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AGGREY TSHOMBES EU SACCO BOARD CHAIRMAN gerton University SACCO Ltd complex building is a new venture that shows the Saccos move in the right direction. It reects the Saccos exemplary performance for the past 38 years and a guide towards success as well
VICTOR RUTTO EU SACCO CEO gerton University SACCO Ltd has been on a rapid growth despite the initial location at Egerton University compound which was not a strategic position. With the new complex, the growth of membership has sur-
inally the time has come and I am pleased to witness the opening of the Egerton University SACCO banking plaza after many years of self-denial by members who ensured funds were made available to complete the project. It is important to note that today does not just mark the completion of the banking plaza but also a complete fulllment of the requirement by the SASRA having been awarded a certicate of operation as a deposit taking Sacco in May 2012. I wish to encourage the members
of the public to join EU SACCO and enjoy a wide range of products and other services. The Sacco enjoys high caliber of professional (management staff ) and high technical capacity that have made the Sacco offer a wide range of services, loans and also dividend and interests ranging between 13 to 14 percent. In conclusion, I wish to congratulate the general membership elected leaders, staff and various stake holders for team work, persistence and commitment that nally made the completion of the project possible.
ooperatives are based on the values of self-help, self-responsibility, democracy, equality, equity, and solidarity. Good performance of co-operative enterprises strengthen capacity to access markets, create jobs, generate income, reduce poverty, provide social protection and give their members a voice and representation in society just like Egerton University SACCO has done.
Co-operatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their cooperatives. They inform the general public particularly young people and opinion leaders - about the nature and benets of co-operation. I therefore congratulated Egerton University Sacco for this great achievement of building a magnicent building. Xavier Lugaga Njoro Sub-County Co-operative Ofcer
Board Members
maximum period of 12 months, interest rate of 1.25% reducing balance and maximum amount deposits multiplied by 3. Instant /Overdraft- maximum periods of 10 months, interest rate of 4% per month reducing balance and maximum amount of deposit multiplied by 4. Product loan- Maximum period of 20 moths, interest rate of 10% to 25% straight line based on period and maximum amount deposits multiplied by 4. Business/Welfare loansmaximum period of 12 months to 36 months, 15% straight line and maximum amount deposits multiplied by 3.
The accounts will cultivate and encourage the culture of saving and nancial awareness in your child
Accounts-These accounts give Business people (Class B) opportunity to transact financial obligations while they give businesses attention. Any Group, Welfare, association, club, or similar organization is eligible to open Group months and1year maturities. These funds may be used to secure a loan. The loan maturity shall match the deposit maturity. The Interest and rate is fixed until maturity will be paid upon for all the deposits. Dividends Capitalization-
We congratulate Egerton University SACCO for their official Launch of New Plaza
>> Egerton University SACCO loans exibility with friendly rates is what has kept our projects going and our school growing.
Njokerio Self-Help Group Members outside the groups building in Njokerio Village near Egerton University same root charging only a fare of Million loan to purchase a parcel of Kshs 50 between the Nakuru town Land (100m by 50m) near Egerton and the University. The buses are University in December 2012 at a cost also hired to local community for of Kshs 500,000 and construct transport services as well as building with several rental rooms students and staff. It is an effort that which currently provides has been appreciated by Egerton accommodation to the increasing University management due to its Egerton University students. wide outreach. The hostel currently fetches over Kshs 70,000 per semester and the NJOKERIO EGERTON GATE SELF HELP group looks forward to investing in GROUP real estates by utilizing its membership and low interest loans from Egerton Njokerio Egerton Self Help University SACCO. The groups Group is happy with Egerton strategic plans ending 2015 is to raise University SACCO loans for its Kshs 4 Million to expand the hostels growth and success. Each individual targeted at the increasing number of member from the 22 member University students.
special purpose savings. The rate paid will be slightly higher than the regular Deposits rate paid. This is the incentive given to the members because these funds are nonrefundable and are the principal investment for members. Members who resign from the Sacco can retain share capital as an investment and continue earning dividends on them for a life time or sell them to existing members.
2011 3130 6,959,113.03 652,901,815.86 905,077,667.10
and update their Nominees with the Sacco. In case of more than one nominee, indicate percentage allocation to each nominee. For polygamous marriages kindly ensure that all the dependents are catered for to avoid a tussle when you are gone. Sacco Assurance Egerton Sacco has extended its partnership with CIC Insurance Group with an intention of adding
2009 2648 5,296,000.00 497,695,829.60 535,713,159.60
the society. As a result the society has continued to register growth performance in most of its areas of operations. Share capital review As resolved in the last AGM-2013, members approved change of value per share from Kshs. 20.00 to Kshs 100.00 per share and increased the minimum share capital from Kshs. 2,000.00 to Kshs. 10,000.00. This simply means that for you to become a full member of Egerton Sacco, you need to subscribe at least 100 shares worth Kshs. 100.00 each, totaling to Kshs. 10,000.00 worth of shares. Members have been given a timeline of at most 20 months to upgrade their share holding to be in line with the amendments. The dividend earned on share capital will be paid prior to the payment of regular Deposits or
Welfare services All Sacco loans apart from the Business loans are fully insured against death and permanent disability. The insurance premiums are paid for by the Sacco and members are exempted from paying that fee. Upon death or permanent disability of a member all his/her outstanding loan balances will be paid by the insurance company. Also upon death of a member, the SACCO pays a last respect contribution of Kshs. 20,000 to his/ her next of kin for burial arrangements. Finally after clearance of the outstanding loans, the members next of kin is refunded the deceased member entire Share deposit contributions. Members are therefore encouraged to frequently conrm
value to our members by offering affordable and need based insurance products. Under this concept Egerton Sacco is an agent of insurance products to Sacco members at subsidized premiums as compared to the market rates. The Sacco is also developing an insurance premium nancing product to cater for those members who cannot afford to pay premiums at once. The product will enable you pay your premiums in installments and with ease. Products under the partnership: Competitive comprehensive motor insurance at a rate of 3.75 %. This is a great discount from 7.5% which is the market rate. Domestic Package Personal Accident Cover Life and Disability Cover Fire & Perils:, Burglary