Terms of Service

Last Updated: December 2024

1. Membership

By becoming a member of United Amani SACCO, you agree to abide by our by-laws and these terms of service. Membership is subject to approval by the Board of Directors.

2. Savings Products

All savings products are governed by specific terms including:

• Minimum deposit requirements
• Interest calculation methods and payment schedules
• Withdrawal terms and conditions
• Account maintenance fees where applicable

3. Loan Products

Loans are subject to:

• Credit assessment and approval
• Guarantor requirements
• Collateral requirements for certain loan types
• Repayment schedules and default penalties
• Insurance requirements

4. Member Obligations

As a member, you agree to:

• Provide accurate and complete information
• Maintain regular savings contributions
• Repay loans according to agreed terms
• Notify us of any changes to your personal information
• Attend Annual General Meetings where possible

5. SACCO Rights

The SACCO reserves the right to:

• Modify interest rates with appropriate notice
• Reject loan applications
• Recover outstanding debts through legal means
• Amend these terms with member notification

6. Limitation of Liability

The SACCO shall not be liable for losses arising from circumstances beyond our control, including but not limited to economic conditions, regulatory changes, or force majeure events.

7. Governing Law

These terms are governed by the laws of Kenya and the regulations set by SASRA and the Co-operative Societies Act.

8. Contact

For questions about these terms, contact us at info@unitedamani.co.ke