his is a dynamic group within the St. Francis Kasarani Catholic Church located at Kasarani-Njiru Road.

 

 The group was formed in the year 2000 with 40 founding members and currently the membership stands at 550. Of this are 250 men and 300 women.

The group is guided by principles as derived from the guideline and the A.G.M’S resolutions.

VISION

To be the leading in quality saving and credit provision in the Arch-diocese of Nairobi and it’s environs.

 

MISSION

To continuously provide financial services, adopt leading-edge practices and give competitive returns to our members.

MEMBER REGISTRATION

•  Admission is open to both Catholic and non-Catholics from within Kasarani and should be over 18 years & of sound mind.
•  At registration an applicant should provide
•  Registration Application form  (availed at Ksh 100)
• A copy of National Identity Card
• 2 passport photos
• Registration fee Ksh 200
• Ksh 200 for a pass book
• Minimum shares Ksh 200 (10 shares) 

            SAVINGS

• Minimum savings per month is Ksh 200
• A member should save regularly lest he/she be deemed dormant.
• A member should not save more than 15% the share capital.
• A member qualifies for dividend on saving for six consecutive months.
  

CREDIT MANAGEMENT

• A member qualifies for a loan two times his/her shares on saving six consecutive months payable  in 24 months
• Upon paying the first loan successfully , subsequent loans  are three times his/her shares payable in 36 months.
• The difference between the shares and the loan must be fully guaranteed a shilling for a shilling.
• Loans are granted upon filling a loan application form (availed at Ksh 100).
• Dully signed forms MUST be returned to the office on or before 20th of every month.
• The loan amounts granted are subject to a deduction of  Loan Security Fund (L.S.F) of Ksh 6.50 per thousand.
• If a member defaults in repayment of his/her loan for three consecutive months, the loan is recovered from his/her shares and guarantors. He/she ceases to be a member.
  

 

FINANCIAL MANAGEMENT

• All members are required to deposit the money to our group’s A/C No. 067-3539319 Barclays Bank Ruaraka Branch and hand in the slip during collection days (strictly NO cash payments)
  
• The collection is on weekdays ie. Monday to Friday from 8.00 a.m. to 5.00 p.m.
  
• Loans are issued by cheques.