you are a permanent employee in one of the affiliates Employer Companies of
Kentours Sacco Ltd.
qualifies to join Kentours Sacco Society Ltd from the affiliate Employer
person shall be eligible for membership if he has the following qualifications:
Is an ordinary resident in
Is more than 18 years of
Has not been convicted of a
criminal offence involving fraud or dishonesty.
Is not a member of any
similar savings and credit co-operatives Society during the tenure of his
Is within the hospitality
industry and any other reputable company or organization, spouse(s) and
children who are over 18 years of already existing member.
Is not directly or
indirectly, a money lender or carrying out such activities detrimental to the
objectives of the SACCO.
Is of good character.
How Do I join if I qualify?
Fill in a membership
application form that can be collected from the SACCO office, or a Unit
Representative in the various institutions, or can also be downloaded from the
website. Attach a recent passport size photo (2 Copies), a copy of national ID
or passport. Once the form is filled it is passed on to the SACCO’s office or
presented to the Unit Representative with the relevant attachments.
How much is the minimum and maximum contribution I can make towards the monthly Deposits/Savings?
member can contribute as low as Kshs. 1,000 and there is no limit to the
maximum amount that can be contributed.
How much is the minimum and maximum contribution I can make towards the Share Capital?
Members are required to
contribute a minimum amount as share capital (Kshs 5,000) which is not
refundable. This can be remitted in 25 months instalments of Kshs 200. Dividends
may be paid on share Capital, but interest will be paid to a member based on
the deposits held with the SACCO. Members’ deposits will be refunded only upon
leaving the SACCO.
Can Increase or reduce my monthly contributions?
Yes, by filling in an
adjustment form and pass it to the office or to your Unit representative. The
form can also be downloaded from the Website.
If I leave employment can I continue to be a member?
Yes, so long as all the monthly
contributions (deposits and also loan repayments where relevant) are made on
What are my rights as a member?
To attend the Annual General Meeting.
To vote at the Annual General Meeting where each member has one vote
To be elected
To receive dividends
To apply and get a loan
To receive services offered by the society
Establish minimum qualification standards for the Supervisory
Advise the committee on items of interest.
Review the statements of accounts.
Approve the operating budget.
Set the maximum borrowing power of the Sacco.
Approve the share dividend rate.
What are my duties as a member of the SACCO?
2Among others the following:
a) To observe the society By-laws
b) To repay the loan
c) To help recruit new members
d) To attend Education days and Annual General Meetings
e) To be loyal and remain true to the society.
How do I resign from the SACCO?
A member can resign from the
SACCO in writing addressed to the Manager or the Chairman. Then the office will
confirm if there are any amounts due to the member or whether the member owes
the SACCO. If a member owes the SACCO (when the loan exceeds the deposit) then
the member agrees with the office on how the balance can be paid. If the SACCO
owes the member (deposit exceed loan) then the SACCO organizes for the refund.
If a resigned member has guaranteed an existing member then the existing member
has to find a guarantor replacement before the resigned member can be cleared.
As a member how many loans am I entitled to and
what is the maximum amount?
The SACCO provides several types of loans as tabulated below.
Amount in Kshs.
Repayment Period in Months
Rate Per Month
Super School Fees Loan
Home Appliance Loan
School Fees Loan
Bank Loan Bailout
Bank Loan Bailout
What do I do if I require a loan?
A member can pick the loan
application form from the office or from a Unit representative or download from
the SACCO website. If filled correctly and approved by the Human Resource and Accounts
department, it is delivered to the SACCO office or passed on to the Unit
How long do I wait for my loan to be approved?
All loans except the Normal, Premium, Housing and Bank Loan Bailout are processed within 48 working hours while the other are processed within 7 working days.
Can I offset a loan with part or all my deposit?
Not allowed because it is like refunding a member their deposit. A refund of deposit is only done on termination of membership.
Can I apply for another loan if am still servicing one?
Yes, as long as you meet the 3 times factor of your deposits threshold, you are capable of repaying all your loans and you meet the 2/3 rule you can take as many products as you wish.
Can I increase my deposit and apply for a new loan or pay off a loan and apply for another one immediately?
Yes. For increases in deposits from the payroll. But outside the payroll, the lumpsum amount paid must be with the Sacco for at least 6 months in order for the member to get the 3 times factor on the deposits.
How many members can guarantee my loan and
who can guarantee?
Members can guarantee any type of loan. Any member can also guarantee a loan as long as it is a member of the SACCO and has got free deposits available to guarantee other members.
Note: Please on Guarantorship:
1. It is important to understand that when you guarantee a loan to another member of the SACCO you are responsible for your part and also for the whole of the loan when the member is in default.
2. It is the responsibility of the members who have guaranteed a member to ensure that the member pays the loan especially if the member leaves employment with an affiliate employer unit.
3. If a member defaults, the SACCO will recover the loan from the guarantors’ deposits and the guarantors can seek legal redress and/or file a case with the Cooperative tribunal.
If I clear a loan before its completion period, will
I be required to pay interest for the future/remaining period?
No interest or penalty is charged for clearing a loan earlier than the contracted period.
What do I need to do when withdrawing from the society?
The following are the steps to follow: • A Member need to write a resignation Letter to the Manager or Chairman of the Sacco. A notice of sixty days (60) is required in case of any refunds due to the member. • A member then needs to fill a clearance form. • A member needs to inform all members he has guaranteed to seek an alternative guarantor. • Refunds will only be paid to the member after all guarantors have been replaced.