These are broken down into short term and long term accounts for members with children aged below 18 years of age. The Sacco enables the parents to set aside savings for their young ones from tender age. Below are features for this accounts;

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                                    SHORT TERM JUNIOR SAVINGS (SJS)

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1.  Registration/ Entrance fee is Ksh 500.

2. The minimum monthly deposit is Ksh 500 per child, but a member may choose to deposit Lump sums to 

    Kinga SACCO bank account.

3. Savings can either be made from principle member payroll check-off or depositing directly to KINGA SACCO

    bank account

4. Savings on this account cannot guarantee any loans.

5. Savings will earn an interest of 6% per annum. This will be calculated once at the end of the year on a ‘pro-rata’ basis and 

    rolled back to the juniors account after AGM, i.e. the interest earned is not expressly cashed out after an AGM but added to

    Junior account balance and paid out within the normal withdrawals allowed under this account.

6. Withdrawal of deposits is allowed 3(three) times in a year. However, a balance of Ksh.500 must be maintained at

   any given time as an indication of an active account.

       

                                        LONG TERM JUNIOR SAVINGS (LJS)

1. Registration/ Entrance fee is Ksh 500.

2. This is a separate account distinct from Short Term Junior Savings

3. The minimum monthly deposit is Ksh 500 per child, but a member may choose to deposit Lump sums to Kinga SACCO bank account.

4. Savings can either be made from principle member payroll check-off or depositing directly to KINGA SACCO bank account

5. Savings on this account can self-guarantee any loan taken by principal member. The loan which is fully self-guaranteed by this account is not subjected to the 3.5 multiplier and will not need the member to provide payslip or bank statement to for appraisal and it can be serviced off payroll.

6. Savings will earn an interest similar to that earned by principal member savings/deposits per annum as declared in AGM. This will be calculated once at the end of the year on a ‘pro-rata’ basis and rolled back to the juniors account after AGM, i.e. the interest earned is not expressly cashed out after an AGM but added to Junior account balance and paid out within the normal withdrawals allowed under this account.

7. No withdrawals in this account for a minimum of 5 years. If a member withdraws before attaining the mimimum period outlined, the Sacco will charge 50% of all interest previously earned.

8. Upon achieving the minimum 5 years of saving, the member will be free to withdraw by giving a 1 month notice. Any loans guaranteed will need to have been cleared before withdrawal is processed.

9. On attainment of 18 years, this account assumes full membership rights.

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                                                  SAFARI SAVINGS

1. A way of members to save for their personal holiday safaris.

2. Savings can either be made from principle member payroll check-off or depositing directly to KINGA SACCO bank account

3. Can be withdrawn once a year

4. Savings will earn an interest of 2% per annum. This will be calculated once at the end of the year on a ‘pro-rata’ basis and rolled back to the safari savings account after AGM, i.e. the interest earned is not expressly cashed out after an AGM but added to Safari Savings account balance and paid out within the normal withdrawals allowed under this account.

5. Savings on this account cannot guarantee any loans.

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