Download the membership application form
here. Attach your passport photo, copy of ID and a copy of your
KRA pin certificate. You will also need to be introduced by a member of the Sacco
An email with your membership number will be sent to you
within 48hrs
Yes, a one-off fee of Ksh.1000
The minimum monthly contribution is Ksh.3,000
The share capital is the permanent member contribution
towards the Sacco capital it cannot be withdrawn even on exit but instead can
be transferred to another willing member. Each member is required to acquire a minimum share capital of Ksh 20,000 (100 shares each at Ksh20)
The share capital is not refundable. It can only be transfered to an existing Sacco member or be sold to another Sacco member when one ceases being a member at the SACCO.
Yes, you may introduce your friends, colleagues and Family
to join the Sacco
To qualify for a loan, One must have saved regularly for at least 3 months and has
raised the minimum share capital of Ksh. 20,000
We take your savings as security and if
borrowing over and above your savings, then you need to have guarantors or a
title deed as security for your loan.
The period varies depending on the loan type. All loans
are processed within 48hrs apart from the Dhamana loan that is processed within
60 days due to the land legal and valuation exercise involved
When applying for a loan, one is required to fill in a loan
application form (which can be downloaded from our website), attach a copy of
their National ID, KRA certificate, and their latest 3 months payslip/ Bank
statement (certified).
There is no limit on the number of guarantors of importance
is that the loan is fully guaranteed
Savings to
loan ration 1:3 & 1:4 depending on the product
No there isn’t, once your loan is disbursed interest starts
accruing immediately hence all loan schedule are set to the last day of the
month
The short -term loans have a repayment period of less than
30 months and the long-term loans have a loan repayment of above 36 months
Yes, one can have more than one short-term loan but only one long-term loan running at a given time.
If one is taking a top-up loan, a 5% fee of the existing loan will be charged.
Your liability as a guarantor reduces as the loanee pays the
loan and this is accessible to you via your member's portal profile
The Sacco shall vigorously endeavor to pursue the defaulter
for payment for at least 3 months. In
the 1st month of default, the defaulter will receive their 1st
demand notice, in the second month of default, both the defaulter and guarantor
will receive a demand notice. If no
repayment is received by the end of the third month of default, then Sacco
shall deduct from guarantors in the proportions in which they guaranteed
If one is exiting the Sacco membership, they need to do the
following:
·
Write a withdraw request letter to the Sacco
·
Give notice of 60 days in case of any refunds
due to the member
·
Inform all members he has guaranteed to seek an alternative
guarantor (Refunds will be done only after all guarantors have been replaced