FOSA (Front Office Services Activity) is a SACCO product that offers basic banking services similar to those offered by commercial banks. FOSA however is not a clearing agent with Central Bank of Kenya (CBK) and therefore cannot clear.
What is the difference between FOSA and BOSA savings?
FOSA savings can be withdrawn over the counter (this is a banking facility). BOSA savings are monthly SACCO remittance and can only be withdrawn upon retiring from Sacco membership. FOSA savings can be used to offset BOSA loans or boost BOSA savings. BOSA savings cannot be used to offset loans unless upon default. FOSA is an innovative product to enhance the members’ convenience and boost the SACCO’s income.
Members admitted in accordance with the membership policy
A member becomes eligible after a minimum membership period of three months and on fulfilling all requirements of a specific loan product. Members who transfer their deposits from another Sacco are exempted from the waiting period.
A loan application must be done in writing on prescribed forms which must be fully filled. The applicant must attache all relevant documents. Alteration will not be allowed.
In addition to shares and deposits a member may invest in a saving account. The Sacco provides the following savings products:
Interests on loans are reviewed from time to time by the BOD on recommendation of Management.
Yes, that is allowed. All that one needs to do is to instruct in writing
Yes by communicating the same in writing
Any active member in good standing is allowed to be a guarantor provided that one has not over guaranteed.A guarantor must be willing and able to repay the loan guaranteed if the loanees fail to pay.
Guarantors are jointly (together) and severally (individually) liable for the repayment of a loan in the event of the borrower’s default.
Yes, that is allowed.
On loanees request the repayment period may be altered at any stage of repaying the loan provided that the request is within the limits of a particular loan term, and is endorsed by all guarantors, if extension.
Get any checkoff loan within 24 hours, upon presenting a fully filled application form. We guarantee the best service delivery.
Its a Sacco I can advise all to join especially young people who are development and academically minded..my school fees loan was processed within less than 1 hour after submitting the documents required..its a super Sacco
Am proud of your services. Hekko to Naromoru Branch team. You are doing a great job.
Am proud to be associated with this wonderful and highly potential institution.
Very good of unison Iam very proud of the sacco
Always on time…. Can’t regret joining UNISON Sacco
Im Greatful and thankful to be a member of Unison Sacco for its best financial and customer services..Keep up..God bless…..
My favorite sacco of all time.
Unison is the best Sacco I have ever seen keep it up.and grow widely
I am Proud to be associated with Unison Sacco