A buffer fund for bereavement expenses of self and/or dependents covered, or exit on retirement after 15 years of continuous membership. All Sacco members are automatically enrolled in the EBF.
Source of Funds
Membership fee, Monthly Contribution, Interest from other acceptable sources.
Membership
All Wanaanga permanent Members shall automatically become members of EBF upon payment of registration fee
Dependants
The following dependant of a Member can be registered with EBF: Legal spouse(s), Biological and legally adopted Children below 22 years, Biological Parents
Monthly Contributions
The monthly contribution shall be financed as follows: Contributor: Ksh 200 Each dependant: Ksh 100
Benefits
KES 80,000 to next of kin in case of demise of the member or KES.40,000 upon exit from the Sacco having contributed for at least 15 years.
KES 20,000 for each covered dependant
NB: Failure to pay monthly contributions for three consecutive month shall be considered as defaulting and therefore no benefits payable to the member.
Claims
Claims shall be launched on EBF claim form with attachment of certified copies of death/burial permits and identity card of the member/next of kin. False claim may cause the member loose benefits and his/her membership. Claims must be launched within three months after death
Reminder
All members are urged to consider covering their dependants and also to regularly update the records of their next of kin.
Objectives
A buffer fund for bereavement expenses of self and/or dependents covered, or exit on retirement after 15 years of continuous membership. All Sacco members are automatically enrolled in the EBF.
Source of Funds
Membership fee, Monthly Contribution, Interest from other acceptable sources.
Membership
All Wanaanga permanent Members shall automatically become members of EBF upon payment of registration fee
Dependants
The following dependant of a Member can be registered with EBF: Legal spouse(s), Biological and legally adopted Children below 22 years, Biological Parents
Monthly Contributions
The monthly contribution shall be financed as follows: Contributor: Ksh 200 Each dependant: Ksh 100
Benefits
KES 80,000 to next of kin in case of demise of the member or KES.40,000 upon exit from the Sacco having contributed for at least 15 years.
KES 20,000 for each covered dependant
NB: Failure to pay monthly contributions for three consecutive month shall be considered as defaulting and therefore no benefits payable to the member.
Claims
Claims shall be launched on EBF claim form with attachment of certified copies of death/burial permits and identity card of the member/next of kin. False claim may cause the member loose benefits and his/her membership. Claims must be launched within three months after death
Reminder
All members are urged to consider covering their dependants and also to regularly update the records of their next of kin.