CANAAN HEAD OFFICE : MFANGANO TRADE CENTER 3RD FLOOR, MFANGANO STREET.P.O. BOX 9692-00200 NAIROBI, KENYA. TEL +254 202211229, +254725957597
Email: canaancreditlimited@gmail.com
Skype:canaancredit.bishopjacob
CREATING WEALTH, CHANGING LIVES
Canaan
Credit Limited was founded in 2008 as a Limited Liability Company. Our aim is
to bring financial inter mediation products for economic development among our
local assemblies and churches, the Company has its subsidiary Canaan
Multipurpose Cooperative Society Limited and operates and work with local
churches and the home cell fellowships / business groups’ which it empowers to
become economic micro-organs of Canaan Credit Ltd.
The
institution intends to diversify its operations country wide in order to reach
and achieve its strategic mission and vision.
It
leverages this through its MOTTO “Not
only powered by intellect and driven by value but also destined for greatness”
Canaan
Credit Limited aims to create wealth for its members who are in the Church by
giving them affordable up-market and attractive financial based products that
will develop their families and impact positively in their communities.
VISION: Empowering
communities through Financial Intermediations.
OBJECTIVES:
1. Bring
the church together to be able to strategically solidify our resources together
2. Consolidate
our resources to be able to expand our capital base so as to participate in
economic development.
3. Encourage
unity in the body of Christ in fighting Poverty and ignorance.
4. Eliminate
ignorance which is a major cause of poverty in Africa.
5. Come
up with ways and means through which enough food can be produced through
mechanized farming.
6. Encourage
stakeholders, churches, investors and like minded people to participate in
Winning war against Poverty by coming up with economically empowering
initiatives.
7.
The main objective of Canaan Credit Ltd is to empower the church
local assemblies and communities both socially and economically through
development of sustainable economic activities, hence alleviating poverty in
the country.
8.
Our interventions leads to increased household incomes,
improved nutrition, better education and often for the first time an account in
a local financial institution. In addition members are able to contribute to
the development of their communities.
9.
Canaan Credit Ltd also offer business mentoring programs
structured to benefit home fellowship members of our local churches where the
home cell groups will become micro-economic organs of the Canaan Micro
financing plan.
Members of the body of Christ,
Churches, and Kenyans are invited to join and acquire Canaan Sacco shares and
become part of this great work of the move of God to economically touch the
lives many people around the world.
CORE VALUES:
1. Integrity
2. Transparency
3. Good
governance
4. Accountability
5. Team
work
6. Creativity
7. Innovation
for global market
Organizational Structure
The organization is headed by a Board of
Directors of 9 which is aided by an advisory board. The President chairs the
board and below him is the Chief Executive Officer, who is aided by the, General
Managers. Below the general managers are the line managers who control the
day to day operations of the Canaan Credit Limited.
Each branch is headed by an
Administration Assistant who controls activities at the front office with
direct marketing agents and other support staff. The numbers of the credit
officers and support staff is determined by the size of the branch.
MEMBERSHIP
Members shall consist of-:
a) Original
members who signed the application for registration.
b) New
members subsequently admitted in accordance with the By Laws of the society.
QUALIFICATIONS FOR MEMBERSHIP
A person shall be eligible for membership who possesses
all the following qualifications: -
a) Is
of good character and sound mind.
b) Is
not less than 18 years of age.
c) Is
an ordinary resident of Kenya.
d) Is
a member of this society investment chain.
e) Has
not applied to be adjudicated as insolvent or is not declared bankrupt by a
competent court of law.
f) Has
not been convicted for any criminal offence involving dishonest or fraud and
jailed for a period of three months or more during the last five years.
g) Accept
to abide by and observe the provisions of the society By Laws and other
regulations and resolutions made by the members regarding the operations of the
society.
MEMBERSHIP APPLICATION FORM
Every applicant for membership shall complete an
"Application form for Membership" as may be prescribed by the
management.
ADMISSION INTO
MEMBERSHIP
a) An
applicant shall be admitted to the membership, but shall not qualify for the
right and privileges of a member until he has paid a non-refundable membership
fees according the category he or she has chosen and has contributed the
minimum shares required for the category chosen by the member. (these fees are
subject to adjustments by the management committee in sitting) in order to be
in tune with the prevailing economic situations).
b) A
number shall be assigned to each member as a means of identify his account with
the society.
ALL DEPOSIT ARE MADE AT EQUITY BANK LTD, KNUT HSE BRANCH, CANAAN CREDIT LIMITED ACCOUNT NO. 0350299647534, present your slip to the office for a receipt and sign a investment contract for your inevstment.
For mobile banking paybill 247247 , account no. 0350299647534
ensure you present your payment details to the office for receipt.
CANAAN
MEMBERSHIP: CATEGORY AND BENEFITS
A. Bronze Level: Non refundable Registration fee of Ksh 250/=,
Monthly Share Contribution Kshs 1500/=. Member must contribute minimum 5, 000
shares valued at Ksh. 10= per share. Minimum shares are transferrable but
cannot be withdrawn. Member’s shares will attract dividend earnings that are
declared annually at the Annual General Meeting and paid out semi-annually.
