PROFESSIONAL BODIES

Accounts

Current account with no charges. Available in Ksh, GBP and EUR
Benefits include:

Free monthly statements
Safe custody services
A dedicated relationship manager
Round the clock access to your account through co-op online
Preferential rates for foreign currency conversions

Wealth Management

Fixed deposits – Fix your lumpsum cash for a period of either 1 month,3 months,6 months or 12 months at competitive interest rates
Call deposits – Fix your lumpsum cash for an indefinite period at attractive rates. You can withdraw the funds anytime subject to a minimum period of 5 days
Foreign exchange solutions- Buy or sell foreign currency at competitive rates in cash or your Bank account

Customized Staff Solutions

Automated salary processing system
Staff car loans and mobile loans
Salary advances and employee check-off loans
Asset acquisition solutions: Asset financing, leasing solutions for office equipment e.g laptops, printers, office furniture, office fittings etc

Insurance Solutions for your law firm covering yourself, your premises, assets and your staff including

Professional indemnity covers- We offer comprehensive insurance covers at attractive rate that protect your firm from legal liability that may arise during your practice
Motor vehicle insurance covers
Fire and burglary cover
Medical insurance covers
Life insurance covers
Insurance premium financing

Custodial Services- for your law firm and clients. Services include

Pension services
Gratuity services
Custodial account to hold investments
Advisory services from Co-op trust investments

Trade Finance

With our wealth of knowledge in trade finance, an experienced team and an unparalleled drive to see you succeed in whichever stage your business is at, we offer you the best solutions to ensure your business keeps winning! We provide an array of services that enable importers and exporters to conduct international transactions that facilitate the movement of goods and services from one point to another, both locally and internationally.

Stock Finance

Stock financing is a trade solution that enables a trader to acquire stock for the business.– The Stock Financing product is meant to assist the traders to;

Pay for the various products they trade with and ease pressure on their working capital
Pay for the stocks on time to ensure consistency and avoid stock outs
Minimize diversion since payment is against invoices and made directly to the suppliers
Align financing with the trading cycle of the business hence ease of repayment

– The product features are:-

Feature	Terms
Purpose	Financing traders involved in buy/sell of stock
Limit Calculation	70% of average 6 months current account turnovers.
Financing	100% of the proforma invoice, invoice/quotation raised by suppliers/Third parties
Tenor	Limit marking – 12 months Fast Moving Consumer Goods (FMCG) – 7/14 days Long term trade – 30-60 days
Pricing	FMCG- 0.5% per week to 1% for 2 weeks Longer trade – 2.5% per annum appraisal one-off, (CBR+4)% per month for every drawdown.
Security	Security Options-tangible, partially secured & unsecured terms. The unsecured limits will be applied as per existing policy for GOLD, SILVER and BRONZE customers as follows. Gold Acc – up to Kes. 10 million Silver Acc – Up to Kes. 6 million Bronze Acc – Up to Kes. 600,000.00

– The requirements are to bank with Cooperative Bank for a period of 6 months.

LPO Financing

This is financing offered to suppliers with LPOs from reputable companies, to enable them to execute their customers’ orders when they do not have the required funds.

Maximum loan – 60% of the value of the LPO less all of the bank’s charges
Minimum loan – Ksh 50,000
Tenor- Up to 6 months

Structure Trade & Commodity Finance

If you need a hand in bulk purchasing of goods, we can finance your business so that you execute bigger deals, and take advantage of economies of scale to make higher profit margins.

Bank Guarantees

This is a written, irreversible guarantee from us, assuring your supplier, customer or beneficiary, of payment in the case that you do not fulfill your contractual obligation. This covers bid/tender bonds, performance bonds, advance payment bonds and credit guarantees. These reassure the beneficiary of payment and reduce the level of risk involved in the business transaction.

Invoice Discounting

Cash flow is vital for the survival and smooth running of any business, especially SMEs. With Co-op Bank’s Invoice Discounting, you can withdraw money against sales invoices before payments are done, thus enabling you to improve your business’ working capital and cash flow.

Maximum loan – 80% of the value of invoice less all of the bank’s charges
Minimum loan – Ksh 50,000
Maximum tenor – 2 months subject to the invoice period
Availability – Facility will revolve for 12 months upon which supplier will be reviewed for renewal

Letters of Credit.

Business always has an element of risk; especially when it comes to trade. With a Letter of Credit from Co-op Bank, you can assure a beneficiary of payment once the terms of a contract are fulfilled, thereby eliminating risk and setting the beneficiary’s mind at ease.

Pre-shipment Financing

These include pre-export finance and import finance loans which are available to both importers and exporters on a short to long term basis.

Import Financing

This facilitates importation of raw materials under letters of credit and guarantees. It enables the customer to increase his business value, efficiency and productivity.

Post Import Finance

This is best suited for importers who are experiencing a mismatch between payment for imports and the receivables. After goods have been shipped to the importer, the bank pays the shipper on behalf of the customer and books a short term facility to be paid off with the receivables once the goods have been sold.

Bills Discounting

With Bill Discounting, we provide exporters with an advance to ensure they remain liquid as they continue with their business.

Bills Avalization

This is where the bank confirms that the customer will honor a certain future payment by signing on a bill of exchange on behalf of its customer.

Please download the tariff guide by clicking this link

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