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Our Senior Citizen Program
Secure your future with our specially designed products and services tailored for retirees. Stay connected to the Sacco community, enjoy the benefits of your lifetime membership, and leave a lasting legacy for your loved ones.
The Seniors membership program comprises the backbone of our Sacco operations, with the aim of entrenching the “Sacco for life culture” in our members who may have attained the mandatory retirement age of 60 years.
A Unique Membership Category for Retirees
We recognize that members approaching retirement and retirees have unique needs, we have developed financial products and services tailored to cater to these specific requirements. We have introduced a unique membership category for "senior citizens," offering features like low minimum monthly savings contributions or even no monthly savings contribution at all.
Post-Retirement Medical Plan
Understanding the health challenges that come with old age, we have created unique medical products to cover recurrent medical expenses associated with aging. This medical cover component can be paid for at the time of dividend payment, ensuring retirees' medical needs are addressed without the need to withdraw their deposits.
Establishing an Estate Planning Scheme
Considering the inheritance culture, we suggest viewing your savings as part of your legacy that you can pass on to younger generations. To cultivate a savings culture among the youth, instead of withdrawing shares and deposits, consider distributing them to younger generations to kickstart their membership journey in the Sacco. Enroll to our estate planning scheme, where as a senior Citizen, you can nominate beneficiaries or next of kin to join the Sacco while they are still alive.
Dividend Management Plan and Advisory
To help manage savings contributions and monthly income for retirees, we offer a dividend management plan. This plan involves deducting a portion of the dividend income for monthly savings contributions, while the remaining balance is distributed into a monthly income scheme. The fixed amount left in the account will continue to earn dividends on a daily basis.
Retirees as Mentors or Ambassadors
As retirees who have been part of our Sacco for many years, you are the best ambassadors to mentor and guide the younger generation. We encourage you to take up the role of mentors, starting with your immediate family members, advocating for Sacco membership and highlighting the importance of enhancing savings contributions for a lifetime of financial security.
