Home TEACHERS' NEWS PORTAL How to log into Mwalimu National Sacco portal and calculate your dividends

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

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

  1. Personal details- These includes total deposits, total loan repayments and total shares.
  2. Loans- Loan Application List and Loan Calculator
  3. Customer Relations
  4. 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

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:

  1. Excise duty
  2. Processing fee

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

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