This program encourages members to continue saving with us even after retirement

Features

  • Retirees: Members retiring from formal employment are encouraged to continue with membership.
  • Pension: Retiring members are encouraged to channel their pension trough Harambee Sacco FOSA account.
  • Credit facility: The retiring members can continue getting loans using their pension or other incomes.
  • Deposits and Benevolent Cover: Monthly deposits contributions are Kshs 1,000/- and sink is Kshs 300/-
  • Collection Methods: Wafanisi members are required to make their monthly contributions plus loan repayments through standing order/ debit order or by cash.
  • Guarantor ship and loan multiplier: They can also get a loan X3 or X4 of their deposits , if they get guarantors who are on payroll. Required to attach 6 months Bank Statement and place FOSA standing order or Bank debit order / standing order when applying for loans
  • Self-Guarantee: They can get loans up to 90 % of their savings, without guarantors if they have not guaranteed any loans
  • Exit interviews for exiting members Customer service staff carry out exit interviews with members who intend to exit the Sacco and encourage them not to exit but offer then alternative financial solutions.