TIMES U DT SACCO

Your Timely Financier

PRODUCTS & SERVICES

 TIMES U SACCO SOCIETY LTD. formerly
OUR VISION Uruku Rural Sacco Society was registered in
"To be the preferred provider of 1993 as a rural based Sacco, with an initial
transformational, quality and membership of 200.
competitive market driven financial
It was formed to cater for the needs of
solutions to Kenyans. individuals from the Uruku Community. At that
time, there was only one member of staff
OUR MISSION managing the society until 1999 when they
To socio-economically transform the became 2 staff.
lives of our members through the
In 2004, FOSA services were initiated at the
affordable, quality,competitive and
society and at the same time boundaries were
market-driven solutions. opened to accommodate members from other
areas within the greater Meru. In 2009, Uruku
OUR CORE VALUES Rural Society was renamed Times U Sacco
Society Limited (TUSL). Today the total
T Teamwork membership stands at over 30,000 with
members drawn from varied professions and
E Equity
statuses, ranging from farmers to business
P Professionalism persons and salaried employees.
I Integrity
C Creativity & Innovation
HOW TO BECOME A MEMBER OF TIMES U DT SACCO • CRB fee- Ksh. 100
1. You should be aged above 18 years. • Upfront interest of -(1%-1.5%)
2. One must be a Kenyan Citizen or an ordinary resident • Appraisal fee -2.5%
of Kenya.
3. You must be of sound mind. 1. BIASHARA FINANCING
4. You must have a clean criminal record. One must This is a product aimed at financing businesses for both
have not been convicted of any criminal offense or short term and long term products.
not have been sentenced to a jail term of more than 6 • Interest – 1%p.m (reducing basis)
months. • Appraisal fee: 2.5%
5. You must be of good standing character. • Upfront interest :1% p.a
• Loan repayment period is 12 Months
MINIMUM MEMBERSHIP REQUIREMENTS • Loan limit Kshs. 200,000 and below assessment and
1. Fill in a member application form at any of our branch/ permit, above Kshs. 201,000 collateral needed.
at the website
2. Attach copy of ID SOKO LOAN
3. Attach a KRA pin certificate This is a short term loan designed to assist fast moving
4. Payment of an entrance fee of 600/= business with instant loans.
5. Familiarization of the Sacco by- laws that govern the Features;
Sacco membership, contribution, share capital among • Active savings for at least 1 month
others. • Loan limit amounts is from Kshs. 3,000.
6. Contributing the minimum share capital of kshs. 5,000 • Loan payable in 4 weeks at an inter-
7. Contributing to the minimum savings contribution of at est of 7%.
least kshs.200 • Loanee is signed by at least two
guarantors and any amount
MINIMUM REQUIREMENTS FOR LOANING A MEMBER above Kshs. 5,000 assess-
• Loan form fee- kshs. 100 ments are done.

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• Loan processing is done within same day of loan standardized cowshed, boreholes, solar panels etc.
application.
• X4 of shares
• Repayment Period: up to 24 months
2. DAIRY FARMING FINANCING • nterest: 5.5% p.a.
This is a product designed for all members who conduct • Loan fees: Appraisal 3%, Upfront interest 2% p.a
commercial dairy farming.
Can be financed in two forms: 3.DEVELOPMENT LOAN
For development and investment
Option 1: Dairy Tosha (maziwa plus ). Features
This is a loan issued to all clients whose milk pay out point • 3 times of share deposits
is at TSUL. • Repayment period 36 months
Features • Interest rate-7.6% p.a
• X 6 of the 3 months’ average production • Loan processing fees: Appraisal fee 2.5%, Upfront
• Repayment Period of up to 36 months interest 1%
• Interest: 1% p.m.
• Loan processing fees: i.e. Appraisal 2.5%, insurance 4.G.O.E-GROWTH ORIENTED ENTERPRISE
1%p.m LOAN
• Over Kshs. 300,000 the clients ought to have a This is a loan product designed for existing businesses
collateral and insurance for the cows is and that needs longer repayment periods of large loan
mandatory. amounts.
Requirements :-( Must have an existing business).
2: Dairy farming value chain – Features: -
shares • Loan amount ranging from 300,000/= and above
This loan product involves • Max repayment period 36 months. Above 36 Months
purchase and installation of: the period is negotiable.
dairy cows, biogas, chuff cutter, • 3 times of share deposits

