Any person with the following qualifications: -
- Individuals introduced by members.
- Self-employed individuals willing to comply with membership policy.
- Employed persons who wish to join the Sacco on individual capacity and are willing to comply with membership policy.
- Employees of Corporate institutions admitted as per the membership policy.
How to become a member.
An applicant shall be admitted into membership upon:
- Paying a non-refundable registration fee of Ksh. 1,500/-
- Making a minimum contribution of at least 50 shares of Ksh. 20 each which equals Ksh. 1000.00
Upon meeting the above requirements, one qualifies for rights and privileges of an ordinary member. Each member is assigned a membership number for purpose of identifying his/her account with the Sacco.
Benefits enjoyed by our members
- Inspiration to a saving culture through monthly contributions
- Enhanced financial discipline
- Cheap interest rates on loans
- Access to various investment opportunities such as housing projects, land etc.
Contributions
The nominal value of each share shall be Ksh.20/= and every member shall hold at least 500 shares in the society, but no member shall hold more than one-fifth of the total shares capital.
Note: For one to qualify for a loan he/she must have contributed for a period of six (6) Months. The loan, a member is entitled to is equivalent to three (3) times a member’s total deposit and subject to set loan limits
Members Obligations
- To observe and comply with all the society’s By-Laws and decisions taken by the organs of the society in accordance with the By-Laws.
- To Buy and pay up for shares or make any other payments as provided for in the By-Laws of the society.
- To pay for the debts of the society at the time of liquidation where the assets are insufficient to meet the liabilities.
- To Support projects of the society approved by the relevant authority.
Payment Details
All payments should be made directly to the bank using the following details:
BANK DETAILS
CO-OPERATIVE BANK
BRANCH – UNIVERSITY WAY
A/C NO: - 01120062568900
PAYBILL – BUSINESS NO- 973110
A/C NO- YOUR NAME
Download Member Registration Form
Download Kico Sacco Normal Loan Application Form
Download Kico Sacco Short Loan Application Form