BENEFITS TO MEMBERS
SHOULDER OF SOLACE CLAIM PROCESS
If the notification is via email, it is printed and circulated for claim by receiving Sacco officer
Ensure all the relevant documents required for membership application were provided and premium paid. Otherwise attach them to claim documentation.
Submit claim supporting documents. The following MUST be attached;
Acknowledgement of receipt of all documents and processing of claim within 48 hours following time of receipt of the full documentation.
The Cheque shall be drawn in principal’s favor.
TERMS AND CONDITIONS
Provide a Burial Permit or Funeral gathering permit
For children - Birth certificates
For those above 18 - copy of deceased ID & Members ID copy
Waiting period: : (This is the period between joining and making the first claim)
i) Member spouse and children - 1 month
ii) Nuclear family: 2 months
Premiums are paid and renewed annually through cash or installment free payments
Any member who moves from lower tier of premium to a higher tier must top up contributions.
If a member wishes to withdraw from the scheme and stops contributing, all the contributions made earlier will be forfeited.
In case of claim the member must fill in a claim form.
Maximum entry age of a principal member and spouse is 70
Maximum entry age for parents and parents in law is 85 years
Wekeza Scheme is a withdrawable deposit account where depositors can place short term deposits for specified periods of time usually between three to twelve months. The account targets members with large sums of money that they have put aside for investment and they are fairly certain of the period that they can commit the funds.
i) Minimum amount: - Ksh.50,000 but member can add any other amount below 50,000 even Ksh.10,000
ii) Interest: As per approved tariff guide
iii) Can be used to guarantee Sacco loans at 100% of wekeza value
iv) Period for fixing: Three, Six, and Twelve Months
This account is allows any member to plan for their holiday at any time by saving and getting and getting a loan that is pocket friendly.
We shall partner with travel companies to ensure our members get best rates and experiences with a variety of wild and untamed destinations.
i) Flexible savings options through standing orders, Paybill and RTGS
ii) Kes.1,000 minimum account balance.
iii) Withdrawals before 6 months will not attract interest
iv) Competitive Interest rates
v) No fees for closing the account
Members Deposits provides a solution for members seeking to save securely and earn dividends at premium rates. Members deposits also enable members access our affordable credit products by using their deposits as guarantees.
To empower members economically by providing quality financial services through prudent mobilization of resources and excellent customer care.