It is easier to earn money than to keep it. This has never been so well put. More often we find ourselves with more needs than our money can cater to, but you somehow still need to save.
It may be difficult to save alone. Mostly because you lack motivation or someone to keep you on toes. If that is the case, then you have an option to save as a group. Getting yourself a friend with whom you will save and constantly remind each other of your saving goals.
The Co-operative Bank of Kenya is your most trusted friend when it comes to this kind of saving. Knowing the importance of saving and that there might be people who find it difficult to save by themselves, they created ‘Mshiriki current account’.
Mshiriki Current Account is a transactional account for groups and chamas, registered or informal, to support their financial goals safely and securely.
This is what you can do with your Mshiriki Current Account;
No minimum operating balance
Access to funds as many times as required
Cheque withdrawals making reconciliation easier
No monthly ledger fee
Groups can access group loans
Convenient mobile banking and internet banking available
Cheque book costs 10 shillings per cheque leaf on the requisition
For you and your group to open this account, here’s what is required of you;
Originals and copies of National Identity Cards of the official signatories
Minimum opening balance of Ksh 2,000
For registered groups, the following are necessary:
Group Registration Certificate
Letter of introduction from the registering authority
Group minutes resolving to open the account
List of members with ID Numbers and signatures
Copy of KRA PIN
For informal groups, the following are necessary:
Signatories to open a joint account
Copy of KRA PIN