About

About Us

St. Monica Catholic Church Karanjee Self-Help Group derives its mandate from the Caritas Registered Trustees, a trust formed by the Archdiocese of Nairobi for purposes of socio- economic development based on the following principles: Voluntary and open membership; Democratic member control; Economic participation by members; Autonomy and independence; Capacity building, development and information; Co-operation among groups; Concern for community in general.

MISSION: To socio-economically empower the local community by cultivating a saving culture, provision of affordable credit, capacity building and strengthening, strong corporate governance, exemplary customer experience and social interventions.
CORE VALUES: St. Monica Catholic Church Karanjee Self-Help Group shall believe and promote the following values in all their undertakings; Integrity, professionalism, solidarity, transparency, member centrism, and innovation

FAQs

1.How long after joining do I qualify to get a loan?

You qualify to get a loan after six months of active membership.

2. If I am a new member, can I guarantee someone a loan?

Yes you can

3. Can I guarantee my self for a loan?

You can guarantee your self a loan UpTo 95% of your available savings.

4. How many guarantors do I need to obtain a loan?

We don't have a limit on the number of guarantors you can get as long as the amount your request is fully guaranteed.

5. How long does it take for me to become dormant if I don't contribute?

You become dormant if you do not contribute continuously for four months.

6. Can I guarantee someone for a loan if I have an existing loan?

Yes you can as long as you have available funds.

7. What do you mean by available funds?

Available funds is the difference between funds on hold and free savings.

8. Can I guarantee more than one person?

You can guarantee as many people as you can as long as you have available savings.

9. what rate of interest do you charge for loans?

We charge an interest of 1% on reducing balance each month.

10.Do you offer dividends on savings?

We charge an interest of 1% on reducing balance each month.

11. After how long is surplus distributed?

We normally distribute surplus after the close of each financial year, normally within 90 days after the year ends.

12. At what rate do you offer surplus?

It normally depends with the performance in a particular year.

13. What is the minimum saving monthly?

We recommend that you save at least 200 shillings each month.

14. Can I withdraw my savings?

Yes you can but you have to issue a sixty day notice in writing after which your funds are refunded within seven days after the expiry of the notice and payment of the withdrawal fee.

15.What is the maximum amount of money I can contribute in a month?

You can contribute any amount as long as it's not more than 15% of the groups share holding.

16. Can my loan be guaranteed by a member who is not in St. Monica shg?

Yes it's possible as long as the member is within an Shg under Caritas Nairobi

17. Can I get an unsecured loan?

Yes but now we shall have to link you with Caritas Microfinance bank under their terms. Your savings, however, remain within the group and your continue to earn surplus only that the amount will be on hold as it will act as the minimum deposit.

About Us

About us

What We Do

Saving

Credit

FAQs

SELF SERVICE OPTIONS