If you can’t find an answer below please call us at +254721765045 or email methodistsacco@yahoo.com Our staff will respond to you promptly.
What can we do for you
Frequently Asked Questions
Where are your offices located?
We are located at the Methodist Ministries Centre, Conference Office on Oloitoktok Rd, Lavington area, Nairobi
How do I join Methodist Sacco?
Download the membership application form from the downloads section or fill an online form, attach your passport photo, copy of ID and a copy of KRA pin certificate. You will also need to be introduced by a Member of the Sacco.
Is there a registration fee?
Yes, Kshs.1,000 payable once.
Do you have a minimum monthly share contribution?
Yes, the Minimum Monthly Contribution is Ksh.1,000 for individuals and Ksh.3,000
Once I become a member, can I introduce new members?
Yes, you may introduce your friends, colleagues and family to join the Sacco. You will enjoy a commission for this.
What type of security do you require for a loan?
You need to have a Guarantor/s if borrowing over and above your savings. Currently, the Sacco has also opened up to other forms of security e.g. Tittle Deeds, Logbooks.
How many guarantors will I require?
You may have even one although the total amount requested MUST be fully Guaranteed.
How do I make monthly deposits and share contributions?
Through Bank standing order, direct debits, M-Pesa Paybill 322500, cash deposits at Sacco offices, and Employer Check off.
I have a Chama members can they join Methodist Sacco
Yes! They can also borrow up to 5 times savings. They also MUST be registered with the relevant authority and contribute a minimum of Ksh. 1,000 every month
How do I benefit as a member of the sacco?
Save and access affordable loans at only 1% p.m., you get Clean Land deals and you also get to save for your future.
How long must I save to qualify for a loan facility?
You need to save consistently for at least 6 months
Can I top up my savings to qualify for a bigger loan?
Yes. If you deposit a lump sum you can qualify for a loan 3 or 4 times your total savings after top up.
I have a loan from another institution. Can you buy off my loan?
Yes we do, all you need is seek advice from our credit officers by presenting Latest Certified Loan Statement/s from the Financial Institution.
How long does it take to process a loan?
This varies on the type of loan a member is borrowing: The processing period for a long term loan is within 2 weeks while that of short term loan is within a day.