This product has been developed for the children of principle members

  1. Savings should be made regularly/consistently, usually monthly, not later than 10th of the following month
  2. Minimum monthly saving is at least 50% of the stipulated principle member’s minimu
  3. Additional savings can be provided at any given time of the month
  4. Deposits can only be transferred in full and not in part to the principle member only. Transfer can only occur upon full closure of the Minor’s account or upon resignation of the Principle member from the Sacco.
  5. Rejoining and activation fees are applicable when rejoining and re-activating the Minor accounts as respectively.
  6. Deposits are held in trust by the principle member at all times.
  7. These deposits shall be considered as the principle member’s deposits, for purposes of calculating loan entitlement
  8. These deposits can be used for loan security by the principle member
  9. Deposits are aggregated to those of the principle member when calculating interests
  10. The SACCO shall send a birthday message through existing technologies or any other appreciation token that is allowable by the Sacco budget to the child member annually.