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How to log into Mwalimu National Sacco portal and calculate your dividends

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If you are a Mwalimu National member then you can log into the mwalimu sacco members portal and enjoy the following:

  1. Personal details- These includes total deposits, total loan repayments and total shares.
  2. Loans- Loan Application List and Loan Calculator
  3. Customer Relations
  4. Reports- The following statements can be viewed:
  • FOSA Statement
  •  Guarantors Statement
  •  Loans Guaranteed
  •  Shares Capital Statement
  •  Dividend 2019 Statement
  •  Dividends
  •  Member Statement

How to login to mwalimu national sacco portal membersportal.mwalimunational.coop

If you don’t know your password click on forgot account details and you’ll be prompted to enter your membership number. Thereafter a new password will be sent to the mobile phone number that you used to register your account.

How to calculate Mwalimu Sacco dividends for 2022

Just like other saccos, mwalimu national also pays dividends to members each year at the month of February. The sacco has declared dividends on total share capital (Kshs. 20,000) at 11.2%, rebates on deposits at 10.2% (your total amount at MNS minus the Kshs. 20,000 shares) and a withholding tax at 10% of dividends plus rebates.

Calculations for Mwalimu National sacco dividends:

Suppose the rebates on deposits of a member as at December 2020 is Kes. 100,000, capital shares at ksh 20,000 and he/she contributes Kes. 5,000, the total dividends will be calculated as follow:

HOW TO CALCULATE FOR DIVIDENDS AMOUNT IN KSHS
10.2% of 100,000(Shares as at December 2018) 10,200
11.2% of 20,000(Capital shares) 2,240
10.2% of 5,000(January Contribution) 510
10.2% of 5,000 x 11/12(February  contribution) 467.50
10.2% of 5,000 x 10/12(January  contribution) 425
10.2% of 5,000 x 9/12(March  contribution) 382.50
10.2% of 5,000 x 8/12(April  contribution) 340
10.2% of 5,000 x 7/12(May  contribution) 297.50
10.2% of 5,000 x 6/12(June  contribution) 255
10.2% of 5,000 x 5/12(July  contribution) 212.50
10.2% of 5,000 x 4/12(August  contribution) 170
10.2% of 5,000 x 3/12(September  contribution) 127.50
10.2% of 5,000 x 2/12(October  contribution) 85
10.2% of 5,000 x 1/12(November  contribution) 42.50
TOTAL 15,755
5% of 15, 755 ( Withdrawal Tax) 787.75
AMOUNT RECEIVED AS DIVIDENDS (15755-787.75) 14,967.25

Note that dividends is subject to the following deductions:

  1. Excise duty
  2. Processing fee

Amount  expected in your account (net) is the Actual amount (as Calculated above) minus any advance amount taken.

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Mwalimu National Sacco Guide on use of Members Portal pdf

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MEMBER’S PORTAL

Mwalimu National Members’ Portal:

You can view your Statement, Guarantors, Ability, Deposits, Loan balance and other details you may need to inquire online through our Mwalimu National members’ portal.

1. Go to MEMBERS PORTAL on our website www.mwalimunational.coop;
2. Key in your Society Membership Number and then Click – “Don’t have an account”;
3. A window will open that prompts you to Key in your Membership Number and CAPTCHA characters;
4. After which, You will receive a system generated password into your phone;
5. Use the system generated password to log into the portal;
6. You will then be prompted to change your password;
7. Then finally, use your NEW password to access the portal from the comfort of your home or office.

Continue Reading:

Mwalimu National SACCO members portal login, website and many more

Mwalimu National SACCO Loans, Branches, Contacts, Forms

To access the Members’ Portal:

1. Open the Mwalimu National Website www.mwalimunational.coop
2. Go to the Members’ Portal icon at the top banner and select ‘Member Portal’.

If a member does not have a Password:

1. Select “Don’t have an account”
2. A password will be sent to an official member’s phone number registered in Mwalimu National.

3. You will receive an SMS as shown below:

Hi,
Below are you Members Portal login credentials.
Username: 0*****
Password: ******

After you get a Password, proceed to login as follows:

Feed your Member Number
beginning with 0______
Feed your Password

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mwalimu sacco loans,
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mwalimu sacco contacts,
mwalimu national sacco mobile banking,
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Mwalimu National SACCO, Mwalimu Mashinani, Agency Banking, Mobile loans and App; How to apply for loans via phone

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In line with improving Mwalimu SACCO’s provision of financial services and products, the SACCO is pleased to inform members that the interest rate for their M-loan product has been revised to 4% per month. This product is available to members whose salaries are paid through FOSA and members who have SAYE accounts in FOSA. For more information, please reach us on 0709898000 or on our free SMS line 20156.

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Mobile services.

