Below is how to withdraw your membership from the Kenya USA Diaspora Sacco:

The following steps will be followed:

Full Withdrawal

  1. A member must inform the society by writing to the committee of his or her intention to withdraw.
  2. The member will be required to give the Sacco 60 days notice.
  3. A refund will always be given less any monies and loans owed to the society and its affiliated partners.
  4. A conditional or early refund may be considered subject to board approval if the member agrees to pay an early withdrawal commission of 10% on net savings due, in addition to a processing fees. In this case the funds will be disbursed within 2 working days after approval.
  5. A processing fee of 1% on net savings due, but not less than 1,000 Kenya shillings will be charged.

*Please note that only the Main Savings net balances will be refunded by the Sacco. The Share Capital is not refundable but it is transferable to a willing member of the Sacco.

Partial Withdrawal

The Sacco may consider partial withdrawal of Main Saving on rare circumstances such as emergencies under the following terms and conditions:

  1. Make a formal application to the Sacco clearly stating the reason(s) and the amount required.
  2. The partial withdrawal amount cannot exceed 50% of member total Main Savings.
  3. The member must be willing to pay an instant withdrawal commission of 10% on amount to be withdrawn in lieu of 60 days notice period.
  4. No processing fee will be charged on partial withdrawal.

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February 11, 2024

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