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• Interest rate-7.6 % p.a 7.JITEGEMEE LOAN
• Loan processing fees: Appraisal fee 2.5%, Upfront Secured by use of household properties/valuables and
interest 1%p. a guarantors
Features
5. EDUCATION LOAN • Repayment period 36 months
This is a loan product tailor made to fit education needs. • Range: -Ksh 3,000 – 500,000/=
This involves but not limited to school fees loan, hostel • Customer gets 50% of the value of the movable
financing, laptops/iPad purchasing house hold items.
Features • Get 3 times of Share deposit
• X3 times of shares. • Interest - 8% p.a
• Interest rate- 7.6% • Loan fees: Appr fee 3%, Insurance 1.5% p.a.
• Loan processing fees -3.5 %:( i.e. Appr fee 2.5% &
Upfront interest 1%) 8.SMART FARMING
• Repayment period 12 months This is strictly a product designed for those members who
are conducting commercial farming. We have seasonal
and monthly farming.
6.EMERGENCY LOAN
This is a loan product designed to counter misfortunes for Seasonal farming
TUSL members. We should have a history of the Member. French bean, onions, potatoes, tomatoes, gog-
(KYC) gets, green pepper, capcasium etc.
Features • Have a repayment of 6months
• Repayment period 12 months • Have an interest rate of 5.5 %p. a
• Get 3 times of Deposits • Share multiplier 3
• Interest rate-7.6% p.a • Interest to be recovered
• Loan processing fees -3.5%: Appr fee 2.5%, Upfront upfront
interest1%

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Monthly farming 11.MICRO-CREDIT LOAN
Products to be financed include agro vets, farm machin- Loans categories
eries, green houses, farm input shops e.g. wheelbarrow, 1. Individual in a group
sprinklers etc. The individuals in a group are lend money on the below
• Has a maximum repayment period of 36 Months limits:
• Has a monthly repayment. • 1st time loanee- 30,000 with a repayment duration 6
• Share multiplier 3 Months
• Has an interest rate of 5.5% p.a • 2nd time loanee- 50,000 with a repayment duration of
Loan charges 9 months
Appraisal fee 3%, Assessment 300, Agronomist fee • 3rd Time Loanee- 75,000 with a repayment duration of
kshs.500, Upfront interest 2% 12 months
• Above 75,000 repayment period is negotiable
10. ECO-GREEN LOAN 2. Group lending (Group projects)
Products include solar panels, biogas, tanks, water har- We finance projects e.g. water projects, land purchase etc.
vesting bags, borehole drilling, solar water heaters. • Loan will be posted to the officials
Features • The group members will only appear in the micro
• Share multiplier 3 group list.
• Repayment period of up to 36 months • The Signatories will be insured for the loan
• Mode of repayment should be monthly. • Only the officials will be having the member number.
• Security: guarantor ship, security of mov- • Upon withdrawal of the group then a minimum of Kshs.
able chattels or collaterals for amount 10,000 to remain with a commission of Kshs. 1,000.
above ksh. 300,000. Minimum group savings per month:
Loan Charges. 0-50,000= 1,000/=
Appraisal 3%, Upfront interest 2%, 51,000-200,000=2000/=
201,000 and above = 5000
Features
• Loans 5 times of savings

