Frequently Asked Question
Can we have a Sacco information booklet?
Yes in brochures and we also have a website www.pceasaccoltd
How can one/group join the Sacco?
Yes many have enrolled and benefited from us details in the brochure
What happens after one retires?
Its advisable to continue with the Sacco with guarantors one can get loan?
How is the penalty charged and at what time?
After 15th of the following month 5% compound interest.
Can one use any other collateral other than guarantors?
At the moment no.
How is the Sacco management board elected and who qualifies?
Refer to the By Laws(15.2 ELIGIBILITY FOR MEMBERSHIP TO THE BOARD OF DIRECTORS )
Why should an individual be punished and not get a loan because the presbytery or institution is not paying?
It’s a legal requirement for all employers to submit deductions and it’s a personal responsibility to follow up. When applying for a loan all requirements must be met per the policy including the members account being up to date.
Can one guarantee others if He/She has a loan with the Sacco?
Yes up to a maximum of 4 people
What do I do if I guarantee a person and she/he leaves the country for abroad and defaults in payment?
Guaranteeing means you are liable in case of default so your deposits will be deducted therefore guarantee people whom you trust can pay even if they are far.
Is Loan Insurance is it charged on refinancing and Rudi Tena Loans?
Yes its charged on all loans, for Rudi Tena loans the insurance charged on the current loan is offset against the insurance paid for the remaining period of the loan being cleared
.If one clears loan is interest for the remaining period charged?
No interest is on reducing balance meaning once loan balance is cleared no further interest is charged.
Clarify on the Pole Mshirika?
One is deducted Kshs 300 per annum. In case of death of principal member the family is paid Kshs 50,000.00 and for loss of a nuclear family member is paid Kshs 25,000.00.
Clarify on the Withholding tax?
Its charged on Interest on deposits at 5%
Dores the Sacco register defaulters with CRB?
Yes this is currently in force.
What happens if a member dies and has a loan with the Sacco?
Sacco has an insurance it will pay provided the loan had no default and the next of kin will apply to withdraw the savings.
How can we access the by-laws?
This are vailable on the website.
