Members of Savings and Credit Cooperative Societies (Saccos) have nothing to worry during these tough economic times, brought about by the Coronavirus pandemic.
This follows a move by Okoa sasa salary advance to offer loans to members especially those employed by the Teachers Service Commission, and other organizations.
The loan product is a quick service targeting mostly teachers employed by the Teachers Service Commission (TSC), or those in Kenya Teachers Sacco (KETSA).
The service is accessible through mobile banking service, accessed by dialing the USSD code *884#.
The lender also provides loans to employees of other organizations who meet the required standards.
All Sacco members whose salary passes through the Front Office Service Activity (FOSA) qualify to get the loan, which is paid through the salary by recovering from the FOSA account when the salary is processed.
To access through USSD CODE *884# as TSC Teacher, dial *884# and choose option one (teacher), enter your name, enter TSC Number, enter amount and enter duration in terms of months. You will receive a message indicating how much you can qualify for.
As an employee from other organizations, dial *884# and choose option two (other), enter your name, enter your organization. You’ll receive a message from Okoa Sasa with further instructions.