Faq

  • Membership is open to all.
  • Credit facilities are open to all members of the SACCO.
  • Upon contributing deposits regularly for 6 consecutive months, one qualifies for BOSA loans.
  • Upon receiving first salary through FOSA, one qualifies for FOSA loans and advances.
  • Upon contributing savings for 3 consecutive months, one qualifies for MCU loans.
  • Upon contributing savings for 6 consecutive months, one qualifies for business loans.
  • Shares refer to the equity of the SACCO; commonly referred to as share capital. They are not refundable but can be transferred to another member. They are not considered in lending.
  • Deposits refer to non-withdrawable BOSA deposits which enable a member to qualify for a loan. They are refundable when a member withdraws from the SACCO.
  • Savings refers to withdrawable savings in FOSA and MCU.
  • Part-withdrawal of shares is not allowed.
  • Guarantee, chattels, land title deeds, motor vehicle logbooks.
  • A member who has deposits in the SACCO and has not over-guaranteed.
  • Short-term loans (repayable within 1 year) are guaranteed by 4 members.
  • Long-term loans (repayable beyond 1 year) are guaranteed by 6 members.
  • Cash loan repayments are free but repayments by cheque shall attract a fee.
  • A nominee is a beneficiary appointed by a member to receive deposit refunds upon demise of the member. All members are required to fill nominee card when joining the SACCO. The member should update nominee card from time to time as and when need arises.
  • Every member is required to contribute Kes. 200 monthly towards a Risk Management Fund. This fund covers the member against death and Permanent Total Disability (TPD). It also covers the spouse and children below the age of 25 years against death.
  • Dividend is a return on share capital.
  • Interest is a return on deposits.
  • Payment of dividends in proportion to the amount of deposits held in the SACCO for a given period of time. Thus, deposits held for 3 months will only earn dividends for the 3 months and not for 12 months (1 year).
  1. Short term loans are served the same day. Long-term loans are served after one month.
  • 60 working days after placing withdrawal notice.
  • A member wishing to withdraw must be loan-free.
  • Trans National Times SACCO is licensed, supervised, and regulated by the SACCO Societies Regulatory Authority (SASRA) as a deposit-taking SACCO (DTS). Thus, members deposits are safe.
  • The SACCO has been in business since 1977 when it was first registered by the Ministry of Co-operatives under certificate number 2660.
  • Fill membership form, attach photocopy of Identity card and recent colored pass-port size photograph.
  • Entrance fee is Kes. 500 which may be deducted from your first deposit contribution.
  • Pay share capital stipulated for relevant membership class.
  • Kindly visit our offices or call our loans office to verify your status.
  • After verification of your status.
  • You can deposit using the SACCO paybill number 533888 and enter your Identity card number as account number.
  • Fill the adjustment form to update your shares balance on the payslip.