Mshiriki Current Account

Get a loan up to 5 times and take your investment club to the new heights

Do you find saving by yourself to be difficult? A chama could be the answer! Let us help you and your chama achieve financial freedom!

Coming together is the beginning, keeping together is progress but finding the right financial partner is the ultimate goal in achieving chama members’ financial freedom!

Mshiriki Current Account is a transactional account for groups and chamas, registered or informal, to support their financial goals safely and securely.

Features

No minimum operating balance
Access to funds as many times as required
Cheque withdrawals making reconciliation easier
No monthly ledger fee
Free withdrawals
Free deposits
Groups can access group loans
Convenient mobile banking and internet banking available
Cheque book costs Ksh 10 per cheque leaf on requisition

Requirements

Requirements for Formal groups:

A certificate of registration from the Ministry of Social services
An introduction letter from the Ministry of social services
Groups By-laws
Extract of minutes with an intention to open an account with co-operative bank, stating the signatories of the account
Groups’ KRA PIN
Signatories national IDs and KRA Pins

Requirements for Informal groups:

A minimum membership of 3.
Extract of minutes with an intention to open an account with co-operative bank, stating the signatories of the account.
Signatories national IDs and KRA Pins

Benefits for Mshiriki Account:

Zero operating balance
Zero maintenance fee
A cheque book can be issued for convenient withdrawals.
Cheque deposits into the account are allowed
Statements issued half yearly (available upon request).
Bundled with internet banking and with no monthly charge. It helps to transact conveniently away from the banking halls.
Bundled with a collection solution for ease of depositing of members savings.
Access to Club Special investment loans.