Explore the membership eligibility, requirements, and benefits of joining Egerton University Sacco, a leading savings and credit cooperative in Kenya, providing financial services since 1975.
Introduction to Egerton University Sacco
Egerton University Sacco, established in 1975, has become a beacon of financial stability and growth. With a membership exceeding 6,000 individuals and financial assets surpassing Kshs 1.63 billion, the Sacco has solidified its position in the financial sector. It offers a broad range of services regulated by the Sacco Societies Regulatory Authority (SASRA), ensuring secure and reliable financial solutions for its members.
Membership Eligibility at Egerton University Sacco
Egerton University Sacco extends its membership to a diverse group, including:
- Civil servants
- Employees of companies
- Businesspeople
The Sacco’s primary membership base comes from various educational institutions and other sectors:
- Egerton University
- Kisii University
- Laikipia University
- Kabarak University
- Masinde Muliro University
- Chuka University
- Kabianga University
- Various other universities
- Nakuru County and numerous schools
Requirements for Membership
To join Egerton University Sacco, applicants must fulfill the following criteria:
- Pay an entrance fee of Kshs 500
- Provide a passport-sized photo and a copy of their National ID or equivalent identification
- Commit to purchasing a minimum of Kshs 20,000 in shares within six months
- For employed applicants, attach a current payslip and employment letter
Modes of Payment
Members can remit their contributions through several convenient channels:
- Direct deposits to the Sacco’s bank accounts
- Bank standing orders
- Check-off with the employer
- Direct debit
- Cash deposits at the counter
- Spotcash mobile banking (*645#)
- Sacco paybill number (798 073)
Benefits of Joining Egerton University Sacco
Members of Egerton University Sacco enjoy numerous advantages:
- Access to affordable and flexible credit facilities with minimum interest rates of 1% and repayment periods up to 84 months
- High returns on investments through annual dividends on share capital and interest on deposits
- A wide array of products and services, including mobile banking, salary advances, fixed deposits, school fees loans, emergency loans, dividend advances, share booster, agribusiness, salary processing, and FOSA savings accounts
- Quarterly financial advice and investment forums led by experienced consultants
Egerton University Sacco Branches & Contact Information
For personalized service and inquiries, members and prospective members can visit or contact the following branches:
- Head Office
- Location: Egerton University Main Campus, Njoro
- Contacts: 011 000 9393 / 0733 999 002 / 0770 999 002
- Nakuru Branch
- Location: Golden Life Mall, Along Nakuru-Eldoret Highway
- Laikipia Branch
- Location: Within Laikipia University, Main Campus
- Kisii Branch
- Location: Kisii University, Main Campus
Conclusion
Egerton University Sacco stands as a cornerstone of financial empowerment, offering comprehensive services tailored to meet the needs of its members. With its robust financial portfolio, wide range of services, and commitment to member success, Egerton University Sacco remains a top choice for financial collaboration and growth in Kenya.