Notice of 47th AGM

Dear Member,

Notice is hereby given that the Forty-Seventh Annual General Meeting (47th AGM) of Balozi SACCO shall be held virtually on Friday 12th February 2021 starting at 1.00 p.m. to conduct the following business:

1. Consider and confirm the minutes of the 46th Annual General Meeting held on 7th February 2020.
2. Receive and discuss Chairman’s and Supervisory Committee reports for the year ending 31st December 2020.
3. Consider and adopt audited financial statements for year ended 31st December, 2020 and determine disposal of surplus thereof.
4. Consider and approve:
   (a)Supplimentary budget estimates for the year 2021.
   (b)Budget estimates for the year 2022.
5. Determine society’s maximum borrowing powers.
6. Authorize the Board of Directors to appoint auditor for the year 2021.
7. Elect the Board of Directors and Supervisory Committee members retiring on rotational basis.
8. Discuss any other business (A.O.B) for which due notice has been received in accordance with the By-laws. Please note that this must be by written notice to reach the Chairperson, Board of Directors by 9th February 2021 i.e. three days before the meeting.
9. Approve amendments to SACCO By-laws.
10. Pass resolutions for the year 2021.

Please note that the link for the meeting will be shared later.

You are all welcome.

 

James Mutisya
Honorary Secretary
Nairobi, Kenya.
26th January 2021.

Notice 01/2021

NOTICE 01/2021

Dear member, please note the following:

(A) PLOUGH BACK OF DIVIDEND/INTEREST ON DEPOSITS
The SACCO wishes to request members who want to plough back (re-invest) part/whole of their dividend/interest on deposits for the year 2020 to inform the office in writing. The ploughed back amount qualifies immediately for loan consideration. Kindly indicate the percentage or amount you would wish to plough back to your deposits or payoff your loan(s).

(B) UPDATE OF BANK DETAILS
Members who might have changed their bank details for receiving dividend/interest on deposits are requested to furnish the office with their bank details (Account name, bank name, account number and branch). Kindly confirm your bank details from the Members Portal and only forward your preferred bank details if it is different from the one in the Members Portal.
Deadline: Please send the above requested information to This email address is being protected from spambots. You need JavaScript enabled to view it. on or before Monday, January 18th, 2021.

(C) ANNUAL GENERAL MEETING (AGM)
The SACCO has sought authorization from the Commission for Cooperatives Development to hold a virtual meeting. You will be notified of the date for the AGM once the authorization is received.

Thank You.

Submission of documents

SUBJECT: SUBMISSION OF ELECTRONIC DOCUMENTS

Further to our notice on coronavirus, the SACCO is appealing to members to be sending their documents (including but not limited to loan forms, refund applications, membership applications, allotment forms, bank slips, remittance schedules) via email to This email address is being protected from spambots. You need JavaScript enabled to view it.. This  action will help in reducing congestion in the office and the risk of transmission of the virus through physical handling of documents.We pray that everyone in the SACCO family remains safe.

Guarantorship through email

SUBJECT: GUARANTORSHIP THROUGH EMAIL NOTIFICATION

This is to acknowledge that the country is undergoing difficult condition due to covid-19 and that has made majority of people work from home. Members applying for loans are now finding it hard to have their loan application forms physically signed by their guarantors. The board is therefore recommending to members to guarantee each other through e-mails.

The loanees and the guarantors will be required to observe the following:

  • The guarantor must specify the amount he/she is guaranteeing both in figures and in words.
  • The guarantor must use the same e-mail address as held in the office when declaring his guarantorship to the loanee. The e-mail address must be the one the SACCO has been using to communicate to the member.
  • The guarantor must give his membership number and specify the type of loan he/she is guaranteeing.
  • The guarantor should send the guarantorship e-mail to the loanee BUT not directly to the SACCO.
  • The loanee must fill the details of guarantors in the guarantorship table without the guarantor’s signatures.
  • The loanee will forward the loan application form together with all the guarantorship e-mails as attachments.
  • The office will be reaching out to guarantors to verify the authenticity of the guarantorship.

Note: This is a temporary measure that will be used together with the current practice until further notice. Observe social distancing to avoid the spread of COVID-19. #StayAtHome #StaySafe

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