These are non-withdrawable deposits contributed monthly by all members of the Society.
Retired members contribute a minimum of KShs. 500 per month, while employed members
contribute a minimum of KShs. 2,000 per month.
Non-withdrawable deposits are used as collateral for loans and also form the basis for
determining the loan amount a member qualifies for, as follows:
- Ordinary members: up to 4 times their deposits
- Preferential members: up to 5 times their deposits
- Premium members: up to 6 times their deposits These deposits earn interest annually, subject to the Society’s financial performance.
Deposits Withdrawal Procedure
For retired members:
- Retired members may withdraw their deposits provided they have no withstanding loan with the society and they have not guaranteed any other member’s loan.
- Retired members who choose to continue their membership may withdraw part of their
deposits but must:
- Retain a minimum balance of KShs. 1,000, and
- Channel their monthly pension through TN FOSA, with a standing order to deduct at least KShs. 500 monthly to rebuild their deposits.
For members still in employment:
Members wishing to withdraw their deposits must meet the following conditions:
- Have no active credit facility with Trans Nation DT Sacco (offsetting loans against deposits is not allowed).
- Must not be a guarantor for any member’s loan.
- Provide a clearance certificate from their employer.
- Give the Society a 60-day written notice after meeting all the above requirements.