New England Kenya Diaspora Sacco was born out of needs of Kenyans living in the united states and its environs trying to meet their financial needs such as; accessibility to affordable credit to start a business, purchase a house or land or to meet family needs abroad or just to build future nest eggs.
To ensure that our customers financial needs are met, we listen and then design a personalized plan that can help reach their financial goals.
In addition to that, New England Kenya Diaspora Sacco offers a wide spectrum of financial services namely;
- Secured accounts or regular cash savings
- Personal loans
- Emergency loans
- Advanced air ticket loans
- Mortgages and home equity.
- Loans to purchase of land or plot
Regular cash savings
This is the Main Savings Account attached to your membership in the SACCO. This main Savings account is NOT a deposit and withdrawing account like it is in a regular bank.
The objective of this Savings account is for long term savings to build long term savings for future use and development goals.
As stated above, regular cash savings enables members to qualify for loans of upto four (x4) their main savings contributions. This loans can be used in a large spectrum of ways, either to buy or construct a residential house, purchase a plot, take out an education loan, holiday or vacation loan or other short-term loan to meet personal needs.
This are short-term loans for personal need such as medical bills, funeral expenses, court fines and other unexpected calamities. This are low interest loans that attract interest rate of 2.0 % per month on a reducing balance with a maximum repayment period of one year (12 months). This is a soft loan to our members and it has no loan processing fee.
Advanced Air Ticket Loans: this are short term loans to purchase an air ticket.
For more information please call 203-214-5768