacco, it is all about grouping together to help participants build the future that they aspire to reach. . and have.
This is what Safaricom Sacco Does:
1) It offers various kinds of loans; Development Loans, Premium Loans (for Health Insurance, etc), Car Loans, and Asset Finance Loans.
2) It admits Corporates, Individuals who are unattached to any organization, and Individuals who are Members and/or Employees of its Corporate Members. Indeed, membership applications by individuals are expected to pass through the Organizations in which they are currently members. Thus, it is envisaged that Unashig Members-cum-shareholders will benefit by joining the Sacco directly through Unashig Kenya PLC. The added benefit here is that they would find it easier to get guarantors among participating Unashig Members. As an organization, however, it will be imprudent to act as a guarantor for any Member -- and inadmissible to ask Members to be Unashig's guarantors.
Here are the various requirements and charges levied by Safaricom Sacco:
A) Safaricom Sacco's Membership Requirements/Charges For Individuals Seeking to Join It:
1) One-off Membership (Application) Fee: 1,000/-
2) Minimum Monthly Deposit (of share capital?): 3,000/-
3) Minimum Share Capital = 400 shares @ 100/- = 40,000/-
[This share capital should be paid within 12 months; that is, at the average monthly rate of 3,334/-. We will seek to find out if Monthly Deposit and Share Capital refer to the same or different obligations]
4) CRB Report (for each participating individual).
5) Qualification for a loan is met after 6 months of consistent savings (i.e. Minimum Monthly Deposit or Share Capital???) for long-term loans, and 3 months for short-term loans [ We are still to confirm how long-term and short-term loans are defined here].
6) One can make monthly contributions to Safaricom Sacco through various direct channels: Standing Orders, Payroll deductions, cheques, over-the-counter bank deposits, or M-Pesa. [Note: No payment whatsoever will be made by individual Members through Unashig Kenya PLC]
B) Safaricom Sacco's Membership Requirements/Charges For Corporates/Organizations Seeking to Join It:
1) One-off Membership (Application) Fee: 2,000/-
2) FOSA Monthly Deposit (Minimum): 5,000/-
[Minimum A/C Balance = 5,000/-]
3) Minimum Shareholding = 20,000/-
4) Loan Eligibility for registered companies, Chamas and Investment Groups = Up to KES 3 Million.
Finally, and in view of the foregoing, the Board of Unashig Kenya PLC on March 22nd, 2023 approved the following requirements for Members or any other individuals or organizations who may seek to join Safaricom Sacco through Unashig Kenya PLC:
a) Pay Unashig a one-off charge of KES1,500/- for Safaricom Sacco Membership Processing.
b) Own or purchase at least three (3) Unashig Shares -- that is CA and/or CB shares, depending on their Unashig Membership eligibility. The minimum number of shares required may change from time to time, as the Board may determine. Those who are buying three Unashig shares to become Unashig Members will in addition pay the current one-off Unashig Membership processing fee of KES1,500/-.
PERTINENT QUESTIONS & ANSWERS:
1. Is Unashig going to admit or recruit members from outside the UoN into Unashig Kenya PLC?
A: 1) Yes, individuals who are not UoN employees are eligible to join Safaricom Sacco through Unashig, and then participate directly in the Sacco's investment activities, such as: buying land or other property (including completed housing) for one's family. They can also borrow directly from the Sacco to buy a car or pay for the car's annual insurance premium. Indeed, Unashig already has a sizeable number of shareholders who are not employees of the UoN -- and who are already participating in the Old Mutual group insurance scheme through Unashig.
Q 2. Will we also admit UoN Dons or any other individuals who have no insurance cover through Unashig?
ANS Yes, we will soon start marketing this opportunity among current Unashig Members as well as those who are not yet Members. Furthermore, Unashig Members are free to encourage anyone they know to join the Sacco. All that Unashig is allowed to do is to officially forward their details so that their Membership is linked to Unashig in Safaricom Sacco's records. IMPORTANTLY: All payments and deposits to the Sacco will be made directly by individual Members to designated Safaricom Sacco.
However, those who join through Unashig will be required to own at least 3 Unashig shares at the going rate, and pay a one-off Unashig Membership fee of KES1,500/-. As is the practice already, these two payments are made to Unashig.
All individuals who wish to join Safaricom Sacco through Unashig will have their details forwarded by Unashig -- as is required by Safaricom Sacco.
For further info, please call:
1) +254 721 931219
2) +254 754 016462
Or Send Email To:
-- unashig.kenya@gmail.com
