Salary Processing Account:
Values of channelling salary through Shirika Fosa:
- Member can apply salary advance upto 60% with interest of 5% recovered one off when salary is received:
- Short term loan with repayment period of 3 and 6 months.
- FOSA loan with repayment period of 60 at an interest rate of 1.5% reducing balance per month.
- Once we receive the schedule, we pay the member even as we wait for the employer to pay us.
- Should you not have M-banking or ATM Card (Sacco-link) You will need to apply together with salary processing form to improve convenience
For members who are TSC have a different salary channelling form where they will need to fill and attach a copy of Sacco link ATM card and ID as per the requirement of TSC.
For other non TSC members there is an alternative salary channelling form to be filled and where necessary, the employer may ask for ATM Sacco link card copy and employers form, the society will ask you to provide.