Difference Between Deposits and Share

Dear Members,

Did you know you can invest in share capital and earn more returns?

Difference between deposits and share.

Deposits are withdraw-able members’ savings while shares or share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member. Currently, each member must have a minimum of Ksh10,000 in share capital.

v  Deposits earn interest while share/share capital earn dividends

v  Deposits can be used as loan security while share cannot be used.

Why invest in shares?

Shareholders earn dividends annually at a rate based on SACCO’s performance. The trend has been; (2013-15%, 2014-15% and 2015-15%) compared to deposit interest trend of 2013-9.33%, 2014-10.42% and 2015-10.64%

How do I grow/increase my shares?

ª  Direct deposit to the SACCO’s account

ª  Buy from an existing member who has more than the minimum share and

ª  Buy from a member exiting the SACCO. KINGA SACCO is currently holding shares from members who have left….. Hurry while shares last!!! Contact Lilian Sitawa ASAP!

In addition to all channels available for remitting funds to KINGA SACCO Account, we have also introduced the option of sending through M-pesa

F  Go to Safaricom M-pesa menu

F  Lipa na M-pesa/payment services

F  Pay bill

F  Enter Business Number 400200 (Note this this Co-op bank’s paybill no.)

F  Enter Account number 01120062957000 (Note this is Kinga Sacco’s a/c no.)

F  Enter amount you wish to pay

F  Enter M-pesa pin

F  Confirm the pay bill number 400200, Kinga Sacco a/c number 01120062957000 and the amount; then click ok.

F  M-pesa will send an acknowledgment of your payment

F  Co-op bank will send an acknowledgment of your payment

F  Share the Co-op bank acknowledgment of your payment message with Lillian Sitawa on 0720-720896