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• Must have a minimum of 10 Members. Security of the loan:
• Savings for 4 weeks/ training • Below 100,000 – 7 Guarantors (Tea payout)
• Interest rate-12 % p.a or 1 % p.m. • Above 100,000 Fully secured; Guarantor ship or
• Loan fees -Appraisal fees 2.5%, Upfront interest 1% Collaterals E.g. Title and Vehicles.
• Repayment period 6-24 months
14.BODAH LOAN
12.MICRO MUSIMU LOAN This is a product to help our members own a Boda Boda.
Requirement: - registered group with social services Features: -
Seasonal farming e.g. Horticulture • 5 times your savings
Features • Repayment- 24 months
• Repayment mode: Quarterly basis and half yearly • Interest -11%p. a
• Interest rate: 7.5%
• Savings -5 times BODA LOAN
• Savings for 4 weeks/ training The loan remains the same for all other members who are
not in a boda boda stage.
13.MAJANI LOAN Features adjusted to the current loan to fit the boda boda
For members whose tea pay-out is at Times U Sacco riders in their stages.
Repayment mode: 2/3 monthly, 1/3 mini and main bonus. • Introduction letter from the current chairperson of
Features: the respective stage.
• Deposit contribution * 3 • The loanee must have a valid driving
• Monthly interest of 0.64% license.
• Repayment period 12 months. extension period • The loanee must be in a Times
above 12 months’ negotiable. U Sacco cell containing of the
• Monthly repayment of 1/3rd and the 2/3rd on mini fellow riders in the stage and
and main bonuses. must have the minimum
amount of shares required

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 to be multiplied for the boda loan. • Collaterals i.e. Title deeds and Logbook
• The loanee must be accessed for additional security. • Loan category
• The recovery process must be done through the chair- • 15,000- 299,999 Loan Period 24 Months.
man of the respective boda boda stage. • Above 300,000 Loan period 36 Months-48 Months but
• The boda boda must have a tracker installed in it. must have a collateral.

16. CHURCH LOAN

15.INSTITUTIONAL LOAN/ INUKA NA MSHA- The product is aimed to finance the church in projects such
HARA as Purchase of musical instruments, purchase of land,
supporting casual workers and those in employment with building of churches, relocation of church rented premises.
finances Features:
New Features: • Share multiplier of 3.
• Share multiplier of 10. • Repayment is quarterly with partial payments monthly
• Maximum repayment period of up to 36 months. and clear quarter loan balance on the 3rd month.
• Interest rate 1.2% p.m. • Maximum repayment period of 36 months.
Requirements • Interest rates 9.5% p.a.
• Salary account with Times u Sacco • Appraisal 2.5% and upfront interest 1% p.a
• Identity profile from the employer
• Irrevocable letter Security: Guarantors, Assessment of household property.
• Agreement between the employer and (Partial or wholly), Title Deeds, Vehicles can be used as
employee security, insured church instruments that can be supported
by minutes from the standing church committee.
Security Used for the loan:
• Fellow colleagues with accounts Mode of repayment: 20%, 20% and 60% or monthly instal-
at TUSL. ments.
• Guarantors

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17.INVOICE DISCOUNTING LOAN Individuals
Features • KRA pin
• Loan maximum period of 6 months • National ID
• Repayment to be one off bullet • Commitment letter to borrow loan $ confirm the pay
• 10% deposits of the amount intending to borrow. (10 point will be at Times U Sacco.
Times of the deposit) • Document for tender award
• Must have full membership of 6,000
• No share financing. OTHER PRODUCTS
• Request statement from other bank accounts 1.FOSA ADVANCE (Any pay out based loan)
• Commitment letter from the third party. Salary Advance-Salary at Times u Sacco
• Interest rate of 12 p.a% Crop Advance-Tea and milk pay out at times u Sacco
Business advance- with an existing business and an
Guarantor ship active business account
• Below 100k No guarantor ship needed. Features: -
• Above 100k Guarantor ship or Security of a charged • Interest rate- 7%
asset. • Repayment period- max 6 months
• The amount given should be on 2/3 basis rule
Companies/ Business loan requiring loan
• Registration certificate 2.MOBILE LOANS
• Tax compliance M-TIME LOANS
• KRA PIN of the company/ business Loans accessed via phone and repaid
• ID $KRA pin for the company directors in one months’ time. Loan amount
• Commitment letter to borrow loan $ confirm the pay depends on the payout amounts.
point will be at Times U Sacco. Features: -
• Document for tender award • Interest rate-6%p.m
• Appraisal-whether listed in

