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Other fosa services

Personal Account:

Is a current account where members can access loan given, refunds and other transactions. It is linked to the ATM and M-banking services.

Salary Processing Account:

Salary processing  is a facility for members who channel their salary through the FOSA. The Sacco charges a commission of 100/= for processing. The members can access their salary using Sacco link ATM card and  M-banking application or over the counter.

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 1.08% 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

Requirement for processing Salary through FOSA

  • Filled salary processing form
  • Bank clearance from the previous bank
  • Copy of Sacco-link card
  • Filled TSC bank form (for tsc members)
  • Copy of your ID card