To become a member, fill an application form which can be downloaded and printed or get a hard copy from Pay Offices, welfare Office and Unit Chief Clerk.
2. Who is a DESACCO member?
A person becomes a member of DESACCO by; a) Duly filling a membership form b) Paying one-time Registration fee of Kshs 600/= (non -refundable) c) Minimum share capital Kshs 20,000/= d) Monthly sink fund Kshs 300/= e) Minimum monthly contribution (Deposits) of Kshs 3,500/=
3. What is share capital?
Share capital is the minimum shareholding that every member must hold with the Sacco. Shares are non-refundable and cannot be withdrawn even on exit from the Sacco but can be transferred to another member of the Sacco. This cannot be used as security on loan.
4. Who is eligible to join Defence Sacco?
Membership Eligibility to Defence SACCO is open to all Uniformed Serving and retired Personnel.
5. What is Sacco monthly deposits?
SACCO monthly deposits are the regular contributions members make to their SACCOs. members take loans as a multiplier of their deposits. Members earn interest on their deposits depending on the SACCO’s performance.
6. Why should members increase their monthly contributions?
Members should consider increasing their SACCO deposits because it helps them qualify for higher loans, as SACCOs often base loan amounts on the member’s deposits. A larger deposit also means higher returns during payouts, as many SACCOs distribute annual dividends based on members’ contributions.
7. What are the benefits of being a member of DESACCO?
An opportunity to save and access affordable loans at only 1% p.m.
8. What are the available mobile loans?
Okoa Cash.
Salary Advance.
Salary in Advance.
9. How can I access DESACCO m-banking?
By dialing USSD code *515# or download Desacco mobile app here
10. Can a member transfer deposits from other SACCOs to DESACCO?
Yes. By filling the exit form from the other Sacco and upon approval by the other Sacco the amount can be credited to our Sacco as the members’ deposits.
11. Who sets the minimum share capital for members?
Resolutions by delegates during their Annual Delegates Meetings (ADM).
12. Under what circumstance can a member withdraw deposits from DESACCO and how long does it take?
Upon exit and within 60 days.
13. Can a member use his deposits to clear his loan?
A member is only allowed to offset his/her loans against his/her deposits if he/she is ceasing to be a member
14. How can members boost their deposits, pay loans or deposit money to their Fosa current account using paybill?
A member can boost deposits, pay loan or deposit to FOSA current account through paybill No. 907116 and respective account numbers a. To boost deposits - members service number. b. Pay loan - loan number (BLN_XXXX) c. FOSA account – FOSA account number (108svcno0 e.g. 1081234560)
15. How can a member increase /decrease their monthly contributions?
A member can increase or decrease his monthly contribution by filling a variation form and forward the same to our office through the provided means; through email, WhatsApp or hand delivery.
16. How does a claim arise?
A claim arises when a member clears his loan and thereafter be deducted the same or overpays his loan. A Member is refunded by filling claim form and forwarding it to our offices.
17. Can I continue with my membership after retirement?
Yes, by placing a standing order for both deposits and loan and you will enjoy various segmented products and services.
18. What is the difference between dividends and interest on deposits?
Dividends are earned on share capital while interest is earned on deposits.
19. When does DESACCO pay dividends?
Dividends are payable every year after an ADM has been held.
FOSA
20. What is FOSA?
FOSA in full stands for Front Office Service Activities and it is the Sacco’s arm that allows members to access banking services similar to those offered by Commercial Banks.
21. Who can join FOSA?
All new members are automatically generated a FOSA account on registration.
22. What services can I access through FOSA?
You can access various products and services including; i. FOSA Accounts - FOSA Current Account, Junior Account, Save-As-You-Earn Account, Corporate Account, and Veteran Account. ii. Credit Products - Mobile Loans (Okoa cash, salary advance, and salary in advance) and Jijenge Loan. iii. Other services – mobile banking, ATM cards, bankers’ Cheque, fund transfers, standing order, salary processing, BOSA loans disbursement, and dividend payment.
23. How can I access funds in my DESACCO FOSA account?
You can withdraw funds from your FOSA account through our digital channels USSD *515# or our Desacco App on google play store. Alternatively, you can withdrawal your funds using an ATM card or over the counter cash withdrawal at our offices.
24. How do I activate mobile banking on my FOSA account?
You can download our Mobile Banking application form from our website and forward a filled form to us at This email address is being protected from spambots. You need JavaScript enabled to view it..
25. How can I apply for an ATM Card?
You can download our ATM application form from our website and forward a filled form to us at This email address is being protected from spambots. You need JavaScript enabled to view it.. You will be able to transact at any Coop ATM, Coop agent, or any VISA branded outlet where ever you are.
