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Frequently Ask Questions

FAQs

Have a look at list of our most popular Frequently asked questions & answers:

By visiting any of our existing branches with your ID card,1 passport photo and Ksh. 200 /= for membership (2 shares@100/=) you can open an account and begin banking with us.

Any Kenyan can join us as an individual, business, investment group or as a company.

Not necessarily. You can provide collateral to cover for the loan. Among acceptable collateral include Title Deeds, Car Logbooks, Chartells etc.

Yes, our branch is fully networked and integrated.

Consistent saving for a minimum of three(3) months qualifies for credit in the Society.

A member can access any loan product as long as he/she qualifies for the product and has the ability to service the loan.

FOSA deposits are regulated and monitored by The Sacco Societies Regulatory Authority (SASRA) which operates in the same way as the Central Bank of Kenya (CBK) with the commercial banks. The SACCO submits monthly reports and is audited regularly to ensure compliance and safety of member deposits. The Board and Management are Managing the Sacco as per the Co-operative societies ACT, Rules and Sacco bylaws. The Sacco has implemented the use of Corporate Governance and Code of Ethics hence stability is guaranteed. The Sacco also holds AGM’S yearly where reports and accounts are presented to the members

Fully completed loan application form, sufficient number of guarantors (depends on loan type), employee payslips (past 3 months), a copy of National ID, proof of active membership for at least three months

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