PCEA SACCO LTD

Membership is open to all.  

All members of PCEA Sacco Society.

When the first share contribution is received.

Shares: 
This represents members portion of equity of the society. It is not withdrawable but it can be transferred when one ceases to be a member.

Deposits: 
This are the regular monthly deposit or one time deposit. They are used to determine eligibility for a loan and can only be withdrawn when one ceases to be a member. Members enjoy interest on making lumpsum deposit. 


Savings: 
This is the withdrawable amount held at the P.C.E.A accounts.

No, shares cannot be withdrawn as long as you are still a member.

Guarantors

Any active member in good standing is allowed to be a guarantor provided that one has not over guaranteed. A guarantor must be willing and able to repay the loan guaranteed incase the loan is defaulted.

A nominee is the person designated by a member to receive the proceeds of any payable funds upon the death of the member. 

All members are required to provide details of nominee(s) upon registering as members.

One can change and/or update his/her nominee information as when and need arises.