What is Risk management Fund

What is Risk management Fund

·         This is mandatory internal insurance scheme for all members with monthly premium contribution of Kes.400.00 which provides cover for outstanding loans and main scheme deposits held alongside other benevolence assistance.

·         Members are required to ensure that all details provided are correct and updated regularly.

·         Upon death of a regular contributor [shares, risk & Loans], the nominated next of kin is paid one and a half times the main scheme deposits saved by the deceased (i.e bonus shares of 50% the amount saved).

·         Any outstanding main loan of the deceased member is written off against the pool of funds and guarantors released.

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