Frequently Asked Questions


Complete a membership application form Pay non-refundable entrance fee of Ksh. 500 Submit a copy of national identity card

Submit two pass port size photos preferably colored Minimum share capital per member Ksh.10,000.

  • Note: Members at an AGM may increase or reduce as may be proposed from time to time.

Mandatory/Compulsory minimum monthly savings for all members at Ksh. 1,000 per month, there is no maximum limit and there is room for daily saving either individually or as a group.

Members are at liberty to adjust this in an AGM.

shares capital/mandatory in institution capital of the Sacco every member must have.

It is non-refundable and is only transferable to member when you cease being a member.

Shares capital earns you dividends while deposits earn interest annually.

No member will be allowed to withdraw part of his/her shares or offset part of the shares against an outstanding loan unless he/she ceases to be a member of the society and in the event this must be done due reasons he or she may give the penalty shall apply.

Where a member wishes to withdraw from the society he/she should give a written notice up to 60 days

A member who wishes to offset his shares against the loan other

than leaving the society shall pay a penalty of 10% of the un cleared loan. This may change as members may decide in an AGM.

Share capital is transferable NOT REFUNDABLE.


For a member of the society to qualify for a loan she/he must:-

Have completed at least (6) months and contributed regularly/ consistently

Bulk share deposits shall remain in the society for at least six months to participate in any loan granting.

A member applying for a loan shall: a). complete loan application form, b). be required to get guarantors, c). decla- ration signature must be witnessed by the SACCO Legal Officer.

Each loan applicant shall indicate the purpose for which the loan is required.

Loans shall be given only for worthy purposes that will benefit the borrower.

All loans shall be restricted to members only and shall be ap- proved by the credit committee subject to final approval by the central management committee

The maximum amount of all loans granted to a member shall not exceed 3 times a member’s shares but subject to the maximum of 50% of the society’s total share capital and reserves.

Loan applications shall be considered in the order in which they are submitted, provide that whenever there are more applicants for loans than there are funds, preference will be given, in all cases to smaller loans. However, when amounts applied for are approximately the same.

Priority shall be given in the following order:- Confirmed emergency cases

Old members who have no loans

New member who have qualified for loans

Members who have cleared their first loans and have applied for fresh loans.

Upon approval of the loan a borrower will pay towards the self insurance scheme ,CRB fee and a loan processing fee of Ksh. 600.

Fully completed loan application forms with guarantors ID attached.

Guarantors deposits must be equal or more than the loan applied.

 Attached current payslip for salaried.  Attached bank statement for cash members.

    Its against the labour law to deduct more that 2/3 of one salary.

    You must net 1/3 of your basic salary.

Unless the loan applied for is equal to or less than a member’s shares and deposits it must be secured by the guarantor(s). The

total shares and deposits of the borrower and those of the guarantor(s) must be equal to or more than the loan applied for,

The obligations of the previous guarantors shall cease upon change of guarantors but subject to new guarantors being accepted by the society. The obligation of the guarantors shall also cease when loans guaranteed haven been reduced to or less than the member’s shares.

Legal proceedings shall be instituted upon any member who on several occasions has been informed of the action as a last resort to recover the loan at his/her cost to the lawyer.

Loan repayment shall commence not later than the month following that in which the loan was granted to a member