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Mission and visionNew Products
Value chain financing
WPS mission is to empower people by mobilizing financial resources and increase access to financial services for improvement and strengthening of the economic and social well-being of stakeholders. This being the case, WPS has committed itself to providing products and services that cater to the needs of the people within its areas of operation.
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Coffee Rehabilitation Loan
WPS in partnership with the government brings to its members, through the Coffee Development fund, The Coffee Rehabilitation Loan
This is a medium term credit facility provided by the Coffee Development Fund (Codf) to the coffee growers through Intermediaries or directly for the purpose of rehabilitating coffee trees. The facility is aimed at the trees with productivity of at least 1.0 Kg of cherry per annum; where improved production requires relatively more effort in terms of crop husbandry.
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Savings Account
WPS has the following savings accounts:
1. Ordinary Savings Account
This is a transactional account used to make deposits and withdrawals. It receives salaries, farm produce payments among others.
Features
- Registration fee of Kshs. 100
- No minimum opening balance
- Minimum operating balance of Kshs. 1000
- Ledger fee of Kshs. 50 per month for account balance below Kshs. 3000
- Ledger fee of Kshs. 20 per month for account with balance between Kshs. 3000 and Kshs. 7000
- No ledger fee for account balance of over Kshs. 7000
- Can be operated jointly
- Withdrawal evry seven days
- Can withdraw up to Kshs 50,000 without notice
- An ATM card, together with the M-Banking application are provided
- Competitive interest rates
- Low minimum balance
- Customers have 24-7 access to their funds with the aid of the ATMs and their mobile phones.
2. Wakenya Akiba Account
This is a fixed deposit account for 3,6,9,12 months with attractive interest rates.
Features
- No ledger fee
- No transaction fee
- Minimum deposit of Kshs. 2000 can be kept in for 3, 6, 9 or 12 months with different size and term accounts
- Attractive interest rates (rates are regularly adjusted to match changes in the industry)
- Encourages savings to meet future activities
3. Mapatano Account
This is an account that targets small scale entrepreneuers and does not attract any bank charges. Partly acts as a fixed deposit account for retailers, salonists, tailors, carpenters, mama mboga, shoe shiners, etc.
Features
- No ledger fee
- No transaction fee
- No minimum opening balance is required
- No minimum operating balance is maintained
- Can save as little as Kshs. 200 per month or more
- Can withdraw all the money at the end of the contractual period
- Gives small scale business people an opportunity to save as low amounts as they want
- Enhances accomplishment of identified activities at a future date, hence future of business is taken care of
- Enhances planned spending
4. Mwanangu Account
This is an account for minors operated by the parent/guardian.
Features
- No ledger fee is charged
- No transaction fee is charged
- Registration fee is as low as Kshs. 100
- Savings are as low as Kshs. 50 per month
- Can conveniently put a check-off system from your salary
- No minimum opening balance
- No minimum operating balance
- Minimum interest bearing balance of Kshs 10,000
- Money may be withdrawn at maturity
- If amount saved is over KShs. 10,000, there will be yearly educational tours, Christmas gifts among others
- An opportunity for a parent or guardian to save for a child
- Money saved up to maturity can be withdrawn to meet expenses for a child, like school fees
- Educational tours provide an opportunity for children to go and learn