What is FOSA?

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FOSA savings can be withdrawn over the counter (this is a banking facility). BOSA savings are monthly SACCO remittance and can only be withdrawn upon retiring from Sacco membership.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.