Education Committee
FAQs
- Be a Kenyan resident living abroad (diaspora), at least 18 years of age, and have a stable source of income or gainful employment
- Have a valid Kenyan passport or a Kenyan National ID and provide a colored passport size photograph.
- Provide information for a designated next of kin (nominee).
- Be able to pay one-time non-refundable membership fee of Kenya Shillings Ksh. 10,000
- Purchase a minimum of ten 10 shares each Ksh 10,000 each within 6 months of joining the SACCO to be eligible for full membership. Owning shares makes you a bona-fide member of the Sacco.
- Contribute a minimum of Ksh. 10,000 to your SACCO Savings Account monthly thereafter to borrow against.
- Has attained the age of 18 years
- Is of good character and sound mind
- Pays the entrance fee and share capital as prescribed in the by-laws.
- GDDS is based on member referral (to refer people who share our core values)
- All prospective members must be vetted by the marketing team after filling the referral form on our website “join us”
- After a successful vetting process, the prospective member must fill the online member registration application. A digital Kenyan ID or Passport, passport size photo, next of kin (one or more individuals) information. The contact information may include an ID number originating in the US or Kenya (regular ID or passport) and contact information (phone and email)
- Upon successful registration process, you must remit Kshs. 10,000 for registration fee (non-refundable)
- Build Kshs. 100,000 equity for full membership or longer.
- Build Kshs. 10,000 monthly saving contribution/deposits
- A probationary period of 6 months is mandatory for all members
1. Buy shares
- This is an opportunity to save money. Your money will earn you dividends.
- We are pulling resources for investments and wealth creation. This is an outstanding opportunity to build savings, earn interest on your savings and dividends on your shares.
2. Loans
- Loans are available at low/fair market competitive rates.
- The money stays and works within the members.
- You are guaranteed a loan depending on how much you have saved.
3. Investments
- As a member, you are encouraged to own a property. For instance, a SACCO may decide to buy a piece of Land, subdivide it into smaller units, and sell it to members.
- We are saving money while sustaining growth and social development together.
4. Savings
- The SACCO will help you maintain a high saving discipline, which most people lack.
- You will be assisted to develop a saving culture and be able to commit part of your disposable income for your future.
5. Networking This is an opportunity to network and share business ideas and experiences.
Withdrawal from society
- A member may at any time withdraw from the society by giving at least sixty (60) days written notice to the committee.
Payment on cessation of membership
- On cessation of membership, a person shall be refunded the following amounts:
- Any dividends or interest due to him/her prior to the date membership ceased and
- His/her shares less 10% of saving deposits, and any other sums held by the society on the member’s behalf after deduction of any sum owed to the society.
Head of Committee
Our Purpose
The purpose of Grand Granite SACCO is to create a forum for savers and borrowers for a wide range of benefits
Our Vision
To make it possible for all members to build wealth and become economically independent.
Our Mission
To present opportunities to all members to contribute and utilize credit and other opportunities for self-economic development
Our Principles
- Voluntary and open membership
Our Values
- Self-help
- Mutual responsibility
- professionalism
- respect and equality
- innovation.
- equality integrity
- efficiency
Our objectives
To organize and promote the welfare and economic interests of members.
The society shall undertake:
- To promote thrift among members by affording them an opportunity for accumulating savings and deposits and thereby create a source of funds from which loans can be given to them, exclusively for provident and productive purposes, at fair and reasonable rates of interest; thereby enabling them to use and control their money for their mutual benefit.
-
To ensure personal growth through the introduction of new products and services that will promote the economic base of the members.
-
To ensure progress of members and society through continuous education programs on proper use of credit, reduction of poverty, human dignity, and co-operation.
-
To apply the co-operative principles in order to promote members’ interests. In furtherance to the objectives, the society shall affiliate with the relevant National Co-operative Union and the Apex society.
We are unique.
- Our SACCO Committees & Management understand challenges and they are ready to apply their experience and knowledge to help all members far and wide overcome social economic challenges and build genuine wealth.
- Behind the efforts is the desire to make the tools available through our SACCO that would see the members make positive advances economically.
Our motto: Transcending our Financial Goals into Greater Heights!
Why you should join us
Assured Opportunities
Access to researched investment opportunities
Cash Reserves
Access to researched investment opportunities
Best Rates
Best interest rates on loans for members.
Networking
Social Networking opportunities.