Suluhu Sacco, originally registered in 1995 as Mwingi Mwalimu Sacco Society, is a prominent deposit-taking Sacco regulated by SASRA under the Sacco Societies Act of 2008. With an asset base of Kshs 1.04 billion, it is one of Kenya’s largest deposit-taking Saccos. Suluhu Sacco focuses on enhancing resource mobilization and offering quality financial products and services to maximize members’ returns.
Membership Eligibility
Suluhu Sacco accepts membership from individuals and groups, including:
- Primary and secondary school teachers.
- TSC staff.
- KNUT employees.
- BBF staff.
- Government and county staff.
- Civil servants.
- NGO employees.
- Private-sector employees.
- Business people.
Membership Requirements
To become a Suluhu Sacco member, you need:
- Membership Application Form: Fill out the form, available at Suluhu Sacco offices.
- National ID: Attach a copy of your ID card.
- Nomination Form: Fill out a form specifying your next of kin.
- Savings Accumulation: Once registered, start saving through:
- Check-off system.
- Over-the-counter cash deposits.
- Bank standing orders.
- Mpesa paybill number: 737816.
Suluhu Sacco Products
1. Loan Products
(a) FOSA Loan Products
- Instant FOSA Loan: Quick disbursement loans for emergencies.
- Special Loan: Tailored loans for specific needs.
- Salary Advance Loan: Short-term credit for salaried members.
- Kilimo Loan: Financing for agricultural needs.
- Emergency Salary Advance: Immediate funds for emergencies.
(b) BOSA Loan Products
- Normal Loan: General-purpose loans.
- Preferential Loan: Loans with favorable terms for special members.
- Fanaka Loan: For business or personal development.
- School Fees Loan: Covers educational expenses.
- Suluhu Imarika Loan: Development loan for growth.
- Business Plan Loan: Tailored for entrepreneurs.
- Emergency Loan: Quick financing for urgent needs.
(c) Seasonal Loan Products
- Top Tanks: Financing for water storage solutions.
- Motorbikes: Loans for purchasing motorcycles.
2. Savings Products
(a) FOSA Savings Products
- FOSA Savings Account: Flexible savings account.
- Junior Account: Designed for children.
- Joint/Group/Corporate Account: For groups, chamas, or businesses.
- Fixed Deposit Account: Offers high returns for fixed-term savings.
- Christmas Account: For end-of-year expenses.
(b) BOSA Savings Products
- Share Capital: Mandatory membership investment.
- Normal Shares: General-purpose share savings.
- Jipange Retirement Scheme: Designed for retirement planning.
- Sinking Fund: For long-term savings.
Other FOSA Products
- Mpesa Integration: For seamless transactions.
- Saccolink ATM Card: Provides 24/7 account access.
- Salary Processing: Efficient salary disbursement for employers.
- Cheque Processing: Hassle-free cheque clearing.
- M-Banking: Mobile banking services for convenience.
Contact Information
- Head Office: Suluhu Sacco Plaza, Mwingi Town, Opposite IEBC Office, Kyuso Road.
- Phone:
- 0712 878 475
- 0794 056 489
- 0797 621 555
Conclusion
Suluhu Sacco is a trusted financial partner for individuals and organizations looking for secure savings and accessible credit solutions. With a wide array of products tailored to meet diverse needs and efficient services through FOSA and BOSA, Suluhu Sacco is a reliable choice for financial empowerment and growth. Joining Suluhu Sacco ensures access to competitive loans, convenient savings options, and a supportive financial ecosystem.
