Home ยป Current Account

Cooperative Unions/Societies

Deposit account designed for checking transactions where deposit funds are drawn on demand as long as there are sufficient funds in the account and the bank is open for business. It can be operated by individuals as a personal current account and by Companies, Partnerships, Societies, Clubs and Associations as non-personal account

Main features: 
  • Unrestricted cash and cheque deposits and withdrawals.
  • Access to a variety of loan products and overdraft facilities.
  • Access to other bank services like money transfers, SMS and PC banking services.
  • Daily balances and mini-statements available on request.
  • Can be held both in local and foreign currencies.
  • Authority to operate the account can be delegated to third parties and dependants.
  • Account can be jointly operated as a Joint current account.
Basic Requirements:: 
  • Certified Copy of the Union or Society By-laws
  • Certified Copy of the Certificate of registration issued by the Registrar of Co-operatives.
  • AGM resolution to open the account with the seal and original signatures.
  • 2 references.
  • 2 passport photographs each for the account signatories.
  • Valid identification documents of account signatories.
  • Opening cash deposit of only UShs. 200,000/=.
  • Physical presence of all signatories during opening of account.