Benefits: business training.
B. Silver Level: Non refundable Registration fee of Kshs 500/=,
Monthly Share Contribution Kshs 3000/=. Member
must contribute Minimum shares 10,000 valued at Ksh. 10= per share. Minimum
shares are transferrable but cannot be withdrawn. Member’s share will attract dividend
earnings that are declared annually at the Annual General Meeting and paid out
semi-annually. Benefits: 48 hrs emergency loan approval, business training.
C. Gold Level: Non
refundable registration fee of Kshs 1000/=, Monthly Share Contribution Kshs
5000/=. Member must contribute Minimum shares 20,000 valued at Ksh. 10= per
share. Minimum shares are transferrable but cannot be withdrawn. Member’s share
will attract dividend earnings that are declared annually at the Annual General
Meeting and paid out semi-annually. Benefits: 48 hrs emergency loan approval,
business training, life insurance cover
D. Platinum Level:
Registration Kshs 3000/=, Monthly Share Contribution Kshs 10,000/=. Member must
contribute Minimum shares 30,000 valued at Ksh. 10= per share. Minimum shares
are transferrable but cannot be withdrawn. Member’s share will attract dividend
earnings that are declared annually at the Annual General Meeting and paid out
semi-annually. Benefits: 48 hrs emergency loan approval, business training,
business tours, and life insurance cover.
E. Ruby Level:
Registration Kshs 5000/=, Monthly Share Contribution Kshs 15,000/=. Member must
contribute Minimum shares 40,000 valued at Ksh. 10= per share. Minimum shares
are transferrable but cannot be withdrawn. Member’s share will attract dividend
earnings that are declared annually at the Annual General Meeting and paid out
semi-annually. Enjoys 48 hrs emergency loan approval, business training,
business tours, and life insurance cover.
F.
Sapphire
Level: Registration Kshs 5000/=, Monthly Share Contribution
Kshs 20,000/=. Member must contribute Minimum shares 50,000 valued at Ksh. 10=
per share. Minimum shares are transferrable but cannot be withdrawn. Member’s share
will attract dividend earnings that are declared annually at the Annual General
Meeting and paid out semi-annually. Enjoys 48 hrs emergency loan approval,
business training, business tours, and life insurance cover.
G. Emerald Level: Registration Kshs 10,000/=, Monthly Share Contribution
Kshs 25,000/=. Member must contribute Minimum shares 60,000 valued at Ksh. 10=
per share. Minimum shares are transferrable but cannot be withdrawn. Member’s
share will attract dividend earnings that are declared annually at the Annual
General Meeting and paid out semi-annually. Benefits: 48 hrs emergency loan
approval, business training, business tours, and life insurance cover.
H. Diamond Level:
Registration Kshs 20,000/=, Monthly Share Contribution Kshs 35,000/=. Member
must contribute Minimum shares 70,000 valued at Ksh. 10= per share. Minimum
shares are transferrable but cannot be withdrawn. Member’s share will attract
dividend earnings that are declared annually at the Annual General Meeting and
paid out semi-annually.
Benefits:
48 hrs emergency loan approval, business training, business tours, life
insurance cover and a Monthly couple’s diner.
I.
Black
Diamond Level: Registration Kshs 25,000/=, Monthly Share
Contribution Kshs 50,000/=. Member must contribute Minimum shares 80,000 valued
at Ksh. 10= per share. Minimum shares are transferrable but cannot be
withdrawn. Member’s share will attract dividend earnings that are declared
annually at the Annual General Meeting and paid out semi-annually.
Benefits:
48 hrs emergency loan approval, business training, business tours, Life
Insurance, Monthly couple diner and Holiday for two annually.
SAVINGS AND LOANS
Services:
Encourages Savings and Credit within communities.
INVESTMENT OPPORTUNITIES WITHIN CANAAN CREDIT LIMITED
We encourage investors to invest in Canaan Real Estate program: Investment are for minimum six months ,one year and above. Minimum investment is Kshs 25,000 up to no limit as fixed deposit for minimum six month and above at 5% interest per month.
HOUSING PROGRAM:
Canaan Housing saving scheme:
1. Deposit 20% of the house value you need with Canaan Credit Limited, Canaan will finance your housing project. Terms and condition apply.
2. Deposit 10% to acquire Canaan Apartments, after construction Canaan will give maximum 15 years to repay the loan.
CANAAN DAIRY SCHEME:
FORM GROUPS OF 5 TO 20 MEMBERS
Each member to contribute Kshs 150,000/= plus land for the program initiation.
CANAAN JOSEPH SAVINGS SCHEME:
a. Entirely for business community who are able to save daily or weekly.
b. Open your daily or weekly savings account. save for 2 months and qualify for 2 times your loans.
c. Savings continue even when you have a loan repayment.
d. loans are only given for 3 months max duration repayment.
e. Loans are for busting your business stock.