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 CRB (appraisal) system generated vi. Church account
• M-pesa usage- Length the phone number has been in vii. Timers junior account
operation viii. Joint account
ix. Burudika account
VIRTUAL LOANS x. Society account
Loans accessed via phone and repaid in one months’ time. xi. Special Fixed Deposit Account
Features: -
• Interest rate-6%p.m TIMESCO INSURANCE PRODUCTS
• Appraisal- system generated Times U Sacco has partnered with insurance companies to
• M-pesa usage- Length the phone number has been in provide:
operation General Insurance:
motor private, motor commercial, motorcycle, tractors, fire,
5.SACCO ASSURANCE LOAN burglary, livestock, crop, medical, school insurance, liability.
Loan to finance insurance premiums for the general prod- Life Assurance Products
uct e.g. Motor, livestock, medical, fire and burglary crop Education policy, Investment policy, Funeral cover, Pension
etc. plan.

Loan features: - REQUIREMENTS FOR OPENING ACCOUNTS: -

• Interest rate - 6% p.a. Shares account
• Repayment period- 10 months • Fill in a member application form at any of our branch/
at the website
SAVINGS ACCOUNT TYPES • Attach copy of ID
i. Member Account (Shares account) • Attach a KRA pin certificate
ii. Haba na haba account • Payment of an entrance fee of 600/=
iii. Current Savings account • Contributing the minimum share capital of kshs. 5,000
iv. Biashara account • Contributing to the minimum savings contribution of at
v. Group account least kshs.200

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 Church Account
Group Account • Certificate of Registration
• Minutes • Introduction letter from church leader i.e. Bishop,
• Constitution/bylaws reverend
• Copies of signatories’ ID’s • Minutes consenting to a/c opening
• Signatories’ photos • Signatories and signing instructions
• List of members (with member’s signatures and ID’s) • Photos of signatories
• Registration fee of kshs. 560 • ID copies for signatories
• Registration fee of Kshs. 560.
Company account
• Memorandum of understanding Timers Junior account
• Articles of association • National ID of the parent.
• List of Directors • Photo of the parent(signatory).
• Certificate of registration • Registration fee of Kshs. 400/=
• Directors’ ID copies • Signing instructions of the parent/ guardian.
• Company search certificate
• Directors’ photo Biashara Account
• Registration fee of. Kshs. 1,000 • National ID
• Business KRA pin
Business Enterprise account • Registration fee of 560/
• Certificate of Registration
• Identification Card Other Services
• Director’s photo • Super-agent- Sale of float
• Registration fee of kshs. 560. • Sale of cheque books
• • Timesco Insurance Agency

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 TIMESCO
INSURANCE AGENCY
M-PESA PAYBILL NO
TIMES U SACCO
AGENT

SUPER
AGENT

TIMES U DT SACCO
HEAD OFFICE
P.O Box 310-60202, Nkubu, Tel: 064-5051191, Cell: 0703 770457
Email: [email protected] Web: www.timesusacco.co.ke

NKUBU BRANCH GITHONGO BRANCH KARIENE BRANCH

Cell: 0703 770 457 Cell: 0711 304 776 Cell: 0703 766 509

MITUNGUU BRANCH MAKUTANO BRANCH TIMAU BRANCH

Cell: 0708 955 481 Cell: 0795 019 962 Cell: 0110 566 855