Central Finance Fund
Mobilising Funds for Savings and Credit Co-operative Societies
As a union of savings and credit co-operative societies in Kenya, we understand the fundamental role of SACCOs as vehicles for cooperation, self-help and the uplifting of wellbeing of members. After all, these are the principles upon which the cooperative movement was founded.
Our member societies have proficiently been able to pool their financial resources, which have been instrumental in facilitating the growth of these SACCOs as well as uplifting the social-economic status of their membership.
KUSCCO’s Central Finance Fund
Our Central Finance Fund instrument at KUSCCO is founded on the same principle as that of the cooperative savings and credit societies.
Financial capital for our Central Finance Fund is sourced from the regular deposits by SACCOs. KUSCCO pays a reasonable interest on the deposits, which is disbursed quarterly to member societies.
Central Finance Fund Products
By subscribing to the KUSCCO Central Finance Fund, SACCOs in Kenya can enjoy the benefits from the fund’s products which include:
- SACCO Compliance Advance and Savings: An account designed by KUSCCO to help SACCOs meet the expected SACCO compliance requirements by ensuring unlimited access to advance funds at very reasonable interest rates.
- The Instant Premium Loan: Part of a family of loan products designed to fill a gap for financing the needs of SACCOs wishing to borrow for periods longer than 36 months.
- KUSCCO Jungu Kuu Loan: A loan given to SACCOs for extension of credit to their members.
- KUSCCO Education Loan: Helps SACCO members to borrow money at competitive interest rates to pay for school fees.
- KUSCCO Express Loan: A quick loan for emergencies that helps SACCOs in the event that their liquidity falls below expectation.
- SACCO Special Deposit: An investment instrument designed to give SACCOs more attractive returns. The package includes expert investment advice to SACCOs.
- Vijanaa Sasa: An affordable loan aiming at supporting the youth groups or individual enterprenuers to exploit thier talents, reach thier potentioal in social change, job creation and economic renewal
- Vijanaa Loan: A loan targeting youth based Saccos countrywide to acquire loans that will facilitate in initiating and developing income generating projects.
- Kusasa Athi-River: Ensuring financial inclusion of individuals small and medium sized enterprises through provision of various financial products.
Saving with Central Finance Fund
Any SACCO in Kenya can join the Central Finance Fund. To qualify, SACCOs must fulfil the following conditions:
- Be a paid-up affiliate member of KUSCCO
- Submit copy of resolutions authorising the savings and credit society to join the Central Finance Fund
- Submit a completed application form to join the Central Finance Fund
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