• Registration fee is KES.500 payable once

• At the end of every financial year, returns are earned inform of Dividends on shares or Interest on deposits.

• A member becomes eligible for loan after a minimum period of six (6) months of active membership.
• Those transferring deposits from other Saccos are eligible for a loan within a month.

• Loan applications must be on the original serialized loan application form duly completed. Copy of an acceptable form of identification (National ID/Valid Passport), at least three guarantors whose deposits guaranteed should be equivalent to loan amount, copies of identification cards of guarantors, two endorsed recent months payslips for employees or bank statement for faithful’s, MUST be attached to the application.

• The maximum loan entitlement for all loans shall not exceed four (4) times of the member’s deposits.
• FOSA credit products are also subjected to a member deposit contribution and the applicant must retain 30% of their net salary or average monthly deposits into FOSA account.

A member can access one development loan, emergency and School fees as well as a top up loan.

Development Loans

The maximum loan entitlement is four (4) times of the member’s deposits, considering deposits boosting, repayable in 72 months, at interest rate of 1% and secured with acceptable securities.

School Fees

1. Currently, there is no limit on how much one can apply for the school fees loan.
2. The upper limit for the school fees is KES.500,000.00
3. Repayable within 12 months.
4. Turnaround time is 12 hours.
5. Must be secured by allowable securities or other members.
6. The interest rate is 1% reducing balance basis.

 Emergency Loan

1. The emergency loan capped to KES.100,000.00 Repayable within 12 months.
2. Turnaround time is 6 hours.
3. Must be secured by allowable securities or other members.
4. Interest rate is 1% reducing balance basis.

Mazao Loan

1. This loan taken on dividend received previous year.
2. Interest rate 10% upfront
3. Loan recovered from Dividend.

Loan Restructuring

1. The Loan merges several loan products into one product
2. Commission of 10% charged on the extra funds.
3. The maximum limit shall be four times ones saving subject to the society’s approved limit.
4. The interest chargeable shall be 13%pa.
5. The product shall not be charged Bridging commission.
6. The term of the loan shall be 72 months.
7. The loan shall be fully secured by acceptable securities or guarantors who exhibit adequate deposits and past good loan repayment.
8. The loan balances held by the borrower prior to the approval shall not be charged Bridging commission but will form part of the

TOP -UP Loan

1. The maximum accessible by a member is four (4) times their deposits less any existing Loan balances.
2. The loan to be repaid within the remaining period of the original development loan.
3. Members to qualify for a TOP-UP loan after six months of consistent repayment of the original development loan and without any arrears on any loans being serviced.
4. The loan to be secured by new guarantors or un-utilized value of collateral or new collateral
5. Share capital shall not be considered as a multiplier but a member must have attained the minimum share capital.

Mjengo Loan

1. Mjengo loan is a long-term loan developed to enable members acquires or build homes.
2. 2 Maximum loan granted is KES.3,000,000.00 with a maximum repayment period of 15years.
3. Security for the loan is Title Deed/s
4. The interest chargeable shall be 14%pa.

 Waumini Cash

1. Waumini cash is our mobile loan facility borrowed and repaid through mobile phone.
2. The minimum deposits that one must have to access this product is KES.20,000.00
3. Minimum Membership period for one to qualify for this loan is 3 Months.
4. A member can only have one running Waumini Cash Loan at any given time.
5. The minimum cash limit shall be KES.2,000.00 and a maximum limit of 15,000.00

The limit to graduate /increase based on the performance –as follows:

1. 1st time borrowers to get a maximum Amount of KES.5,000.00
2. Borrower escalates to tier 2 with maximum limit of KES.10,000,00 after good repayment history of 5 times amount taken within 6 months.
3. Borrower graduates to tier 3 of maximum amount of KES.15,000.00 after good repayment history of 8 times amount taken within a period of not less than 9 months.
4. The repayment period to be amortized monthly for a period of three months. Interest rate is 10% payable upfront.

• Yes, this is possible. This can be done by standing order, Mpesa pay bill, pay at the FOSA banking hall or at any of our bank accounts.

1. Emergency loans repaid by maximum period of 12 months.
2. Development loans are repaid by a maximum period of 72 months.
3. Mjengo loan repayment is 15 Years.
4. FOSA loans repayment is 36 months.

All loans granted by the Sacco must be secured by any of the below: –

1. Guarantors in which case guarantors’ deposits MUST be equal to or more than the loan applied
2. Own deposits when loan is less/equal to deposits one who has not guaranteed any other loan could self-guarantee but have to state in writing. (95% in case of self-guarantee)
3. Land Collaterals 70% of value in urban areas and 50% for agricultural land
4. 50% market value of NSE listed shares.
5. Treasury bonds.
6. Motor Vehicle collateral up to 50% market value of a motor vehicle.

