We look at our members beyond savings and borrowing, we try to ensure that our members are comfortable, healthy and have a peace of mind. We are all not able to predict what may happen in the next minute or second. In this regard, Mwalimu National has put measures in place to support members in times of need.
Risk Fund.
- A compulsory insurance scheme for all members.
- Monthly contribution is Kshs.400.
- The funds are used to offset outstanding loans of the deceased member,
- pay last respect benefit
- double the deceased savings which are paid to his/her nominee.
Last Expense Benefit (Paid in addition to Sacco’s BBF benefits)
Members are requested to confirm and update their nominees with the Sacco to avoid legal tussles. In case of more than one nominee, the percentage allocation for each nominee should be clearly indicated.
Burial Benevolent Fund (BBF).
- It is a mandatory fund used to accord members and their immediate families a decent send off.
- Monthly contribution is Kshs.150
Document required when lauching a claim:
- Certified copy of death certificate/burial permit
- Birth notification form/birth certificate (for claims on own child)
- Radio announcement or newspaper caption or letter from assistant chief/head of institution
- Any other supporting documents
