Wana-anga Front Office serces (Wanfro) commenced in 1998 after the Co-operative Act Cap 460 was reviewed and Societies allowed to operate independently with limited supervision by Ministry of Co-operatives. For the last 14 years Wanafro has developed into a fully fredged bank or Fosa offering all services that a commercial bank can offer. The services offered by Wana-anga Front Office (Wanafro) include Bankers Cheques, Fixed Deposits, Saving Accounts, Money transfer, M-pesa services, Loans and Advances, Salaries Processing among others.

Currently Wanafro offers the highly competitive interest rates on fixed deposits that rival any financial institution in the country where interest are negotiated by the customer to his/her satisfaction. The rates range from 10% – 13% depending on the amount being fixed. This has enabled the society to operate without any liquidity constraints.

Bankers / Third party cheques.

Wanafro is offering Bankers cheques in the FOSA for paying school fees and also making any payments to a third party at very competitive price. The fosa also encashes cheques so all customers can deposit them in their savings account. All members of Wana-anga have their savings account opened in the fosa automatically when the member joins the society free of any charge. Hence all loans, salaries and payments are disbursed through members account.

Interest rates

Wana-anga Fosa offers very competitive rates for savings not comparable to other commercial and financial institution.

Loans and Advances Our Fosa offers some of the best loans facilities and Advances and the interest charged ranges from 2% to a maximum of 14.5% depending on the amount taken and payment period. The Fosa always has more than enough funds. Loans can be taken based on the payslip and guarantors shares. Loans can also be taken with a fixed deposits as security for the duration of loan. All loans are processed with a day regardless of the amount and unlike other financial institutions no processing fee or commission is charged.


Wana-anga is a designated Pay Point for salaries by Directorate of Personnel Management (DPM) in the ministry of state for public service. The salaries for Civil Service, Teachers, Uniformed offices or from any employer/employee.

M-pesa services

Money transfer these days is electronic and thus the Fosa has an M-pesa kiosk with the Office where upto Ksh 10,000,000 can be transacted in a single day. Members can also open M-pesa points in their localities which will be registered as a Wana-anga branch. Many loans and refunds are disbursed through m-pesa with members approval. All dividend in future will be paid through M-pesa in Wanafro. Members can also make payment of shares and loans through M-pesa.

Automated Teller Machines (ATM)

Wana-anga Society has the SACCOLINK ATM solution where members are able to access funds in their accounts held at the Fosa anytime of the day from any ATM of the Major commercial banks and Pesa Points. The Society has finalized arrangements with Co-operative Bank to issue ATM cards where one will be able to use it to access funds in Fosa and pay for goods and services using its card.

Sacco Societies Regulatory Authority (SASRA)

The co-operative Societies Act 2008 came into effect in December 2009 and was operationalized in June 2010. The result of this is formation of SASRA to licence and regulate all deposit taking Sacco Societies with operational Fosa have to be licensed a fresh under very stringent requirements. This involved feasibility studies, Building of a banking hall, security systems including strong rooms and contracting security guards. What SASRA requirements means is that it will no longer be business as usual and the requirements for eligibility for loans and advances will mean business un-usual and only performing loans will be granted to members.

  • A subcommittee under Board of management shall manage the front office operations
  • The subcommittee shall consist of a Chairman, Secretary and a member elected from Board of Management.

    The duties of the sub-committee shall be;

