A. Share Capital
Share capital is the amount of money that Shirika DT SACCO members contribute and invest in the company and allows them have equity of ownership in the Sacco. The minimum share capital in Shirika DT SACCO is Ksh. 25,000.
Members can deposit this amount at once or grow it over time through monthly contributions. Share capital earns annual returns called dividends. Shirika DT SACCO pays dividends at a very competitive rates nationally in the industry. The maximum share capital one can possess is 20% of the total society’s share capital. Share capital is not withdrawable but is transferable to another Sacco member upon exit of membership.
B. Deposits
Deposits contribution refers to money that members put on a monthly basis to their deposits account held with us.
- These deposits are not withdrawable over the counter unless the member chooses to exit the Sacco.
- Deposits have may benefits which include: Borrowing against them; they allow members guarantee one another when getting loans; earn annual returns called interests; they are member savings invested in the society which can be accessed in the future.
- The minimum monthly deposit contribution as per the Sacco policy for checkoff members.
- For non-check off members, a minimum of Ksh 1000 deposits applies. Any member with a loan below Ksh 1 Million, minimum contribution is Ksh 3000 and for non-check off members with loans above Ksh 1 Million the minimum deposit contribution is Ksh 5000.
- Shirika DT SACCO also pays competitive interests rates on deposits as a return on members’ investments.
- Shirika DT SACCO grants loans as multiplier of the member deposits held with us.
C. Burial Benevolent Fund (BBF)
This is a mandatory deduction of Ksh300 for all our members on a monthly basis with the following benefits:
The amount is only payable to the declared beneficiaries hence we request the members to keep on updating the forms. Members are encouraged to fill the spouse and children form available under downloads routinely on change of status. The form is also available on the membership registration form
