Frequently Asked Questions

People are wondering many things about participating in Inukeni. On this page you will find answers to some of the frequently asked questions. Please send any questions that you may have to the comments box below:

Q1. How do I complete the application form?

Use CAPITAL LETTERS to complete this Application Form throughout.

Attach a copy of your Identity Card (ID) or Passport.

Attach two (2) passport size photos.

Pay a non-refundable Membership Fee of KES 100 to the Co-operative Society of Ubricans.

Pay a non-refundable Registration Fee of KES 500 for processing this registration.

Purchase a minimum of 50 Non-Withdrawable Inukeni Sacco Shares at KES 20 per share.

Save at least KES 1000 every month.

Submit monthly savings regularly. Failure to submit monthly savings for three consecutive months will lead to suspension.

If suspended, pay KES 300 fine readmission fee.

Completely cease to be a member of the society for not saving for six (6) consecutive months.

Nominate in writing at least one person to whom, upon your death, your shares, money, deposits, interest or dividends shall be transferred or paid out.

Your nominee must provide irrefutable proof of your death to receive your shares, money, deposits, interest or dividends.

Give a 60-day notice if you wish to withdraw from Society.

You could withdraw from Society by selling or transferring your Shares (except the 50 Non-Withdrawable Cooperative Shares).

Upon withdrawal, Society will reimburse any monies due to you after deducting any liabilities to the Society as a borrower, guarantor, endorser or otherwise.

Pay KES 500 readmission fee, if you wish to return after withdrawal from Society.

Comply with all the By-Laws, Policies and Procedures of the Society.

Membership could be ceased by:

Death

Expulsion

Voluntary withdrawal

Bankruptcy