  • To receive deposits from members
  • To pay interest on members deposits as may be decided by the Board
  • To loan out the amount deposited to members at an interest that may be decided by the Board
  • To ensure recovery of loans given to members
  • To encourage members to open Savings Accounts and Children’s Accounts which will earn interest at a rate that may be decided by Board
  • To ensure that the books of Accounts for the front office operations are up to date
  • To ensure that Receipts are issued for every money received
  • To ensure security on Banking and withdrawal of cash
  • To present up to date list of all loans granted to members and list of depositors at every monthly meeting of Board
  • To review rules and regulations governing wanafro from time to time
  • To undertake any other duties that may be decided by the Board
  • It is open to all
  • All members will fill prescribed contracts forms on application. The contract form will be approved by the authorized officials
  • Deposits will either be in Cash, Bankers Cheque /Drafts or Bank Transfers
  • The commencement of the contract will be effective on the day of Cash payment or on the date of Bankers Cheque being cleared or the date of receipt in case of transfer
  • All deposits will mature after not less than three(3)months
  • No interest shall be paid outside the period of the contract
  • On termination of the contract before the maturity date, the depositors will be charged 1% of the amount deposited as a penalty
  • Renewal of the contract will commence on the date of receipt of the application.
  • It is open to all
  • All Wana-anga Members are automatic holders of a savings account in Wana-anga
  • All Members loans shall be be disbursed through the account
  • All members will be required to fill an application form
  • A member may open a Savings Account upon depositing a non-refundable deposit of Ksh.1,000/=
  • All deposits in the savings Account shall either be in Cash or Cheque in the name of Wana- Anga Sacco
  • Savings Account may be serviced through Check-Off system
  • Members may withdraw from a savings Account if it has a Cash Balance and no outstanding SASA loan
  • One can withdrawal from Savings Account as need arise
  • There will be a ledger fee on Savings Account decided by Board
  • The Account shall be operated by the Account holder/holders
  • For Co-operate members, at least three(3) signatories shall be required for any Withdrawal/Transaction
  • Interest rate on Savings shall be decided by the Board
  • Account holders will be issued with Savings Account Passbook
  • A notice of 15 days will be required for closure of the A/c and the Board will determine the Commission fee to be paid by the account holder.
  • A member may open a children’s Account by depositing Ksh.500/=
  • Guardians/Parents will be required to fill in an Application Form accompanied by the Identity cards(ID)/Birth Certificates of the children
  • The Account once opened is for the welfare of the child
  • The Board shall determine the interest on the Child’s Account
  • A notice of 15 days will be required for closure of the Account and the Board will determine a commission/fee to be paid
  • One can either open Christmas, Easter or Idd-ul-fitr Accounts or any other type of Account to save for the occasion
  • Minimum deposit for the account shall be Ksh.1,000/=
  • Withdrawal from these Account shall be at the time of the said Occasion /Holiday
  • The Board shall determine the interest on these Accounts
  • A token determined by the Board will be given to Account holder/s who maintain a minimum Balance of Ksh.10,000/= for three(3)months.
  • All application shall be made on the Official Loan Application Form
  • One can be loaned if all Loans are running and has the ability to repay
  • All Loans must be fully secured
  • All Loans will be granted with a maximum repayment period of 12 months
  • Members having a Savings Account, are eligible for these Loan
  • The Loan Application Forms must be dully completed and supported with two current pay slips plus any other relevant documents
  • If a member defaults on the loan repayment, the guarantor/s will service the Loan.

    (Private Employment, Jua Kali etc.)

  • All applicants will fill in Wana-Anga Application Form to be approved by the Central Management Committee and must pay Ksh.500/= Entrance Fee
  • Contributions will be submitted in Cash, Bankers Cheque or Bank Standing Orders
  • All members will join under Savings Account
  • They will be eligible for Loans after six(6)months in the Savings Account that can be up to three(3)times their Savings
  • All Loans must be fully guaranteed by guarantors who are members of Wana-Anga in common bond or members Savings that are free
  • If one has guaranteed another members loan using his/her Savings as Surety, the Savings cannot be withdrawn until the Loan is fully repaid
  • A notice of three(3)months is needed for a member to resign
  • A minimum monthly contribution of Ksh. 200/=.
  • All applicants will fill in the Application Forms and pay Ksh.500/= Entrance Fee
  • One must be employed and have a pay slip
  • The employer must agree to remit the Loan recovery on a monthly bases
  • The Net Balance on the pay slip must be at least 20% of the Gross Income
  • Loans must be guaranteed by Wana-Anga members
  • These applicants must be members who have applied and are willing to join Wana-Anga.


  • A Cheque will be opened only on payment of a Commission determined by the Board
  • Cancellation and Replacement of Cheque can only be done on payment of a Commission determined by the Board
  • Banker cheque are issued to members at a commission determined by the Board
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