Chama Investment Account
Chama Investment Account is designed to suit formal and informal savings groups (chamas) such as limited companies, self-help groups, investment Clubs, welfare Groups, partnerships, merry-go-rounds and other dynamic groups. It offers chamas an opportunity to see their investment grow.
Features
- No monthly charges
- No minimum monthly account balance
- Access to mobile banking through Pay Bill 222111 & Internet banking
- Cheque book available
Benefits
- Chama members are eligible to join Family Bank Business Club with benefits including International trips & express counter services
- Access to Chama Loans of up to 10 times the group savings
- Free internal standing order to the Chama Account for Family Bank account holders
- Assignment of a dedicated relationship officer to handle the Chama Business / Chama loan processing
- Fast loan processing
- Family Bank will facilitate investment in treasury bills, bonds, commercial papers, and shares
Requirements
Groups Registered with Social Services (Self Help Groups)
- Group’s certificate of registration
- Group constitution
- National ID cards/Passports & PIN Certificates of the office bearers
- Confirmed and duly signed minutes for the meeting where a resolution to open an account with Family Bank was passed
Groups Registered as a Limited Company
- Group’s incorporation certificate
- Memorandum & Articles of Association / CR1, CR2 & CR12
- Directors’ Resolution to open an account with Family Bank
- Copy of ID/Passport & PIN certificate for the directors
- Company’s PIN certificate
Unregistered Groups
- Copy of ID/Passport & PIN certificate for the signatories
- Confirmed and duly signed minutes for the meeting where a resolution to open an account with Family Bank was passed
See also
Church Account
Specialized banking for religious organizations
Business Current Account
Manage your day-to-day business finances
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