If you want to take a loan from KUSCCO Sacco, below are the requirements:
The loan policy followed by cooperative societies is issued by the Commissioner for Cooperative Development. Some of the requirements by the existing policy are:
• A society must have been in existence for at least 6 months (from the date of registration), for its members to qualify for cooperative loans
• You must have been a member of a cooperative society for at least 6 months to qualify for a loan
• Only members who would have contributed a minimum of Ksh 600 in shares or deposits can qualify for a loan
• The society’s books of account must be up to date for its members to qualify for loans
The interest on loan is low, it does not go beyond 12% per year.