These are SACCO non withdrawable savings, these savings are contributed by all members of the society every month. Retired members contribute a minimum of Kshs. 500 and those who are still working a minimum of Kshs. 2,000 every month.

Non withdrawable deposits are used as collateral against borrowings and also acts as a base on which determines the amount a member qualifies as loan. i.e. (3) three times for ordinary members, 5 (five) times for preferential members and (6)six times for premium members. Deposits earn interest every year end depending on the performance of the society.

Deposits Withdrawal Procedure

  1. Retired member are allowed to withdraw their deposit if they have no loan with the society and have not guaranteed any other member any credit facility with the society.
  2. Those retired members who opt to continue with their membership are allowed to withdraw but remain with at least Kshs.1,000 as deposit and also ensure they channel their monthly pension through TNT FOSA in which standing order shall be placed to be deducted a minimum of Kshs. 500 to build their deposits again.
  3. Those still under employment and wish to withdraw their deposit the following procedure must be followed.
    i)      Ensure they have no credit facility with Tharaka Nithi Teachers SACCO. Note Offsetting of loan against one deposit is not allowed.
    ii)     They must not be a guarantor of any credit to any member of the society.
    iii)    One must bring a clearance certificate from his or her employer.
    iv)    One must give the society a notice of 60 days upon fulfilling all the above.
  4. Savings contribution paid in cash or cheque to boost deposits outside the check off systems In excess of one third of a member’s basic salary shall remain in the society for a period of three months to qualify for any loan, unless shares transfer from other society.