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FOSA INTRODUCTION

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Jogoo Sacco Society has continued to grow, creating a need to provide a one stop shop for our members financial needs. It is in this regard that, the Sacco has transformed to a deposit taking Sacco and opened a FOSA to meet members’ banking needs hitherto provided by banks.
The FOSA will extend additional financial products and services to complement those already being offered by the Backoffice

MEMBERS BENEFITS
a) Provide other short and long term credit at competitive and friendly interest rates ( apart from the usual ones that exist)

b) There will be No need to worry about 2/3 rule so long a members salary is processed through the Fosa account

C) members will Process their salary through FOSA at cheaper rate than the banks

D) Dividend and interest on deposits will be processed easily at their convenience

E) Provision of a saving facility to the members

F) Access their salary in advance when in need

G) Higher returns on dividends and rebates since the Sacco will generate more revenue

H) access to ATM services (through Sacco Link Card), thus easy access to funds

I) access their money immediately the loan are authorized through their FOSA account

OTHER BENEFITS
J) Encashment of Cheques
K) Sale of bankers cheques
L) Offering standing orders to account holders

SACCO SOCIETY BENEFITS
(Members are a stakeholder)

a) Increase in Sacco Liquidity
b) More income generation channels hence more returns to the shareholders in form of higher dividends and interest on savings

C) Attractive to new membership hence increase in numbers

Lets embrace changes in technology

Pamoja Twaweza

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