United Nation SACCO Society Ltd Description
United Nations SACCO Society Ltd (UN SACCO) was started in 1975 with the objective of providing a mechanism for United Nations (UN) employees in Kenya to save and borrow at low cost in order to meet the employees’ socio-economic needs.
The UN SACCO membership has grown from 131 members in 1975 to 3,692 in 2010. In the same period, members’ deposits have grown from Ksh 290,000 to Ksh 3.7 billion while the share capital is at Ksh 121 million. The membership of the SACCO is open to all local and international staff of UN agencies within the Eastern African Region.
The SACCO (UN SACCO) was started in 1975 with the objective of providing a mechanism for United Nations (UN) employees in Kenya to save and borrow at low cost in order to meet the employees’ socio-economic needs. derives its mandate from the Co-operative Societies Act 2004 and its revised Act of 2008, the SACCO Societies Regulatory Authority (SASRA) guidelines 2010 and its By-laws.
The affairs of the SACCO are directed by the Board of Directors (BOD) as provided for in the By-laws and overseen by the Supervisory Committee (SC) with both reporting to the AGM. The BOD has the following subcommittees: the Executive, Credit, Finance & Investment, Audit & Information Technology (IT) and Human Resource (HR) & Education.
Day to day operations of the SACCO is carried out by the Chief Executive Officer (CEO) and other employees. In addition to our wide range of financial products and services, UN-SACCO provides customers with the convenience of a number of additional services.
United Nation SACCO Society Ltd
“The preferred financial services provider.”
“To uplift the socio-economic status of our members by offering them high quality, affordable and diversified financial services”.
The UN SACCO in its commitment to realize the vision and mission upholds the following core values:
The success of the SACCO in pursuit of its mission will be ensured by close collaboration among its members, CMC, SC, and the staff. This will enhance the quality of services to the members. UN SACCO also encourages respect for diversity among its members and employees.
The SACCO is accountable to its members, the government and other stakeholders. It ensures that the culture of accountability is embodied in its internal stakeholders both individually and collectively.
In developing its products/services as well as in the provision of its services, the SACCO ensures that these are customer-driven so as to satisfy diverse members and their changing needs.
The SACCO endeavors to ensure transparency at all times when dealing with its stakeholders. The internal stakeholders are also expected to be sincere and transparent in their dealings with the SACCO.
The SACCO adheres to impeccable and beyond reproach professional and personal standards in the conduct of its affairs. The society offers its services effectively and efficiently to all members.
The SACCO upholds a high degree of honesty and integrity in serving its members and other stakeholders.
United Nation SACCO Society Ltd Membership
The UN SACCO membership has grown from 131 members in 1975 to 4,047 in 2011. In the same period, members’ deposits have grown From Ksh 290,000 to Kshs 5 billion while the share capital is at Ksh150 million. The operations of the Sacco were initially done in the one-roomed office in Block G (UN complex) but the business is currently run in the UN SACCO block.
The Sacco staff has also grown both in numbers and professional experience. The membership of the UN SACCO is open to all local and international staff of UN agencies. For membership qualification of the UN SACCO, you need to fill in a membership application form, pay a membership fee of Kshs. 1,000 raise share capital minimum of Kshs. 50,000 and make monthly deposits contributions of not less than Kshs. 2,300 per month.
United Nation SACCO Society Ltd Products
Savings and Products:
♦ Chama Account
♦ Children’s Account
♦ Fixed Deposits
♦ FOSA Savings Account
The product is designed for members who have exhausted their deposits borrowing ability but have the capacity to repay through payroll.
♦ Salary personal loan
♦ Education Loan
♦ Instant Loans
♦ Loyalty Loan
♦ Normal Loan
♦ Premier Loan
♦ Secured Asset Loan
♦ Seniors’ Loan
♦ Settling Down Loan
United Nation SACCO Society Ltd Services
This is a mobile banking product that enables customers to access cash withdrawal, cash deposit through M-SACCO/MPESA.
FUNDS TRANSFER (EFT)
Using this service Unsacco is able to undertake remittances and funds transfer for customers from the Sacco to any bank account throughout the world. Payments are processed in the form of RTGS and Electronic Funds Transfer (EFT).
The SACCO has entered into a strategic alliance with the Cooperative Bank of Kenya to offer ATM cards commonly known as Sacco Link which allow our members to access their funds in the FOSA account through Coop Bank ATMs. The card can be used for shopping at merchant outlets at no additional cost and can be used at any other VISA branded ATMs.
Frequently Asked Questions About United Nation SACCO?
What is UNSACCO?
UNSACCO is a savings and credit co-operative society for employees of United Nations and other affiliated agencies with an aim of creating an environment to encourage members to save and get affordable credit.
Who can join UNSACCO?
UNSACCO membership is open to:
- Employees of United Nations Agencies
- Employees of Diplomatic Missions and International Organizations in Kenya.
- Immediate family members of the primary members – Spouses and Children.
- Employees of UN SACCO
What is the minimum amount i can contribute to UNSACCO?
The minimum per month contribution is Ksh 2,300.
Can I keep saving with UNSACCO even after ceasing from UN?
Absolutely yes, all you need to do is place a standing order or give postdated cheques towards your monthly deposits.
How much can i borrow from UNSACCO?
Loans are pegged on a members deposits like for a normal loan it’s given three times (Normal loans) or four times (Premier loans) and seven times for the secured asset loan , to a maximum amount of Ksh. 20 million.
Must I have Guarantors when applying for a loan?
With the exception of secured asset loan, motor vehicle loan or loans within a borrower’s deposits, all other loans must be guaranteed by at least three members of the society.
How do i withdraw my membership from UNSACCO?
- A notice of sixty days is required in case of any refunds due to the member.
- For an immediate withdrawal one will have to sign a surrender of 1.05% of the deposits being withdrawn.
United Nation SACCO Society Ltd Contacts
The Co-operative Society Office is located next to the UNFCU block inside UN Complex Gigiri. The address is as follows: –
P.O. Box 2210 – 00621, Village Market, Nairobi Kenya
Next to the UNFCU block inside the UN Complex
+254 20 512 2700/3, +254 20 512 4737 & +254 20 512 3852
Gigiri Square – Second Floor
Next to Warwick Center near the American Embassy
+254 20 512 2700/3, +254 20 512 4737 & +254 20 512 3852
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