Here is how to use Ushuru Sacco Paybill Number 892 800
- Go to Mpesa Menu
- Select Pay Bill from your M-PESA menu
- Enter Ushuru Sacco Paybill Number 892 800
- Enter ID number for account number
- Enter the amount you wish to pay
- Enter your M-PESA PIN
- Confirm details are correct and press OK
·
You will receive confirmation message from
Safaricom indicating that the money has been transferred to the Sacco.
Ushuru Sacco Background
Ushuru Savings and Credit Co-operative (Sacco) Limited was
formed in 1970 by employees of the then Customs and Excise Department, Ministry
of Finance, under the name of Customs & Excise Workers (CUEW) Sacco.
In 2002 the Sacco changed its name to the current name.
Ushuru Sacco has its membership drawn mainly from revenue
agencies and other government arms together with the private sector members.
Ushuru Sacco has a membership of over 4,500 members.
Ushuru Sacco Loan
Products.
1.
Development Loan
Features of this loan type include:
·
The loan is granted 3.5 times a members savings.
·
Maximum recovery period is 72 months
·
Interest of 1% on reducing balance.
·
Normal Development Loan is available for a
member who has no other outstanding development loan and is applying for the
first time.
·
Refinancing Development Loan is granted where a
member has a development loan and not able to finish his project, but can still
qualify for an additional loan under the Sacco policies.
2.
School Fees Loan
·
Application for this type of loan is to assist
members meet college, school or university fees obligations.
·
Maximum repayment period is 12 months, but also
subjected to ability to repay as there is no maximum ceiling.
·
Application can be made as need arises and
cheques collected or money transferred to member account via Electronic Fund
transfer between two to three days or a banker's Cheque can be issued to the
Institution on request.
3.
Emergency Loan
·
This loan facility is to assist members meet
their unforeseen financial shortfalls which include medical, funeral and even
dowry expenses.
·
Maximum repayment period is 12 months and there
is no maximum ceiling subject to ability to repay.
·
Application can be made as need arises and
cheques collected or money transferred to members bank account via Electronic
Fund transfer between two to three days. At the members request a Banker's
Cheque can be issued to the Institution.
4.
Shujaa Loan
·
The product is available for members with high
savings, but with payslip limitations to service a loan for the required 6
years.
·
The loan is awarded 5 times the members' savings
·
Recovery period is 7 years (84 months).
·
Interest on this loan is 1.5% P.M on reducing
balance.
·
Members on this loan should remit 5,000/= to the
SACCO as minimum share deposit contributions per month.
5.
Tiba Loan
·
This is a facility for members who have not
accumulated enough savings for the loans they require; the SACCO finances their
required share deposits on their behalf.
·
There is no ceiling for this loan.
·
Interest rate is at 1.5% P.M on reducing balance
·
Repayment period is 48 months.
6.
Almasi Loan
·
This is an instant loan facility,
·
Recovery period is within 6 months
·
Interest rate of 5 % P.M on reducing
balance.
·
The loan is capped to a maximum of Kshs. 100,000
and does not require guarantors. A witness for the loan is however required.
7.
Jongea Loan
·
The loan product is available for new members
who have not matured for regular loan facility by attaining the six months
requirement.
·
Maximum ceiling is Kshs. 200,000
·
Recovery period is 12 months
·
Interest rate of 2.5% P.M on reducing balance.
·
25% of the loan granted is receipted to the
members share deposits account.
Ushuru Sacco Mobile Banking Loan: M-Poa Loan
Ushuru Sacco is the first Sacco to offer a loan through the
mobile payment platform. Dubbed M-Poa loan, members are able to apply for an
emergency loan through their mobile phone.
A member does not need to fill in a physical form.
What is required for one to access M-Poa Loan?
1.
Applicant must have been an active member for at
least 6 months
2.
Applicant must be M-Sacco registered
3.
Repayment is through M-Sacco
4.
Repayment period is 1 month
5.
Applicant must not be under paying loans or
share deposits
6.
Maximum Loan amount Kshs 10,000.00 at an interest
rate of 10%
7.
Qualification is based on 3.5 share deposits
less outstanding loan balances
8.
The loan is unsecured
9.
Outstanding loan not paid within 1 month
attracts a penalty of 10% compounded
10.
M-Poa loan defaulters will be blacklisted from accessing
M-Poa Loan, any other Ushuru Sacco credit facility and listed with CRB until
the loan is cleared.
11.
The transaction will attract Safaricom charges
of Kshs 33 and SMS charge of Kshs 10 total of Kshs 43 from amount applied.
How does one apply for Ushuru Sacco M-Poa Loan Application?
·
Registered members dial *346#
·
Enter M-Sacco Pin
·
Select Option three (3) M-poa Loan
·
Enter Amount - maximum amount Kshs 10,000.00
·
Member receives a message that M-poa Loan has
been received and is under process.
·
A member then receives a message on Sacco loan
payment via Mpesa
How do you repay Ushuru Sacco M-Poa Loan?
- Member loads money to Mpesa
- Member deposits the funds through Ushuru Sacco Paybill Number 892 800 account number being your National ID number followed by a short code M. Example 12345678M. Note: M is a short code for MPOA Loan.
- Enter amount.
- Enter your MPESA PIN.
- Confirmation of the payment will be send via SMS.
Ushuru Sacco Savings Products
1.
Ordinary Savings
·
The society strives to promote savings amongst
its members and the minimum contribution is Ksh.2,000/= per month towards the
monthly deposits.
·
These deposits may be used as collateral against
borrowings from the Society and shall only be refunded when a member withdraws
from membership and provided the member has fully repaid all his debts and is
free from guarantee.
·
Non-withdrawable deposits shall be refundable
within sixty days after receiving a written notification from the member.
·
Interest on deposits shall be paid at a rate
that shall be determined by the board at the end of the year after audit has
been completed.
·
The interest may be eliminated if the financial
position of the Society and capital adequacy does not permit payment.
2.
Investment Savings
·
This is a withdrawable savings product for
members of the SACCO. It is ideal for members with surplus funds to accumulate
for future small scale investments e.g. household asset acquisition, share
purchase etc.
·
Members can make direct investments in cash
through the SACCO bank account or organize for a check off arrangement.
·
This saving is available on demand and been tied
to our M-Sacco platform, where members can have it withdrawn at their
convenience.
·
It should be noted that the SACCO does not just
look upon members to save and take loans but to as well save for specific foreseeable
and unforeseeable needs.
Ushuru Sacco Contacts
Nairobi head office
Forodha House, 2nd Floor Wing B,
Off Ngong Road
P.O Box 52072 - 00200, Nairobi
Tel: 020-2719660
Email: ushurusacco@africaonline.co.ke or info@ushurusacco.com
MOMBASA-OFFICE
Custom House (Ground floor Room No. 6)
P.O Box 90601, Mombasa
Tel: 020-2170661
Email: ushurusacco@africaonline.co.ke or info@ushurusacco.com
KISUMU-OFFICE
Custom House, 1st Floor
P.O Box 94, Kisumu
Tel: 020-2391343
Email: ushurusacco@africaonline.co.ke or info@ushurusacco.com
ELDORET-OFFICE
Kiptagich House, 4RD Floor (Room No. 416)
P.O Box 402, Eldoret
Tel: 053-8015853
Email: ushurusacco@africaonline.co.ke or info@ushurusacco.com
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ReplyDeleteThanks and look forward to your prompt reply.
Regards,
Abdul