Share Capital Account:
- In order to become a member of Egerton University SACCO each member must invest a minimum of 100 shares of Ksh.100 worth Ksh. 10,000 for both Category A and B.
- Dividends paid on this account will be based on available earnings and paid at the end of each accounting period (when management closes the books).
- The rate of Dividends on these shares is higher than the returns paid on other savings accounts. Members are encouraged to increase their share holding in the Sacco to reap more dividends.(Dividends rate for 2016 was 10%).
- The dividend earned on these accounts will be paid prior to the payment of regular savings.
- This is the incentive given to the member because these funds are non-refundable.
- Upon becoming a member, the obligatory share deposit will become part of Egerton University SACCO’s capital.
- On resignation of a member, the share capital is not refunded but can be transferred to another Sacco member.