Go-Mobile

Go-mobile is a mobile banking system that enables members transact at the comfort of their home or offices.

Go-mobile banking system
Go-mobile banking system

Do your banking from wherever you are through Mwalimu National’s new downloadable App or via short code *286*51#. The app is available on Android, ITunes, windows etc. With Go-Mobile you are able to:

  • Transfer money
  • Check your account balance
  • Access your mini statement

One needs to register for the Go Mobile service at the nearest Mwalimu National FOSA branch. Upon activation, he/she will receive a username and M-pin. Members should change their M-pins the first time they access this service. In case of further queries, kindly contact Mwalimu National on 0709 898 000.

Here are links to the most important news portals:

MWALIMU SACCO LOANS.

Why SACCO Loans are better

SACCO loans DO NOT have hidden charges but Bank loans have A LOT OF HIDDEN CHARGES besides monthly charges. Some of these charges include:

  • Insurance fee.
  • Appraisal/ Processing Fee
  • Account Maintenance Commission
  • Accrued Interest Charges (Arrears Account)
  • Late Remittance charges
  • Premature Loan Clearance charges.

NOTE: Banks have yearly reappraisals to determine interests to charge. This implies that the interest rates will vary within the lifespan of the loan. As and when interests in the money market change (upwards), the interests on running loans are also adjusted (upwards) without giving notice to the loanee.

A). BOSA LOAN PRODUCTS

Back Office Services Activities (BOSA) is a department in Mwalimu National which offers various loan products against members’ deposits.

Wezesha Loan

Unlike ALL other products, WEZESHA (to enable) is the ONLY product that a member does not have to wait for six (6) months before applying for a loan. Mwalimu National enables YOU (new member) to access funds of up to Kshs 600,000 immediately your first  savings deduction goes through. ONLY 1/3 of Kshs 600,000 will be retained in the new members account as savings.

Terms and conditions of wezesha loan

  1. This product is for new members only.
  2. Rate is 13% p.a on reducing balance.
  3. Wezesha loan runs for a maximum of 36 months
  4. 2% wezesha processing fee shall be charged on the amount to be advanced.
  5. Maximum loan amount to be issued shall not exceed Ksh.600, 000.
  6. The loan should be fully guaranteed.
  7. The minimum period for a member to qualify shall apply as per the sacco by-laws.
  8. Shares boosted shall earn dividends on pro-rata basis.

Emergency Loan

  1. Granted for unforeseen circumstances.
  2. Applicable interest rate is 1%p.m on reducing balance.
  3. Repayable in 12months.
  4. Multipler is x5 (subject to 1/3 salary rule).
  5. Only one emergency loan can be granted at a time.

School Fees Loan

  1. Granted for education purposes only.
  2. 1% p.m interest rate on reducing balance.
  3. Repayable in 12months.
  4. Maximum limit is a member’s deposit x5 (subject to 1/3 salary rule).
  5. Only one school fees loan to be granted at a time.

Normal Loan

  1. Granted as a short term loan aimed at helping members meet their immediet finacial needs.
  2. 1% p.m on reducing balance.
  3. Repayable in 36months.
  4. Limit is a member’s deposit x3 (subject to 1/3 salary rule).
  5. One normal loan to be granted at a time.

Development Loan

  1. Granted as medium-term loan for investment purposes.
  2. Applicable interest rate is 1.17% p.m on reducing balance.
  3. Repayable in 48months.
  4. Maximum limit is a member’s deposit x4 (subject to 1/3 salary rule)
  5. One development loan granted at a time.

Super Loan

  1. Granted as long-term loan for investment purposes.
  2. Interest rate is at 1.20% p.m.
  3. Repayable in 60months.
  4. Maximum limit is a member’s deposit x4 (subject to 1/3 salary rule)
  5. Only one super loan granted at a time.

Vision 84

  1. Long term loan for investment purposes.
  2. Interest rate is 1.29 p.m on reducing balance.
  3. Repayment period in 84months.
  4. The limit is a member’s deposit x5 (subject to 1/3 salary rule)

B). FOSA PRODUCTS

Front Office Services Activities (FOSA) is the banking arm of Mwalimu National that provides basic and affordable banking services to meet members’ needs.

Salary in Advance

  • The Interest Rate is 5%.
  • Maximum amount borrowed is 80% of your net salary or S.A.Y.E
  • Repayable @ the end of the month

FOSA Instant Credit(24 Months)

  • FOSA instant credit (24 months)
  • Interest rate @ 1.5% per month on reducing balance
  • Repayment period is 24 months.
  • Maximum amount granted is your savings under S.A.Y.E x16

FOSA Instant Credit(12 Months)

  • Interest rate is 1.25% Per month.
  • Repayment period is 12months.
  • Maximum amount granted is your net salary x16.
  • Maximum amount granted is your savings under S.A.Y.E x10.

