A frequently asked questions

SACCO is an abbreviation for Savings and Credit Co-Operative. SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative. SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative. SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative. SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative. SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative.
SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative.
SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative.
SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative.
SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative.
SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative.
SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative.
SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.

SACCOs are governed by the SACCO bylaws which state the objectives, membership, share capital, organization structure, management and lending regulations.

K-NAD stands for Kenya North America Diaspora Savings and Credit Co-operative society.

On July 2016, a group of women came together and formed a forum to discuss how to open an all women Diaspora Sacco. The Idea was birthed on Facebook forum and the main reason was to come up with a formal way of investing together as Kenyan Women in the Diaspora.

A member is anyone who signs the application for registration and is admitted in accordance with the K-NADs Bylaws.

To be eligible for membership:

• Be a Kenyan over 18 years old, residing in the North America or previously resident in North America engaged in gainful employment and have returned to Kenya.
• Be of a good moral character and sound mind.
• Pays registration fee of 15,000ksh and makes monthly contribution of 5,000ksh every month.

Yes. As long as the said member shall belong to no more than one Sacco Society having similar objectives as mentioned above.

Share capital is the permanent member contribution toward the Sacco capital and forms part of Sacco equity. Shares cannot be withdrawn even on exit from the Sacco but can be transferred to another willing member.

As a member of a SACCO, you are allowed to borrow up to 4 times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

A dividend is a member’s share of the surplus of the society which is divided amongst its members. After the overhead costs and other expenses are paid, reserves for loss and for expansion services are put aside, the remaining Net profit from loan is returned back to the members as dividend.

A member shall give the following securities for loans

• The shares and deposits of a member
• The shares and deposits for guarantor(s),
• any other as the committee may consider necessary.

Provident that: a guarantor has already taken a loan and has already guaranteed three loans: a guarantor is not a member of the committee or an endorser of such.

As a member of a SACCO, you are allowed to borrow up to 4times their savings, provided they give a form of security. If you wish to take a loan after the required 6 months of regular contribution and depending on the type of loan, you will be eligible to borrow up to four times (4x) the amount you have in your Sacco Main Savings Account.

You can take a loan after the required 6 months of regular contribution to your Main Saving Account (MSA) without late payments. This will depend on the type of loan, and you will be eligible to borrow up to four times (x4) the amount you have in your Sacco Main Savings Account. The more you contribute, the higher the amount you can borrow through the Sacco.

Transfer by Wave

Install the wave app into your mobile phone from Google Play Store or Apple App stores.

https://www.wave.com/

1. Send To Recipient Name: Type K-NAD SACCO
2. ​Click on New Bank Recipient > ​
3. Select Co-operative Bank >
4. ​Type Account ​Number 01158537312300 >
5. Re-Enter Account Number > ​
6. Save.
7. Enter amount ​you wish to send >
8. Click send.
9. After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by PoaPay

Log on to www.poapay.com

1. Register as a user >
2. ​Enter K-NAD Sacco as your recipient’s contact information and Account # 01158537312300 >
3. Enter amount you wish to send >
4. ​Indicate your Membership Number and name > ​
5. Send the money.

After payment, login to your web portal or app and send payments details instructing us on how to allocate your deposit. You can also contact Poa Pay customer service on 1-205-267-6043 or email at customer_service@PoaPay.com ​ for assistance.

Transfer by M-Pesa

Using a Kenya Safaricom Simcard enabled phone/line.

1. Click on Lipa na Mpesa >
2. ​Enter Business no. Pay Bill 400200 >
3. ​Account # 01158537312300 >
4. ​Enter amount you want to send >
5. Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by World Remit

​Log on to www.worldremit.com

1. ​Click send to Kenya >
2. Bank Deposit > ​
3. Deposits to Co-Operative’s KES Accounts >
4. ​Enter Account # 01158537312300 >
5. ​Enter amount >
6. Click to send >
7. ​Indicate your membership Number and Name and send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Western Union

Log on to www.westernunion.com ​

1. Register as a user >
2. ​Click Send to Kenya >
3. ​Enter ​the amount you wish to send >
4. ​Enter K-NAD Sacco Account # 01158537312300 >
5. Indicate your membership number and Name and >
6. ​Click send.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Money Gram

Log on to www.moneygram.com

1. ​Register as a user >
2. ​Enter your K-NAD Sacco Account # 01158537312300 and >
3. ​Select K ​-Sacco as receiver >
4. ​Choose how to pay >
5. ​Enter amount >
6. ​Indicate your membership number and Name >
7. ​Click send the money.

After payment login to your web portal or app and send payments details instructing us on how to allocate your deposit.

Transfer by Local Bank RTGS

To do an RTGS transactions from a Kenyan Bank Account to K-NAD Sacco Account. You will need the following:

1. Name of the Bank: Co-operative Bank of Kenya >
2. Branch: Haile Selassie Avenue >
3. ​Swift Code: KCOOKENA >
4. ​K-NADSACCO Account # 01158537312300.
5. Amount should be in KES.

Transfer by US Bank Wire Transfer

To initiate a Wire Transfer you will need the following:

1. Name of the Bank: Co-operative Bank of Kenya
2. Branch: Haile Selassie Avenue
3. ​Swift Code: KCOOKENA
4. ​KNADSACCO Account # 01158537312300
5. Amount should be in KES.

SACCO is an abbreviation for Savings and Credit Co-Operative.
SACCOs are member owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers.

• To Empower, encourage and promote developments within the members.
• To teach wise use of their money and efficient management of their limited resources.
• To teach members how to create an asset that helps them to have a guarantee and collateral for future loan access.
• To make finance more accessible for members when they need it.

The most basic function of SACCO Society is financial inter-mediation bringing savers and borrowers together in a system that enables them to pool their money as savings and shares, and after capturing funds transforming into loans by calculating all of the costs of doing this business to make profitable/useful to both parties (the SACCO Society and its members)

• SACCOs have lower interest rates and these rarely change.
• Most SACCOs in Kenya have been lending at 12% per annum, which is lower than the banks have offered even when market rates have been at the lowest.
• Banks constantly revise their lending rates while SACCOs will rarely do this.
• As a member of the SACCO, you earn interest on your savings which are part of what you have borrowed lowering your borrowing costs further.

While repaying a SACCO loan, a member is expected to still maintain the same level of monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

A member may at any time withdraw from the Sacco by giving a written notice and a refund given within 60 days.

The refunds are:

• Any dividends or interests due to him prior to the date the membership ceased
• Any other sums held by the society on his behalf after deductions of any sum owed to the society.