The Prime Account is a withdrawable deposit account that members use as a transaction account and can also be used for savings purposes. The account caters for members' regular transactions like salaries and loans processing; cash and cheque deposits; electronic funds transfers; standing orders etc.
The account operates as follows:-
- The account maintenance balance is Ksh.2,000
- The minimum interest earning balance is Ksh. 50,000
- Interest is calculated monthly and credited at the month.
- The Fosa Account holders are eligible for ATM card services which shall be issued and operated in accordance with the Society's ATM card procedure.
- The Fosa Account holders are eligible for M-sacco services.
- A member can make regular savings to the Fosa Savings Account through a check-off arrangement with the employer.
- The account attracts no monthly charges or account maintenance fees.
- Withdrawal fees shall be in as stipulated in the Fosa Tariff Guide.
- Maximum withdrawal limits will be in accordance with the Fosa Tariff Guide.
Below is the chart for tarrifs and benefits;
|1.||Cash withdrawal-Coop Bank ATM||30|
|2.||Cash withdrawal-Non co-op Bank Visa branded ATM||200|
|3.||Sacco Link card –Application||250|
|4.||Request for official letters||200|
|8.||Returned Bankers Cheque||500|
|9.||Fosa cheque deposits||200|
|11.||Share boosting charged (Prorated in 6 months)||4.05%|
|12.||Membership Entrance fees||1,000|
|13.||Membership Re-joining fees||3,000|
|14.||Closing of Fosa accounts||2,000|
|15.||Immediate withdrawal of membership||1.05% (minimun Ksh. 2,000)|
|16.||Shares (share Capital) Transfers||1,000|
|18.||Printing of members statements and other periodics||100 per page|
|19.||Copies of requested documents||100 per page|
|20.||M-sacco Cash withdrawal||60|
|21.||Bridging of Loan||3% of outstanding loan balance|