DAILY 100BOB SAVING SACCO
(Strictly confidential)
In the Name of GOD, The Most Gracious, The Most Merciful
I hereby make application for membership of the society and agree to abide by the By-Laws
and any amendment thereof, in the An-Nimaat Savings and Credit Co-op Society ltd. (Attach
copy of ID and KRA pin)
Applicant’s particulars (All in Block letters)
1. Name:
……………………………………………………………
2. Occupation……………ID NO.……………………… (Attach a copy of ID)
3. Home address……………………Contact No……………………………
4. My Nominees/Next of Kin……… ID NO. ……… (Attach a copy of ID) Contact No.
………………………………………….
5. His/her Relationship:
…………………………………………………………………………
6. Applicant’s Signature:
…………………………………………………………………………
7. Signature witnessed by:
NAME………………………………………………………………..
SIGNATURE……………….
Date: ………………….
N/B All details should be filled 2
(FOR OFFICIAL USE ONLY)
MEMBERSHIP
New applicant will pay a one-off non-refundable fee (Registration fee) of Ksh. 2,000 with a
monthly contribution of minimum Ksh 500/= and a maximum of infinity.
Monthly maintenance fee of ksh 200 per head will be paid by members if not will be
deducted from monthly savings.
Members are required to make their monthly contribution through:
1) Pay bill Number 652466 or deposit Monthly contribution to
2) KCB Bank Industrial Area Branch Account Number 1238818692.
Membership Admission Number …………………………………………………………
Membership admission date………………………………………………………………..
Chairperson…………………………………
Secretary…....................................................
Date: ………………………………………………………..
CAPITAL SHARE
Every member is required to pay a non- Refundable but transferrable Share Capital of KSHS
5000 for Sacco ownership.
DEPOSITS
All savings shall be made to the bank and deposit slip be dropped at our office for issuance of
receipt.
No cash transaction will be allowed in our office, only bank slips for reconciliation.
Individual members shall benefit from various products of the society after 6 months of
continuous savings.
Group members shall benefit from various products of the society after 3 months of
continuous savings.
NOTE: WE STRONGLY ENCOURAGE MEMBERS TO EMBRACE OUR NEW
DAILY 100BOB SAVING PLAN. 3
WITHDRAWAL & TRANSFER
A member may withdraw from the Sacco by way of:
1. Cancellation of account due to being dormant
2. Voluntary cancellation by the account holder after the required cancellation notice in
writing has been submitted.
3. Management cancellation due to gross misconduct.
4. Death
With approval of the management committee, a member may at any time transfer his/her
savings to another member or a new person. Such transfers must be in writing and at a
nominal value.
WITHDRAWAL FROM THE SACCO
Any member desiring to withdraw from the Sacco shall give 60 working days written notice
of the intended withdrawal to the secretary, and it shall take effect from the date of the notice
provided, and that the member has cleared all outstanding loans and other commitments made
by him/her to the Sacco, and has handed over all that is required that was in his/her
possession during the period of notice.
If any of the shares of the member wanting to withdraw have been invested in land, buildings
and other immovable property, the withdrawal shall only be effective when another member
of the group has bought the invested shares.
Any member withdrawing will be charged a commission of 2% of the current savings in lieu of
withdrawal notice of 60 working days.
PAYMENT
All payments of An-Nimaat shall be by way of cross cheques “A/c payee not negotiable” or
bank transfers. For bank transfers the following details should be provided:-Bank name,
Branch and account number.
DEFAULTERS
Any member who is a loan defaulter will have up to 3 months before being granted another
loan.
BENEFICIARY
Every member of An-Nimaat may appoint his/her nominee or nominees (next of Kin) for the
purposes of inheritance of member’s rights and obligations in case of member’s demise by
filling in the nominee form. The value of the deceased member’s shares or interest, less any
sums due by the latter to the Sacco or contingent liability shall be paid to the nominee or any
other lawful persons upon receiving official notice of the death of a member.
SACCO RIGHTS
The Sacco reserves the right to amend the terms of the loans either progressively or
retrogressively depending on loans performance of the members and as guided by Shariah
law.
