F.O.S.A (Front Office Services & Activities)

FOSA is an abbreviation for Front Office Services Activities. This is a service that promotes one of our priorities of bringing services closer to members. Among products offered are:-

1 ASSET FINANCE

1.1 Land

Features:

This product is purely meant for land purchase or construction.

1. Saving for 3 months
2. Loan interest 1% per month fixed
3. Multiplier of 5 times
4. Title deed required as the collateral
5. Repayment period up to 5 years

1.2 Motor Vehicle

Features:

This product is meant for motor vehicle purchase

1. Savings 3 months
2. Loan interest 1% per month fixed
3. Deposit 30% then finance 70%
4. Repayment up to period 5 years
5. Log book required (asset acquired)
6. Comprehensive insurance cover required
7. Car track required

1.3 House Hold

1. 3 months deposit
2. Must be a member
3. Above 18 years
4. 1%procssing fee
5. Deposit of 30% asset value
6. Interest   1.5% per month
7. At least Repayment period 1 year.
8. Household assets acquired-security

2. BUSINESS LOAN

Features:

1. Savings 3 months
2. Loan interest 1% per month fixed
3. Multiplier of 3 times
4. Repayment period 36 months
5. Collateral required e.g. Log book or title deed

3. MOTOR CYCLE (BODA BODA)

Features:

1. Interest rate 1% per month fixed
2. Deposit 30%then finance 70%
3. Maximum repayment period 12 months
4. Loan security –asset acquired
5. Comprehensive insurance cover for motor bike
6. Motor bike tracking device

4. SCHOOL FEES

Features:

1. Savings 3 months
2. Loan interest 0.8% per month
3. Multiplier of 3-4 times
4. Repayment period 12 months
5. Submission of fee structure
6. Bankers cheque in the name of institution.

5. CHURCH LOAN

Features:

1. 3 months consistent savings
2. Multiplier of 3 times
3. Collateral required
4. P.C.C. Minutes signed by the executive board required
5. Consent letter from priest /vicar required
6. Repayment period up to 36 months

6. KILIMO LOAN

Features:

1. Interest charged is 1% per month fixed
2. Repayment period is 6 months
3. Funding is up to 5 times
4. Insurance on the product
5. Ample source of water required for horticulture farming

7. SAVINGS ACCOUNT

Features:

1. Mandatory monthly savings for all members
2. Minimum monthly savings 1,000/=
3. Shares earn interest at the end of the year
4. Minimum ownership shares of 20,000/- which earn dividend at the end of year

All Loans below Ksh 300,000.00 are paid though FOSA