Dimkes Sacco: Branch Network and Financial Products Overview

Overview

Established in 1999, the Diocese of Mount Kenya South (Dimkes) Sacco is a prominent deposit-taking Savings and Credit Co-operative Society in Kenya, serving a diverse membership with an asset base exceeding KES 2.46 billion. Headquartered at Bishop Magua House, next to ACK St. James Cathedral in Kiambu, Dimkes Sacco offers a comprehensive range of loan and savings products tailored to support individuals, businesses, and groups. With 13 branches across Kiambu and surrounding areas, the Sacco is committed to fostering financial empowerment.

Financial Products

Dimkes Sacco provides a variety of loan and savings products designed to meet the needs of farmers, salaried individuals, entrepreneurs, and self-help groups.

Loan Products

1. Asset Finance

• Purpose: Financing capital assets like vehicles, construction equipment, industrial machinery, agricultural equipment, or land
• Features:
  • Finances 50–80% of asset cost, with the member funding the balance
  • Repayment period: 12–48 months
  • Interest: 1.33–1.5% per month on reducing balance
  • Assets jointly registered with the Sacco until fully repaid

1. School Fees Loan

• Purpose: Covering school fees
• Features:
  • Repayment period: 12 months
  • Interest: 12% per annum

1. Mkulima Loan

• Purpose: Supporting agricultural expansion, e.g., purchasing livestock
• Requirements: Active membership for at least 6 months, site visit by a credit officer
• Features:
  • Loan up to 3 times normal shares
  • Repayment period: Up to 36 months
  • Secured by guarantors, logbooks, farm machinery, or title deeds

1. Salary Advance

• Requirements: Salary account credited for at least 3 months, no more than 2/3 of salary committed
• Features:
  • Interest: 5% per month on reducing balance
  • Repayment period: Up to 3 months
  • All other loans must be performing

1. Loan Purchase Product

• Purpose: Refinancing existing loans from other institutions
• Requirements: Active membership for 6 months, proof of performing loan, 5% processing fee
• Features:
  • Repayment period: Up to 60 months
  • Secured by member-provided collateral

1. Local Purchase Order (LPO) Financing

• Requirements: Verifiable LPOs from trusted firms, supplier credit MOU, recent audited accounts, past contract details
• Features:
  • Finances up to 75% of LPO value
  • Interest: 2.5% per month on reducing balance
  • Repayment period: 1–6 months
  • 2.5% processing fee, plus excise duty and loan insurance

1. Medical Loan

• Purpose: Emergency medical expenses
• Features:
  • Loan up to 3 times normal shares
  • Interest: 12% per annum
  • Repayment period: Up to 24 months
  • Secured by guarantors, with supporting documents required

1. Biashara Loan

• Purpose: Starting or expanding businesses
• Requirements: Current account or normal shares (at least 1/3 of loan amount), business assessment by credit officer
• Features: Secured by guarantors, chattels mortgage, or collateral like logbooks or title deeds

1. Chama Loan

• Purpose: Wealth creation for registered self-help, welfare, or investment groups
• Requirements: Group registration, minimum 10 members, certified minutes, 6 months of consistent savings
• Features:
  • Loan up to KES 1 million, or KES 20 million with tangible security
  • Interest: As low as 1.25% per month on reducing balance
  • Repayment period: Up to 36 months
  • 2% processing fee, 0.6% annual loan insurance
  • Free training, financial advisory, and personalized cheque book

1. M-Chipuka Loan
   • Purpose: Instant mobile loan via the M-Chipuka app
   • Features: Up to KES 30,000 with quick disbursement

Savings Products

1. Current Deposit Account

• Demand deposits and withdrawals with overdraft services

1. Smart Savers Account

• Earns competitive interest, with withdrawals limited to once per quarter
• No maintenance fees

1. Fixed Deposit Account

• Minimum: KES 50,000
• Terms: 1, 3, 6, or 12 months
• Negotiable interest rates

1. Call Deposit Account

• Similar to fixed deposits, withdrawable with 7 days’ notice

1. Cheque Book

• Facilitates easy transactions

1. Junior Star Account

• For children under 18
• Opening fee: KES 500
• Competitive interest on balances above KES 5,000
• Free quarterly statements, standing orders, and banker’s cheques for school fees

Branch Network and Contacts

Dimkes Sacco operates 13 branches to serve its members across Kiambu and neighboring areas:

1. Head Office
   Location: Bishop Magua House, 2nd Floor, Kiambu (next to ACK St. James Cathedral)
   Phone: 0111 033 100 / 0719 212 730
   Email: [email protected]
2. Ngong Branch
   Contact: 0111 033 160
3. Kikuyu Branch
   Contact: 0111 033 171
4. Kiserian Branch
   Contact: 0111 033 191
5. Nairobi Branch
   Contact: 0111 033 161
6. Kangemi Branch
   Contact: 0111 033 140
7. Limuru Branch
   Contact: 0111 033 152
8. Wangige Bishop Kariuki Centre
   Contact: 0111 033 165
9. Wangige Town Branch
   Contact: 0111 033 145
10. Banana Branch
    Contact: 0111 033 170
11. Githunguri Branch
    Contact: 0111 033 180
12. Ruaka Branch
    Contact: 0111 033 190
13. Kimende Branch
    Contact: 0798 363 750

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