KEMRI COOPERATIVE SAVING
AND CREDIT SOCIETY LIMITED

The KEMRI SACCO is a Savings and Credit Co-operative Society
registered under the Co-operative Societies Act (Cap 490)
Laws of Kenya. The SACCO was founded in 1980 by members
working at KEMRI. Later membership was opened to staff of
non-common bond members.
The primary aim of the SACCO is to provide members with an
avenue to make savings and access credit for productive purposes.

To Empower Members through Mobilization of Savings and
Prudent Investment Decisions

To be the financial savings investment partner of choice for
our member

Transparency
• Integrity,
• Honesty
• Team work
• Professionalism
• Respect & Fairness
• Customer Focused
• Reliability

Membership is open to all provided that the member pays a
non-refundable registration fee of Ksh. 1,000.

The KEMRI SACCO

The KEMRI SACCO has a membership of over 1,000 and an asset base of over Ksh. 400 million

TYPE OF LOAN ,TERMS AND CONDITIONS

SUPER NORMAL LOAN

Processed monthly, repayment - 48months, 12% interest(p.a) reducing balance Maximum loan X2 of deposits

ACCELERATED NORMAL LOAN

10 working days processing period,repayment-36 months 16% interest charged upfront. Maximum loan X3 of deposits Interest rate charged 12% p.a reducing balance

INSTANT LOANS

Cheaper than all other mobile loan products Issued to cater for extreme emergencies, Issued within 24 hours based on capacity to pay, repayment period 6 months @5% monthly interest

NORMAL LOAN

3x member’s savings Repayment period - maximum of 36 months Existing loan must be cleared before applying for a new loan Interest rate charged 12% p.a

SCHOOL FEE LOAN

Interest rate 14% p.a reducing balance Payable within 12 months Only one loan may be granted at a time but members may apply for loans to clear existing school loan which if approved will attract an interest of 10% of the loan balance. Only three school fee applications may be made within a 12 months period.

EMERGENCY LOANS

Interest rate 12% p.a reducing balance Payable within 12 months Only one loan may be granted at a time but members may apply for loans to clear existing emergency loan which if approved will attract an interest of 10% of the loan balance. Only three school fee applications may be made within a 12 months period.

BENEVOLENT BENEFITS TO MEMBERS

01.

Pays the beneficiaries Ksh 50,000 for memberswho pass on
to cover funeral expenses

02.

Pays the beneficiaries Ksh 20,000 for nuclear family members
who pass on to cover funeral expenses.

03.

Used for offsetting any loan balances for members who pass on

KEMRI SACCO PRODUCTS

SAVINGS PRODUCTS

This scheme gives the member the opportunity to save monthly and build a deposit which is non-redrawable unless on termination of membership. The benefits include: 1.

LOAN PRODUCTS

GENERAL REQUIREMENTS

  1. All loans subject to 1/3 take home rule
  2. Total loans granted must not exceed three times (x3) of the members savings
  3. All loans shall be processed on first come basis

OTHER PRODUCTS

INSURANCE AGENCY – The Sacco acts as an insurance agency for member’s policy covers against, motor vehicle, property, retirement benefits among others. SCHOLARSHIPS SCHEME – The SACCO proactively shops for members’ children scholarships. Currently the SACCO is facilitating an education product by Co-operative Bank of Keny

Members Deposits

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. This scheme gives the member the opportunity to save monthly and build a deposit which is non-redrawable unless on termination of membership. This is mandatory for all registered members
Eligibility:
Minimum monthly share contribution of 10 percent basic pay for salaried members. Minimum of Ksh. 2000 for non-common bond members;

Holiday Savings Scheme

Plan for your next holiday in advance with minimal struggle through our Holiday Savings Scheme. This scheme is easy to open, offers competitive rates of interest and has no ledger fees. GENERAL REQUIREMENTS

  • Allows you to save for a minimum of 12 months
  • You can withdraw all your savings and start afresh
  • No ledger fees.
  • Attractive interest rate paid on withdrawal
Eligibility
  • One has to register as a KEMRI SACCO member.
  • An interested member fills a holiday savings application form
  • Produce a copy of the National Identity Card (ID)

  • Share Capital

    Every member shall be required to contribute a minimum of Ksh. 4000 as a share contribution upon joining. This amount is mandatory for all members and can be transferable, but not withdrawable.
    Education Savings Scheme

  • Minimum monthly of contribution kSH.1000.
  • Attractive interest.
  • Payable after 12 months

  • Free ENQUIRY

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    Contact info

    FEEL FREE TO CONTACT US.

    Drop us a line

    Any questions or enquiries? We are looking forward to hear from you!

    Call us

    +254713629194

    Mail

    info@kemrisacco.com

    MAIN OFFICE LOCATION

     NAIROBI- KENYA

    KEMRI SACCO
    P. O . BOX 19643
    Nairobi,Kenya