M-Loan

Interest rate is dependent on the repayment period in that;

  • 1 month   @ 5%
  • 2 months @ 6 %
  • 3 months @ 7%
  • Maximum amount a member can borrow is up to 80% of his/her net salary or S.A.Y.E
  • Principal and interest amounts are recoverable at the end of each month.

Advance Dividends

This is a percentage of expected dividends that are normally paid earlier.

  • The interest rate is between 7.5% and 5% depending on the time a member requests for the advance dividends.
  • The maximum amount requested is 75% of your expected dividends.

Important Mwalimu SACCO links:

C). BUSINESS LOANS.

Individual loan

Clients with well established businesses, can access business loans directly without group requirements. The minimum loan for individual client is Kshs 501,000 and a maximum of Kshs 5,000,000.

Terms

  • Individual loans are offered at an interest rate of 1.25% p.m. on reducing balance.
  • Our repayment period is between 3-36 months depending on the amount borrowed.
  • The loan is self-secured and acceptable securities include logbooks and commercial title deeds.

Group Loans

Business Loans are disbursed to individual members within a group for expansion of existing income generating ventures. Such businesses must have been in operation for at least 6 months.

Group loans are done based on tiers.

  1. Tier one KSH 30,000 – KSH 150,000 (1.33% pm) payable in maximum 12months.
  2. Tier two KSH 151,000 – KSH 250,000 (1.33% pm) payable in maximum 24months.
  3. Tier three KSH 251,000 – KSH 500,000 (1.33% pm) payable in maximum 36months.

One has to start from tier one and graduate through the tiers within the program based on business ability. If successful, at tier three one can move to borrow as an individual client without the need of group.

MWALIMU MASHINANI

Mwalimu National SACCO has rolled out agency banking- MWALIMU MASHINANI; which has been piloted in the following regions:

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Mwalimu National SACCO website, Members Portal Login; https://membersportal.mwalimunational.coop:82/Login

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Mwalimu National SACCO is arguably one of the best SACCOs in Kenya. This is one of the largest African Sacco with a membership drawn from teachers all over Kenya. One of the notable milestone Mwalimu National SACCO has achieved is mwalimu sacco members portal where bonafide members can conveniently access services offered at the sacco online without physically visiting branch office.

MEMBERSHIP

The SACCO has 2 types of membership:

Class – A – Membership: These include Teachers and TSC Secretariat; among others as illustrated in the tree diagram below;

class a membership final

Class – B – Membership:

These cadre is made up of Students undertaking education-related studies leading to diplomas and degrees, in technical colleges and universities recognized by the Ministry in charge of Education.

Here are links to the most important news portals:

HOW TO USE THE MWALIMU SACCO MEMBERSHIP LOGIN PORTAL

Once a member log into the mwalimu sacco members portal, the following services can be enjoyed:

  1. Personal details- These includes total deposits, total loan repayments and total shares.
  2. Loans- Loan Application List and Loan Calculator
  3. Customer Relations
  4. Reports- The following statements can be viewed:
  • FOSA Statement
  •  Guarantors Statement
  •  Loans Guaranteed
  •  Shares Capital Statement
  •  Dividend 2018 Statement
  •  Dividends
  •  Member Statement

How to login to mwalimu national sacco portal membersportal.mwalimunational.coop

If you don’t know your password click on forgot account details and you’ll be prompted to enter your membership number. Thereafter a new password will be sent to the mobile phone number that you used to register your account.

Also read:

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Mwalimu National Sacco launches new loan products

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Mwalimu National Sacco has officially launched new loan products. Members can now enjoy the following loan products:

– Mwalimu Mortgage Loan
– Asset Financing Loan
– Mwalimu Insurance Premium Financing Loan

1. Mwalimu Affordable housing gives you a chance to own a home by affording a member:

– Between Ksh 500000 and Ksh 8 million
– At 9%p.a on reducing balance
– Repayment period of up to 25 years, subject to retirement age.

This is offered through:

– Mwalimu Makao
– Mwalimu Ujenzi
– Re-Mortgages

2.) Mwalimu Insurance Premium Financing enables a member to acquire insurance premium loan for all his/her needs. This affords one:

– Loan financing of up to 10 months
– Flexible repayment arrangements
– Repayment interest rate of 10% flat rate.

3.) Mwalimu Asset Financing Loan gives one a chance to own:

– New or second hand vehicle
– Commercial or Private vehicle.
This loan affords one:
– 60% to 80% maximum financing
– Loan repayment period between 1-5 years
– Repayment interest rate of 1.25%p.m on reducing balance.

For further information contact Mwalimu National Sacco offices or call 0709898000 or 070989845

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