26. What are your charges when I make a transaction?
Our transaction charges vary depending on the amount you are transacting.
27. What is the maximum transaction I can make in a day?
When withdrawing to your mpesa number, there is a limit of KES 150,000/= per transaction and the maximum amount you can transact in a day is KES 500,000/=. When making a withdrawal to another bank account using the mobile app or ussd code, the limit per transaction is KES 300,000/= .
28. I process my salary through Desacco, can I access mobile loans?
Yes. Once your salary has been processed through your fosa account for at least 3 months, you can easily apply for a mobile loan from the comfort of your phone and your loan will be disbursed immediately. You can apply for our mobile loans on our Desacco app on Google Play Store or ussd code *515#.
29. How has DESACCO leveraged on ICT?
DESACCO has leveraged on ICT by embracing digital platforms such as electronic document management systems for paperless preconfigured processes workflows and automating processes and members transactions such as funds withdrawal, deposits, money transfers and loan repayments.
LOAN RECOVERY
30. Can I withdraw part of my shares/deposits to offset my outstanding loan and continue being a member?
No,Partial withdrawal of shares is not allowed, nor offsetting part of an outstanding loan. A member is only allowed to offset his/her loans against his deposits if he/she ceases to be a member.
31. How can I claim for the loan overpayment?
Download the claim form from our website www.defencesacco.com , fill it claiming for erroneous deductions and send it to our This email address is being protected from spambots. You need JavaScript enabled to view it.
32. Is it right for the sacco to deduct guarantors deposits to pay a defaulted loan?
Yes,According Kenyan law, a sacco is legally permitted to deduct guarantor’s deposits to pay a defaulted loan as long as the guarantor signed an agreement to take up the liability incase of default.
33. Can I pay extra amounts outside payroll and how?
• You can pay using our Desacco paybill number 907116 and account number being your loan number. • You can also use the Desacco App to pay your loan.
34. Can I Withdraw My Sacco shares?
No. Share capital is non-withdrawable therefore you cannot withdraw your shares from a sacco but you can transfer them to another member.
INSURANCE
35. What are the requirements for a motor vehicle cover?
Fully filled Proposal form, copy of logbook, ID and KRA PIN certificate.
36.What excludes a vehicle from insurance on comprehensive basis?
If the vehicle is older than 15 years since manufacture.
36.What excludes a vehicle from insurance on comprehensive basis?
If the vehicle is older than 15 years since manufacture.
37. Why value a vehicle?
To have the most accurate premium charged and the sum insured when claiming as per the state of the vehicle from inception.
38. Why do I need excess protection cover?
Because it is the amount of loss to be borne by the insured in the event of a claim. It’s policy holder’s retention cost.
39. Can I pay the premiums in instalments? How many times?
Yes. Up to 3 instalments
40. What should I do in case I am involved in a road traffic accident?
Do not admit liability. Inform your relationship officer at DESACCO, take pictures of the damage to the vehicle, get a Police Abstract and fill in a claim form.
41. Can I get a courtesy car in case of an accident?
Yes; once the repair authority has been issued, provided you had paid for that benefit when taking the cover
42. When can an insurer reject a claim?
If the claim arises due to depreciation, wear and tear, mechanical, electrical or electronic breakdown as well as failures or breakages to the insured motor vehicle. Also, if the claim is fraudulent.
43. What does a domestic package cover?
Domestic Package Insurance covers your home, its contents, and provides specialized options for homeowners, renters and BnB owners.
44. Is there a waiting period for the coverage to be effective?
Coverage typically begins as soon as your application is approved and the premium payment is received.
45. What is covered in Golfer’s package?
Loss or damage to golfing equipment namely clubs, bags, caddie carts/buggy/trolleys, Accidental Medical expenses to caddies and Hole in one expense as a result of the insured holing out in one stroke.
46. What does medical insurance cover?
Medical insurance is specific to an individual and covers both inpatient and outpatient medical expenses.
BENEVOLENT FUND
47. Which documents are required for claim processing?
Certified copies of burial permit, ID of deceased (if an adult), birth certificate of deceased (if a minor), service ID of member, birth certificate of member (if deceased is member’s parent), marriage certificate (if deceased is member’s spouse).
47. How much is paid for claims?
Principal member – Ksh 100,000 Spouse – Ksh 100,000 Child – Ksh 50,000 Parent – Ksh 50,000
48. When can a claim be rejected?
a) If the claim notification reaches DESACCO after 6 months b) When there is disparity of names in claim documents provided and what the member had declared when joining DESACCO. c) If the member is not a fully paid up member. A fully paid up member is one who had paid the full share capital amount of KSh 20,000.
48. How long does it take for a claim be processed?
