falemsacco

community builder

About us

FALEM Savings and Credit Cooperative Society Ltd was

constituted in 2022 and is duly registered with the registrar of Cooperatives at the Ministry of Trade, Industry and Cooperatives.

FALEM SACCO Ltd is owned, used, and controlled members. The members become economically

empowered in two ways; personal development and prosperity through training on investment and management.

FALEM SACCO Ltd cannot be dissolved by the death, insolvency, lunacy, permanent incapability of the

members. Therefore, it has perpetual existence and separate legal entity.

Asset Finance Loan

Eligibility is 5 times of savings less other scheme loans outstanding.
Maximum entitlement ksh. 3,500,000.00
Interest rate 1.25% pm on reducing balance.
Payable over a maximum period of 60 months
Open to other land projects in addition to those of the Sacco.

Elimu Bora Loan

Issued up to times 3 of education savings.

Interest rate is 12% P.a reducing balance

Payable over a maximum period of 36M

The loan is processed within 7 working days and disbursed to the Fosa account.

Biashara Loan

Issued up to Ksh1,000,000.00 depending on the total amount of savings.
Interest rate is 15% P.a reducing balance
Payable over a maximum period of 36M
The loan is processed within 7 working days and disbursed to the Fosa account.

Afya Bora Loan

Eligibility is 5 times of savings less other scheme loans outstanding.
Maximum loan KSh225,000.00
Interest rate 1% pm on reducing balance.
Payable over a maximum period of 12 months.
Maximum age on entrance is 65yrs.

Boresha Loan

Maximum entitlement ksh. 200,000.00

Interest rate 2% pm on reducing balance.

Payable over a maximum period of 12 months

Eligibility is 4* of savings less other scheme loans outstanding

At least 3 guarantors who must cover the loan

Pro- forma invoice is required.

Discounts are only allowed through Kenya bankers Sacco and no payment is made directly to the

vendor for cash buyers.

Elite Loan

Issued up to 4 times of main savings.

One must have savings of Ksh1,000,000 and above to qualify.

Interest rate is 1.25% P.m reducing balance

Payable over a maximum period of 72Months

Minimum monthly contribution of KSh5,400.00

Application deadline is by 10th of every month to be disbursed by 10th of the subsequent month.

OUR CORE VALUE

Caring
Integrity
Innovative
Teamwork
Accountability
Excellence

SOCIETY VISION

To be the leading SACCO providing quality and dynamic services to our members.

MISSION STATEMENT

To give members opportunity to mobilize savings, provide affordable credit facilities
for promotion of the social economic welfare of members through prudent management and
diversification of products, while recognizing the interests of stakeholders.

BOARD MEMBERS

The Board is the governing body of the Sacco who are mandated with the over all oversight roll of the Sacco to ensure that the organization is well-managed and that its financial situation remains sounds .