Page 12 - SACCOStar Mag Vol 46 Press_txt.pdf
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SACCO INDUSTRY WATCH KUSCCO HOUSING FUND
Home OwnershipA MEMBER’S STORY ABOUT THE JOURNEY TO
What made KUSCCO Housing
attractive to you?
I had taken a mortgage in 2011 with
a commercial bank and the interest
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at 14 percent per annum on reducing
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KUSCCO Housing in a smooth process. In
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lot of money in terms of interest.
Mr. Evanson Kahoro. ( @KRN DMINXDC ?DWHAHKHSX CTQHMF SGD What improvements would you like
repayment period since there was no to see in the products and services of
.USCCO Housing was founded ?WDC C@SD AX VGHBG ( G@C SN L@JD SGD KUSCCO Housing?
in 1996 with a mandate to payment, as long as I repaid within the
mobilise funds and provide LNMSG
!DB@TRD NE SGHR ?DWHAHKHSX ( CHC My recommendation is that there shouldn’t
mortgage solutions to Co-operatives not default in my loan repayment and I be a blanket loan limit for everyone. The
and Co-operators in Kenya. We have also did not have to pay any penalties. loan limit should be pegged on one’s ability
led the Co-operative movement in ( ?MHRGDC QDO@XHMF SGD ?QRS KN@M HM ENTQ and willingness to repay. There are people
provision of a basic need— shelter. years, which was a shorter period of time. who are able but not willing to repay the
KUSCCO Housing has grown from being Another attractive feature is the loan. As for me, I have demonstrated that I
@ LNQSF@FD ?M@MBHMF HMRSHSTSHNM SN opportunity to continue saving, and also am willing, able and disciplined enough to
providing integrated property solutions earn some interest from the savings. repay the loan.
HM *DMX@ GDKO HCDMSHEX @BPTHQD @MC .MD FDSR ?UD SHLDR SGDHQ R@UHMFR VGHBG
develop properties. HR GHFGDQ BNLO@QDC SN NSGDQ ?M@MBH@K I also recommend that the interest on
3NTMCDQRS@MCLNQD@ANTSSGDADMD?SR institutions. I got Kshs 7 million in both the savings be improved in line with the
of joining the Fund, the SACCO STAR loans, which is the highest amount given prevailing rates at the Treasury Bills. I am
team caught up with one of the in the housing scheme. however glad that the interest on savings is
members, Mr. Evanson Kahoro. Here are O@HCPT@QSDQKX
the insights that he gave.
There is need to organize networking events
Please tell us what you do for members for instance cocktails, where
members can meet one another. They also
I work in the education sector as the get to know that KUSCCO Housing and the
#HQDBSNQ@MC"GHDE$WDBTSHUD.?BDQNE members are partners. Thus, members get
Tender Care Schools. We started this to talk about the Fund through interaction
learning institution in 1996 to cater for and feedback sessions.
children aged between 3-14 years, in
kindergarten and primary school. The I also advise KHF to recruit more business
institution now has a total of 2,490 people, especially the Small and Medium
pupils with branches in Nairobi; Umoja, Enterprises (SMEs). This can be done
Utawala and Komarock. by asking their existing members to
recommend a few people in their networks
How did you get to know about and provide KUSCCO Housing with their
KUSCCO Housing products? contacts.
I joined KUSCCO Housing in 2010 How have you benefited from What advice would you give to
and was introduced by a marketing KUSCCO Housing Fund products? someone who wishes to own a home?
representative who was working with
SGD4MHNM@SSGDSHLD
(RS@QSDCN?VHSG RLDMSHNMDC*42"".ANTFGSN?@KN@M I advise other people to join KUSCCO
some little monthly savings and grew it I was servicing with a commercial bank at Housing in order to achieve their goals
over time. a very high interest rate. This enabled me SN NVM @ GNLD
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10| SACCO Star Magazine save a lot of money, which I would have HMRSHSTSHNMRG@UD@KNMFKHRSNEQDPTHQDLDMSR
O@HC @R HMSDQDRS
( ?MHRGDC QDO@XHMF LX for home ownership, KUSCCO Housing
?QRSLNQSF@FDSGQNTFG*42"".'NTRHMF makes it easy to own a home. Also, besides
in 2018; then applied for the second being an avenue for owning a home, it also
loan in October the same year, which a disciplined way of saving money. I also
I am servicing to date. The money was advise people not to wait until they have
used to buy another property in Tatu City. @BPTHQDC DMNTFG LNMDX ATS SN RS@QS VHSG
what they have. Getting started is what is
important. You start small and then grow
from there.
