Question 1

Who can join Unga SACCO?

Accepted Answer

Unga SACCO is open to everyone. Membership is available to employees, business owners, self-employed individuals, members of the public, and employees of outsourced companies. Everyone is welcome to join and enjoy our savings and credit services.

Question 2

How do I join Unga SACCO?

Accepted Answer

Simply complete a membership application form, submit the required documents, and pay the registration fee of KSh 1,000 payable through Paybill number 400200, account number 01120000604800.

Question 3

What documents do I need to become a member?

Accepted Answer

You will need: a copy of your National ID or Passport, KRA PIN Certificate, a passport-size photo (where applicable), a completed membership application form, payment of registration fee of KES 1,000, monthly contribution of KES 1,000, and share capital of KES 20,000 payable in instalments.

Question 4

Do I have to work for Unga Group to become a member?

Accepted Answer

No. Unga SACCO is open to all eligible individuals. You do not have to be employed by Unga Group to join.

Question 5

What are the benefits of being a member?

Accepted Answer

After 3 months of active membership, you can obtain credit facilities at favorable interest rates. We also offer savings products at competitive interest rates and give out annual dividends and rebates.

Question 6

How does one become dormant?

Accepted Answer

An account goes into dormancy once no continuous transactions have been made in the last six months.

Question 7

What are the implications and how do I become active again?

Accepted Answer

With a dormant account, you will not be able to access any of the Sacco benefits. However, reactivation is simple — fill an activation form and resume the monthly contribution of KES 1,000.

Question 8

Can I transfer my deposits from another Sacco?

Accepted Answer

Yes. A member who transfers directly from another Sacco is immediately eligible for all benefits of a full member.

Question 9

Can I transfer my membership to another person?

Accepted Answer

No. Membership is individual and not transferable. However, members may nominate beneficiaries.

Question 10

What happens to my savings if I resign from the Sacco?

Accepted Answer

Upon resignation, your deposits (less any outstanding obligations) will be refunded within 60 days as per Sacco policy. Share capital can be transferred to another member or retained in the Sacco.

Question 11

Can I increase my share capital beyond the minimum?

Accepted Answer

Yes. Members may voluntarily contribute beyond KSh 20,000.

Question 12

What is the loan qualification criteria?

Accepted Answer

Six months of active membership is required. Members transferring their active membership from other Saccos qualify for loans immediately. All loans are subjected to the 5 Cs of Credit — Character, Capacity, Condition, Collateral, and Capital.

Question 13

What collateral and guarantors are required?

Accepted Answer

All loans must be secured by either own deposits, guarantors' deposits, or acceptable collateral such as logbooks and title deeds. Guarantors must be active members with deposits equivalent to the amount they intend to guarantee, and their loans must be regular with no default.

Question 14

How do I get loan guarantors?

Accepted Answer

Introduce friends, colleagues, and relatives to join Unga Sacco, and network with other members for co-guarantee arrangements.

Question 15

What happens with loan default?

Accepted Answer

Members are advised to borrow within their ability to repay and utilize borrowed money for income-generating projects. Loan default increases Sacco loan provisioning costs and inconveniences guarantors. Members with income issues are encouraged to reach out to the Sacco early to discuss repayment options.

Question 16

Do you check CRB before lending?

Accepted Answer

The Sacco is registered with the Credit Reference Bureau (CRB) for both positive and negative credit information sharing.

Question 17

What happens if a member delays loan repayment?

Accepted Answer

Members are given options to choose their convenient loan repayment date. Late repayments attract a penalty and affect future loan eligibility.

Question 18

Can a member consolidate loans?

Accepted Answer

Yes. A member can consolidate their loans into one for ease of payments.

Question 19

Do savings earn interest?

Accepted Answer

Yes, savings earn interest (rebates).

Question 20

What savings products does Unga SACCO offer?

Accepted Answer

We offer Member Deposits, Holiday Savings Account, Toto (Children's) Savings Account, and Share Capital — each designed to help members achieve different financial goals.

Question 21

How much is the minimum contribution?

Accepted Answer

The minimum monthly contribution is KSh 1,000.

Question 22

Are my funds safe at Unga Sacco?

Accepted Answer

Yes, your money is safe in the Sacco. We are regulated by the Sacco Societies Regulatory Authority (SASRA) and all member deposits are protected through strict compliance with regulatory standards, sound financial management, and regular audits.

Question 23

How do I remit funds to the Sacco?

Accepted Answer

You can remit savings through M-Pesa Paybill number 400200 (use your Member Number as account number 01120000604800), the Unga Sacco app, or M-Unga *483*129#.

Question 24

What is the difference between Share Capital and non-withdrawable deposits?

Accepted Answer

Share capital represents a member's portion in the equity of the society as a co-owner. It is not refundable but can be sold to an existing member upon exit, is not eligible to secure loans or guarantee, and earns annual dividends. Minimum share capital is KSh 20,000. Non-withdrawable deposits are refundable member deposits used to secure loans and guarantee. Members must make a minimum monthly contribution of KSh 1,000 to maintain active status. Deposits earn annual interest depending on trading results.

Question 25

How can I find you?

Accepted Answer

Main Branch — Unga Sacco Society Limited, Ngano House, Commercial Street, Industrial Area, P.O. Box 30386-00100, Nairobi, Kenya. Mobile: 0714 095 059 / 0737 724 662. Email: ungasacco@unga.com

Frequently Asked Questions

Membership questions

Loans questions

Savings questions

General questions