Mwalimu National Members’ Portal:

You can view your Statement, Guarantors, Ability, Deposits, Loan balance and other details you may need to inquire online through our Mwalimu National members’ portal.

1. Go to MEMBERS PORTAL on our website www.mwalimunational.coop;
2. Key in your Society Membership Number and then Click – “Don’t have an account”;
3. A window will open that prompts you to Key in your Membership Number and CAPTCHA characters;
4. After which, You will receive a system generated password into your phone;
5. Use the system generated password to log into the portal;
6. You will then be prompted to change your password;
7. Then finally, use your NEW password to access the portal from the comfort of your home or office.

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To access the Members’ Portal:

1. Open the Mwalimu National Website www.mwalimunational.coop
2. Go to the Members’ Portal icon at the top banner and select ‘Member Portal’.

If a member does not have a Password:

1. Select “Don’t have an account”
2. A password will be sent to an official member’s phone number registered in Mwalimu National.

3. You will receive an SMS as shown below:

Hi,
Below are you Members Portal login credentials.
Username: 0*****
Password: ******

After you get a Password, proceed to login as follows:

Feed your Member Number
beginning with 0______
Feed your Password

RE: ADVANCE AGAINST EXPECTED REBATE FOR YEAR 2021

Following the Mwalimu Sacco Board’s resolution on 30th August 2021, the second phase of Advance against expected.

Interest rebates for financial year 2021 will be rolled out from 14 January 2022.

The terms and conditions of the product will be as follows:

1. The advance will be accessed via the Go – mobile App platform and USSD *633#
2. From 1 January 2022 to ADM date, members will be eligible for 75% of projected at the rate of 5% on amount accessed.
3. The computation of the advance qualified for, will be based on member’s deposits balance as of 30 November 2021 on a month-on-month basis. The multiplying factor will be 7%.

It is important to note that 7% is just for purposes of administering the Advance product but NOT the rate of Interest rebate for year 2021. The rate for the year 2021 will be declared in the next ADM in 2022 based on full year’s financial performance and upon external audit.

4. Members who have defaulted on their loans’ obligations will NOT be eligible and hence do not qualify for the advance unless their accounts are regularized.

If you are a Mwalimu National member then you can log into the mwalimu sacco members portal and enjoy the following:

Personal details- These includes total deposits, total loan repayments and total shares.
Loans- Loan Application List and Loan Calculator
Customer Relations
Reports- The following statements can be viewed:

FOSA Statement
Guarantors Statement
Loans Guaranteed
Shares Capital Statement
Dividend 2019 Statement
Dividends
Member Statement

How to login to mwalimu national sacco portal membersportal.mwalimunational.coop

To log in to members portal click https://membersportal.mwalimunational.coop
Enter your membership number and login password

If you don’t know your password click on forgot account details and you’ll be prompted to enter your membership number. Thereafter a new password will be sent to the mobile phone number that you used to register your account.

How to calculate Mwalimu Sacco dividends for 2022

Just like other saccos, mwalimu national also pays dividends to members each year at the month of February. The sacco has declared dividends on total share capital (Kshs. 20,000) at 11.2%, rebates on deposits at 10.2% (your total amount at MNS minus the Kshs. 20,000 shares) and a withholding tax at 10% of dividends plus rebates.

Calculations for Mwalimu National sacco dividends:

Suppose the rebates on deposits of a member as at December 2020 is Kes. 100,000, capital shares at ksh 20,000 and he/she contributes Kes. 5,000, the total dividends will be calculated as follow:

HOW TO CALCULATE FOR DIVIDENDS	AMOUNT IN KSHS
10.2% of 100,000(Shares as at December 2018)	10,200
11.2% of 20,000(Capital shares)	2,240
10.2% of 5,000(January Contribution)	510
10.2% of 5,000 x 11/12(February contribution)	467.50
10.2% of 5,000 x 10/12(January contribution)	425
10.2% of 5,000 x 9/12(March contribution)	382.50
10.2% of 5,000 x 8/12(April contribution)	340
10.2% of 5,000 x 7/12(May contribution)	297.50
10.2% of 5,000 x 6/12(June contribution)	255
10.2% of 5,000 x 5/12(July contribution)	212.50
10.2% of 5,000 x 4/12(August contribution)	170
10.2% of 5,000 x 3/12(September contribution)	127.50
10.2% of 5,000 x 2/12(October contribution)	85
10.2% of 5,000 x 1/12(November contribution)	42.50
TOTAL	15,755
5% of 15, 755 ( Withdrawal Tax)	787.75
AMOUNT RECEIVED AS DIVIDENDS (15755-787.75)	14,967.25

Note that dividends is subject to the following deductions:

Excise duty
Processing fee

Amount expected in your account (net) is the Actual amount (as Calculated above) minus any advance amount taken.

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Tag Archives: mwalimu sacco app

Mwalimu National Sacco Guide on use of Members Portal pdf

MEMBER’S PORTAL

Mwalimu National Members’ Portal:

Continue Reading:

To access the Members’ Portal:

Mwalimu Sacco announces shares, rebates payment details 2022

RE: ADVANCE AGAINST EXPECTED REBATE FOR YEAR 2021

How to log into Mwalimu National Sacco portal and calculate your dividends

How to login to mwalimu national sacco portal membersportal.mwalimunational.coop

How to calculate Mwalimu Sacco dividends for 2022

Calculations for Mwalimu National sacco dividends:

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