Frequently Asked Questions

Welcome aboard as a new member of Koilege Sacco! We're thrilled you've joined us in our mission to foster financial transformation. Now, it's time to kickstart your savings journey, one step at a time. Your accumulated savings amount determines your loan limits.

Every year, we run the 52-week saving challenge, setting a target and encouraging members to save towards it. This year, our target is 2 million by the end of December, and you are encouraged to participate in the challenge by saving any amount weekly.

To SAVE:

- Dial *483*060# select option 1 for Deposit, Enter the amount you want to save then enter your PIN to complete the transaction. Or

Login to the app, tap Save, and follow the prompts, OR

- Use our Paybill: 4119403

Account Number: Your Member Number followed by S (e.g., 001S)

But saving isn't the only benefit of being part of Koilege Sacco. You also have access to our loan facilities which are designed to improve your financial freedom.

Here's what you can do next:

1. Complete your profile: Ensure that your information is up to date. Upload your picture and ID, and update your next of kin.
2. Dive into the challenge: Start saving weekly towards our collective goal.
3. Explore loan options: Familiarize yourself with our loan products and their terms.
4. Stay informed: Attend member meetings and events to stay up-to-date on Sacco activities.
5. Connect with fellow members: Engage with our community and share insights and experiences.
6. Review your goals: Take time to reflect on your financial aspirations and how Koilege Sacco can partner with you to achieve them.

Happy Saving!

To Buy shares or save your contributions you can use three approaches:

How do I save via USSD?

1. Dial *483*060# select option 1 for Deposit,
2. Enter the amount you want to save,
3. Enter your PIN to complete the transaction. Or

How do I save via the App?

1. Login to the Koilege Sacco app,
2. tap Save Now,
3. On the popup Screen, enter the amount you want to save and tap Submit

How do I save via Mpesa

1. Go to Paybill
2. Enter Paybill Number: 4119403
3. Enter Account Number: Your Member Number followed by S (e.g., 001S)
4. Enter the Amount you want to save and click OK.
5. An STK push will promt you to enter your Pin. Enter your Pin and click OK

To Borrow a Loan you can use the Following three Approaches

How do I Borrow a Loan via USSD?

1. Dial *483*060# and select option 2 for Borrow.
2. Enter the amount you want to Borrow,
3. Enter the repayment repayment periods in months you want to pay, and you will receive a confirmation message .
4. If its Instant loan, the loan will be disbursed to your mpesa,

How do I borrow Using Koilege App?

1. Login to Koilege Sacco App
2. In the Home Screen tap “Borrow”
3. Tap on the Loan product you want to borrow (Each loan product have a description, go through each product and choose one that best suits your needs)
4. Enter the Amount you want to Borrow and the duration then Tap “Submit”
5. In the next page, you will be notified if the Loan if the Loan is “Fully Guaranteed” If fully guaranteed, tap confirm Loan. Otherwise, add guarantors until it is Fully Guaranteed then tap “Confirm Loan”
6. You will receive a Promt asking if you are sure or not, Click Yes.
7. If it is an Instant Loan, the loan will be disbursed to your transaction account where you can transfer to your Mpesa, or use it for other transactions.

How do I borrow a Loan in the Office?

Visit our office and fill out the Loan forms then Submit to the Loan Officer for Review. Note, you can also request the form to be sent via email, fill out, Scan then send back. Our email address is [email protected] or [email protected] the loan officer will review your form, if qualified, disburse the funds to your Mpesa.

You can pay your Sacco Loan using 3 approaches

How do I pay my Loan using USSD?

1. Dial *483*060#
2. Select option 3 Pay Loan,
3. Select the loan ID you want to pay,
4. Enter the amount,
5. then enter the Pin and press Ok,

How do I pay my Loan using Koilege Sacco App?

1. Login to the app,
2. Tap on Pay Loan,
3. Choose the Loan you want to pay, on the popup screen click submit.
4. An STK push will prompt you to enter your Mpesa Pin.
5. Enter your Mpesa Pin and click OK.

How do I Pay a Loan using Koilege Sacco Paybill?

1. Go to Paybill,
2. Enter our Sacco Paybill Number: 4119403
3. Account Number: Your Member Number followed by S (e.g., 001S)
4. Enter the Amount
5. An STK push will prompt you to enter your Pin. Enter your Pin and click OK

The share capital account is where records of transactions of Share capital (non-withdrawable deposits) purchased is kept. The minimum share capital is Ksh 5000 (10 shares of 500 each). After registration, any savings you deposit to the Sacco is transferred to the share capital account until you attain the minimum shares. If you purchase share capital from other members of Koilege Sacco, it will also be captured in the share capital account.

The savings accounts is where all the records of transactions of contributions (withdrawable deposits) are kept. Any savings you deposit to Koilege Sacco after paying registration fee and minimum share capital is recorded here.

The transactional account is your mobile wallet where funds that can be transferred to your mobile wallet e.g Mpesa, Paypal, or bank account is Kept. For example, if you borrow a loan and it is approved, it will be put in your transaction account. From there you can transfer to Mpesa, bank or even use the funds to buy goods and services.

Yes, if you do not have any outstanding loan or guarantee a loan that it is still uncleared, you only need to write an email or send a letter to notify the Sacco. The notice expires after 60 days and your refund is made. Otherwise, you need to clear your loan, and find guarantors to replace you in all the uncleared loans you guaranteed before exit.

No, we only have the headquarters, since we are a digital service, we are available online 24/7. There has never been any need for opening offices since our services are automated. However, if there will be the need, then we shall through the guidance of the ministry of cooperatives.

No, the loans are insured against death and permanent disability. However, proof of the same has to be presented.

Yes, you can.

1. Go to Mpesa,
2. Lipa na Mpesa
3. Enter business number 4119403
4. For account, enter the number of the member you want to pay followed by S e.g 001S

To reset your password, tap on Forgot Password button, you will be sent a verification code to your phone number. Use the code to reset the password or call the offices for assistance.

Yes, you can get a loan.

Each Koilege Sacco member has been issued a referral code which enables them to be agent at will. The member is required to share their code with people interested to Join the Sacco during recruitment. Potential members are required to use the member’s referral code when registering.

To Know your code, dial *483*060# select my Account, Invite Friend or go to the Mobile app tap on the Triple Bar(Remember to insert the Triple bar Icon here) to open the side bar then tap Invite Friend.

You earn:

1. Ksh 100 instantly when a person you refer pays the registration fee.
2. Additional Ksh 200 when a member fully pays the minimum Share capital