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Chama Account

This account is meant for members belonging to a financial group (known in Kenya as "Chama") with a collective investment goal where they can save and earn attractive returns.

Features

At least one third of members in the group must be UN DT SACCO members

The group should have at least three signatories to the account

Minutes of the group meeting authorizing the officials to open the account shall be required to open the account

The group must have a registered name

The mode of contribution is by check-off, standing order or by direct deposit. Lumpsum deposits are encoureged

Withdrawal fees shall be as stipulated in the FOSA Tariff Guide and shall be limited to once a month

No monthly charges such as ledger fees, account maintenance, etc.

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