Dear Members,
RE: COMPLIANCE WITH UNCLAIMED FINANCIAL ASSETS REGULATIONS
Further to our circular dated 11th May 2021, and pursuant to the provisions of The Unclaimed Financial Assets Act and the Sacco Societies Act, we wish to advise as follows:

  1. Uncollected Dividends/Interest on Deposits
Those amounts that have been outstanding for 3 years or more and will not have been claimed by 30th September 2022 will be surrendered to the Unclaimed Financial Assets Authority (UFAA).

     2. Unidentified Bank Deposits and Savings/Deposits for Dormant Members

Those amounts that have been outstanding for 5 years or more and will not have been claimed by 30th September 2022 will be surrendered to the UFAA.

3. Unallocated Funds or Overpayments by Active Members
Any amounts that have been outstanding for 3 months or more and will not have been claimed by 30th September 2022 will be allocated at the Sacco’s discretion and without further notice, with priority given to any outstanding loans/interest.
The above information can be confirmed from Members Statements or Web Portal.
You may also contact the Sacco office for any clarification.
Thank you.
Philip Muchiri
Hon Secretary

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