FAQ's
Who is eligible to be a member of the Communication Sacco?
The following categories can join the society:
Communications Authority of Kenya staff
- Afralti staff
- Kenic Staff
- African Telecommunication Union (ATU)
- Afralti staff
- Kenic Staff
- African Telecommunication Union (ATU)
What do I need to join Communication Sacco Society Ltd?
The following documents are required:
- A fully filled application form
- Next of Kin Form
- KRA Pin
- A fully filled application form
- Next of Kin Form
- KRA Pin
What are some of my rights as a member of Society Ltd?
- Attend general meetings and vote
- Get dividends
- Inspect the society’s books of accounts
- Apply for society loans
- Approve, reject or defer budget
- Participate in amending the society’s by-laws
- Get dividends
- Inspect the society’s books of accounts
- Apply for society loans
- Approve, reject or defer budget
- Participate in amending the society’s by-laws
What are my responsibilities as a member of Society Ltd?
Some of your responsibilities as a member are:
- Attending members’ education days
- Adhering to the society’s by-laws
- Prompt payment of Sacco liabilities and consistent making of contributions
- Encouraging potential members to join the society
- Attending members’ education days
- Adhering to the society’s by-laws
- Prompt payment of Sacco liabilities and consistent making of contributions
- Encouraging potential members to join the society
What do I need when applying for a loan?
- A fully completed Application form
- A member must have completed six (6) months membership and contributed a Minimum of KES. 12,000.00 in deposits.
- A dormant account must be regularized i.e. make monthly contributions for a period of six (6) months before applying for a loan
- Minimum of four guarantors who must be members and have contributed for at least six (6) months. Guarantors’ deposits MUST be equal to or more than the loan applied for
- A member must have completed six (6) months membership and contributed a Minimum of KES. 12,000.00 in deposits.
- A dormant account must be regularized i.e. make monthly contributions for a period of six (6) months before applying for a loan
- Minimum of four guarantors who must be members and have contributed for at least six (6) months. Guarantors’ deposits MUST be equal to or more than the loan applied for
How much loan can I qualify for?
- The maximum loan amount a member can be given at any one time is five times the member’s deposits.
- A member must take home at least a third of his/her pay after all deductions.
- A member must take home at least a third of his/her pay after all deductions.
Can I apply for a top up of an existing loan?
- A member with an existing normal loan is allowed to apply for top up loan from which the society will recover the balance of the existing loan and give the member difference.
What is the interest Charged on Loans?
- Normal, emergency, school fees loans attracts an interest of 1% per month whereas Vision 120 attracts 1.125%, p.m., Emergency 2 1.08% p.m. and instant loans 2% p.m.
Can I offset my loan against my deposits?
- A member is only allowed to offset his deposits against his loans if he is ceasing to be a member. He must then pay off the loan balance immediately if any. Offsets are only done when a member has asked those he has guaranteed to seek for guarantor replacements.