AWE Chama Savings

The Chama Savings account is a withdrawable deposit account that targets members with group savings commonly known in Kenya as “Chama”. The members of the group need not be AWE Sacco members provided one third of the group members are AWE Sacco member.

  • The group must have at least one third of the members who are AWE Sacco members.
  • The group must have at least three signatories to the account.
  • Minutes of the group meeting authorizing the officials to open the account shall be required to open the account.
  • The group must have a name preferably registered.
  • The mode of contribution is Mpesa, check-off, standing order or by direct deposit.
  • Minimum account maintenance balance is Ksh.5,000.
  • Minimum monthly deposits of Kshs 10,000.