Welcome to Username SACCO (“we”, “us”, or “our”). These Terms and Conditions (“Terms”) govern your use of our website, online services, and membership offerings. By accessing or using our services, you agree to be bound by these Terms.
1. Eligibility
To become a member or access our services:
- You must be a Kenyan citizen aged 18 years and above.
- You must provide valid identification (National ID or Passport).
- For diaspora membership, valid proof of residence abroad is required.
2. Registration and Membership
To join Username SACCO:
- Fill out the official online registration form.
- Pay a non-refundable registration fee of KSh 1,000.
- Purchase a minimum of 50 shares (KSh 5,000 total).
- Begin monthly contributions from as low as KSh 1,000.
Membership is subject to approval and compliance with all applicable SACCO policies and regulations.
3. Savings and Loans
Members can:
- Access savings and loan products based on eligibility criteria and membership standing.
- Apply for loans only if they meet savings thresholds, have necessary guarantors (if required), and fulfill all application requirements.
Loan approval is at the sole discretion of Username SACCO and is subject to verification, creditworthiness, and current policies.
4. Diaspora Wezesha! Loan
Diaspora members can:
- Apply for personal loans for property, education, or emergencies.
- Guarantee loans for family members in Kenya.
Loan disbursements may be made directly to:
- The member’s bank account.
- A nominated family member.
- Directly for Username Properties purchases.
All parties involved are expected to honour repayment schedules. Guarantors share responsibility in case of default.
5. Account Access and Digital Services
- Members can access their accounts through our secure online portal or mobile platforms.
- Username SACCO is not liable for losses due to unauthorized access arising from your negligence (e.g., sharing passwords).
6. Fees and Charges
All fees related to registration, loan processing, and other services are communicated transparently. Username SACCO does not impose hidden charges.
7. Termination and Suspension
Username SACCO reserves the right to:
- Suspend or terminate your membership or digital access for policy breaches, fraud, or non-compliance.
- Notify members in writing and provide a fair hearing process where applicable.
8. Intellectual Property
All content on our website and portals (text, logos, designs) is the intellectual property of Username SACCO and may not be copied or reused without permission.
9. Limitation of Liability
Username SACCO is not liable for:
- Delays caused by system maintenance or external service providers.
- Any indirect or consequential damages resulting from the use of our services.
10. Governing Law
These Terms shall be governed by the laws of the Republic of Kenya and the Ministry of Co-operatives and MSMEs under which Username SACCO is licensed.