The United Nations (UN) Sacco was established in 1975 with just 131 members to provide financial services to UN employees.
Over the years, it has expanded its membership to include staff from UN-related agencies and selected international organizations.
Today, the Sacco serves over 6,900 members and manages an asset base of Ksh18.21 billion.
Its services include savings, loans, mobile banking, money transfers, safe custody, and investment opportunities.
The Sacco’s offices are located at the UN SACCO Building within the United Nations Complex in Gigiri, Nairobi.
Membership Requirements
To become a member, an aspiring applicant is required to submit a duly completed Membership Application Form.
The application must be accompanied by a copy of the applicant’s National ID or Passport for non-Kenyans, a letter of employment or pay slip, and a passport-sized photograph.
For kin members, additional documents are required: children must provide a birth certificate, while spouses must provide either a marriage certificate or a marriage affidavit.
Membership offers several benefits, including the opportunity to save, access to affordable credit products, and high returns on investments.
Additionally, members also receive education on proper financial management and investment practices.
How to Join
To become a member:
- Download the Membership Application Form from the United Nations Sacco website.
- Fill it out and attach all required documents.
- Send your completed application to: [email protected].
Also Read: Unaitas Sacco: Membership Requirements, Savings, Loans Options, And Interest
Loan Options at United Nations Sacco
United Nations Sacco offers a wide range of loan products designed to meet the diverse financial needs of its members.
These loans are divided into two main categories: BOSA loans, which are based on member savings, and FOSA loans, which are independent of member savings.
BOSA Loan Products (Based on Member Savings)
BOSA loans allow members to borrow funds against their savings, with competitive interest rates and flexible repayment terms.
- Normal Loan: Members can access up to four times their deposits, with a maximum of KES 20 million. The repayment period is up to five years, with an interest rate of 12% per annum on a reducing balance.
- Premier Loan: Designed for members seeking larger loans, offering up to five times their deposits, with a maximum of KES 20 million and a repayment period of up to seven years at 15% per annum.
- Emergency Loan: Provides quick financial support for unforeseen situations, processed within 24 hours.
- Seniors’ Loan: Tailored for retired members, offering up to three times their deposits, with a maximum of KES 20 million, repayable over 48 months.
- Education Loan: Supports school fees for various learning institutions, with a maximum of KES 3 million across three loans, charged at 12% interest per annum.
- Rental Property, Plot Financing, and Secured Asset Loans: Enable members to invest in property or land by leveraging their savings.
- Loyalty and Instant Loans: Reward consistent members or provide quick cash for urgent needs.
FOSA Loan Products (Independent of Member Savings)
FOSA loans cater to members who may not have sufficient deposits but still need access to credit.
- Salary Personal Loan: Based on monthly FOSA remittances, this loan offers flexible repayment options.
- Settlement Loan: Helps new members transition smoothly to their workplaces.
- Insurance Premium Financing: Covers insurance-related expenses such as medical, life, and vehicle insurance.
- Quick Cash and Junior Education Loans: Provide immediate funds for urgent needs or educational purposes.
- FOSA Loan: Designed for members who have exhausted their savings-based borrowing capacity but still require financial assistance.
Also Read: Imarisha Sacco: Membership Requirements, Savings, Loans Options And Interest
Saving Options
United Nations Sacco offers a variety of savings products to help members meet both short-term and long-term financial goals.
The FOSA Savings Account is ideal for everyday transactions and provides convenient access to funds. Members earn monthly interest, can use a VISA debit card globally, obtain banker’s cheques, and manage their account via the mobile MSACCO app, all without monthly maintenance fees.
The Dollar Savings Account is designed for members who earn in or wish to save in US dollars. It allows members to earn interest in USD, protects against currency fluctuations, and facilitates international transactions.
The Member Deposits Account serves as a primary account for building savings and acts as a foundation for accessing various loan products. It encourages regular saving habits among members, especially new ones.
For young savers, the Junior Savings Account allows minors to start saving early. The account is managed by a parent or guardian until the child reaches adulthood and earns interest on deposited funds.
The Fixed Deposit Account is suited for members with a lump sum to invest for a fixed period. It offers higher interest rates than regular accounts, with penalties for early withdrawal.
The Chama Account is designed for groups or societies pooling resources for collective saving. It enables joint account management, group investments, and access to loans, promoting shared financial growth.
Finally, the Compulsory Savings Account ensures that members maintain a minimum savings balance. This account builds a financial base and acts as security for loan eligibility.
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