• Amount of loan
• Loan repayment period
• Applicants contact details
• Any other details relating to the applicant’s ability to repay including the source of income.

• Yes, lump sum payment amount towards clearing/reducing their loans is acceptable at no extra charge.

• No, this is not possible, but loan rescheduling can be done under special circumstances but within the loan period.

1. Deposits are the regular member contributions that determine loan eligibility. Deposits cannot be partially or fully withdrawn or refunded without loss of membership. Member rejoining membership be required to pay membership fee and will be treated as new members.
2. Share Capital is member contribution that is their portion of the Sacco ownership. Share capital is not factored for loan eligibility, cannot be refunded but is transferable only when one seizes to be a member.

• Yes, a member can transfer their deposits to another member at the point they cease to be members of the Sacco.

• Yes, membership continues after leaving Catholic institution employment.
• Remittances and contributions done through.

1. Deposits into Waumini Sacco’s bank Accounts
   • KCB
   • Waumini Sacco society ltd.
   • Sarit Center Branch.
2. Cooperative bank
   • Waumini Sacco Society ltd.
   • Westland’s Branch.
3. Equity Bank
   • Waumini Sacco Society ltd.
   • Equity Bank Westland’s, Branch
   • Account No. 0550299932764.
   • Members must indicate their membership numbers.
4. M-pesa

Select Safaricom from the main menu

Select Mpesa

Go to Pay Bill

Enter Waumini business No. as 700100

Enter Account no. which is Sacco membership no. followed by the transaction Code e.g., 12345D for deposit or 12345DL for development loan.

The Transaction code are D-Deposit, S-Share Capital, Loans DL–Development, RES–Restructuring, SEL-Self guaranteed, LOY–Loyalty EL-Emergency, INST-Instant, CHP – chapaa, WAU –

Enter MPESA pin and Transmit wait for confirmation.

5. Equitel

Open Equitel app(Must be having Equity bank account)

Pay bill Number (Enter No. 700100- Waumini Sacco name will be shown)

Enter Bill Account Number (Member to put their members numbers)

Enter amount and PIN to complete the transactions.

6.  Direct Cash /Cheque deposits in Waumini Sacco- Fosa bank in Westlands and Nakuru Branch

• Mobile Banking is a fast, easy, and secure way of accessing your account 24 hours a day, 7 days a week from wherever you are.
• It allows you to transact (bank, withdraw, balance enquiry, transfer funds etc) without having to visit our offices physically, anytime, anywhere.

• The Sacco’s are regulated by SASRA (Sacco Society Regulatory Authority), the Sacco has however since its inception endeavored to provide members with affordable lending rate while giving them competitive returns on their savings and deposit in line with the cooperatives societies principles of equity geared towards promotion of members social economic interest.

1. You change your personal details by filling member information change card and advising our office to effect the changes accordingly. For change of next of kin, complete and submit the nomination of next of kin forms. The form must be duly signed, witnessed, and accompanied by a copy of national ID.
2. For change of telephone number attach Mpesa statements for the last six Months for the new number for Safaricom and for Airtel attach Airtel Money statements for the last six Months.
3. For change of name attach supporting documentation such as a marriage certificate.

• The Branches are networked; information is available across the Branches.

• We have Pamoja Account which is a savings account for groups. Group members should be 5-15 people and members of the Sacco, if not all, at least the officials must be members.

• Category B Membership is Co-operate Account. These are Catholic Institutions who join membership and open Institution Accounts for purpose of saving and credit facilities in order to develop their Institutions.

• Waumini Housing Cooperative Society was registered on was registered on the 10th of March 2017. This will be the main arm that will handle housing investments which Waumini Sacco was not able to engage in due to regulatory limitations.

• Waumini Sacco members are eligible to join upon acquiring full registration which entails a registration fee of KES. 1,000 and purchase a minimum of 300 shares valued at KES. 100 each; totaling to KES. 30,000.00. Registration forms can be accessed from all our outlets, i.e., Head Office in Apple Wood Adams, Adams Arcade, Westlands Branch, Kisii and Nakuru Branches and Rongai Liaison office.

1. Waumini Head office is at Applewood Adams, 2^nd Floor, Ngong Rd.
2. FOSA in Westlands remains a Branch, providing all services.

1. FOSA stands for Front Office Services Activity. Funds in FOSA are withdrawable anytime depending on the type of savings account.
2. You can operate your FOSA just like any other “Bank” account. Process your salary, Make deposits to your account via M-PESA or direct funds transfer, or over the