Sacco Information And Reviews.
Formerly, Muramati Sacco, Unaitas Sacco stands among the best Saccos in Kenya to date. It is the most sought after Sacco by small investors and best for business investment. It speaks volumes for a Sacco to have a membership of over 250,000. They are definitely getting a 5/10 as they must be doing something right. 5/10 as there are mixed reviews. Good for business investments and not so good for personal savings as compared to tier1 Saccos.
What Do We Know About Unaitas Sacco?
Unaitas is a deposit-taking Savings and Credit Cooperative organization licensed under the Sacco Societies act of 2012. Initially, the Sacco was registered in 1993as a cooperative society, tried to join the banking institution and benched that plan after the CBK freeze in 2020. Have they won awards? Yes. Are they first to come to mind when looking to join a Sacco? Definitely not. However, they have and are still around since 2007.
What Products does Unaitas Sacco Offer, and what is it Best Known for?
Savings: Jipange Savings Account. General savings account with competitive interest rates, free-standing orders and 3 withdrawals per year. Chamas and junior Savings account products are also available for a ‘fixed deposit’ based type of savings.
Insurance Apart from other Sacco related loans and Savings, the Unaitas Sacco offers Motor, homeowner, medical and personal accident insurance. Businesses, farmers and Institutions also benefit from this product to cover employees or perils. Livestock or crops.
The Unaitas loan products are highly segmented and broken down to cater to specific needs. The website has scantily shared this information and strongly insist that interested parties visit their offices.
Eligibility and requirements at Unaitas Sacco
Eligibility is open to all members who fit the membership requirement. Unfortunately, you cannot join Unaitas Sacco online but have to visit their offices to sign up. The requirements to join include;
- Membership minimum deposit of Ksh.5,000
- ID/Passport copy.
- Passport photo.
- Utility bill/Tenancy agreement.
- KRA certificate pin copy.
- Ksh.1000 for buying investment shares.
Where Can You Download Unaitas Sacco App?
The unaitas Sacco app is not available on Google Play Store or Apple Stores. To access mobile-based services, members dial *493# to make withdrawals, transfers and free utility bill payments. Through Mo-Cash one can also access loans up to Ksh.10,000 and repay in a month.
How Can You Get A Loan From Unaitas Sacco App?
Depending on the loan type, members can enjoy long term loans at an interest of 1-1.5%.
Other requirements include being a member and having saved with the Sacco for at least 3 months.
Security will vary with the type of loan. As in long term loans require a movable asset or guarantor ship equal or more o the value of the loan. Short term loans on the other hand are taken after a credit score appraisal and proceeds from cash deposits.
One more thing, financial proof of business, Mpesa statements or bank statements are needed for all loans. At the Saccos’ request and discretion ofcourse.
Disbursements and Repayments at Unaitas Sacco.
Repayments and deposits first and foremost arent free! Despite mobile money transactions being seamless nowadays, Unaitas takes the crown with high transaction charges on deposits, balance queries and withdrawals. Regardless the Sacco Paybill is 544700.
Loans taken under Unaitas are paid into the customers Unaitas account opened during membership registration. If on payroll, the calculated monthly deductions will be checked off of your payslip, if not, an arrangement is made between you and the Sacco on repayment terms and a guarantor placed. They could range from little deeds, stocks, fixed deposits or movable assets deemed fit by the Sacco.
Dividends And Shares At Unaitas Sacco.
In 2020, Unaitas paid out Ksh.500 million to its members. The 320,000 members were issued with a 7% dividend plus an additional 3% for each share held. These are statistics for the official report, but member information on the ground is divided.
What Unique Does Unaitas Sacco Have To Offer?
Unaitas Sacco offers banking services such as MoneyGram and DIaspora Swift payment services. That and visa branded ATMs.
Pros and Cons of Unaitas Sacco
Cons: It’s no secret that Sacco has been prone to cyber-attacks and lost millions. Weak IT and Security systems. / Paybill charges are high on mobile transactions.
Pros: Great Sacco for business investments./ Very responsive on Social media.
How can I Contact Unaitas Sacco?
It’s clear that to access Unaitas services you need to visit their offices at Cardinal Otunga Plaza, Cardinal Otunga Road, Nairobi or branches.
Working hours are Mondays through Friday 8 am-4 pm. Closed on Sundays.