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Tabasamu Sacco Membership Eligibility & Requirements

Tabasamu Sacco, established on 18th February 1977, operates as a deposit-taking Sacco under the Sacco Societies Regulatory Authority (SASRA). With an asset base of Kshs 1.05 billion, the Sacco continues to provide reliable financial solutions to its members while adhering to the Co-operative Societies Act.


Membership Eligibility

Tabasamu Sacco welcomes membership from the following groups:

  • Teachers (both primary and secondary).
  • County employees.
  • Employees from the private sector.
  • Employees of national government ministries and parastatals.
  • Organized groups, including youth and women groups.
  • Immediate family members of existing Sacco members.

Membership Requirements

To join Tabasamu Sacco, you need to meet the following criteria:

  1. Entrance Fee: Pay a one-time non-refundable fee of Kshs 500, as stated in the Sacco bylaws.
  2. Monthly Contributions: Commit to a minimum monthly deposit of Kshs 1,000.
  3. Share Purchase: Buy shares as per the following structure:
    • Class A: 500 shares.
    • Class B: 300 shares.
    • Class C: 50 shares.
    • Each share is valued at Kshs 20.
  4. Membership Application: Fill out the prescribed membership application form and submit it to the Sacco office for review.
  5. Employer Endorsement: Employers are required to:
    • Introduce employees who wish to join the Sacco.
    • Commit to deducting and remitting dues through the check-off system.

Tabasamu Sacco Products

1. Account Products

  • Current/Salary Account: For personal salary management.
  • Biashara Savings Account: Tailored for business savings.
  • Premium Savings Account: Offers enhanced saving options.
  • Fixed Deposit Account: Higher returns for fixed-term deposits.
  • Minor Savings Account: Designed for children.
  • Ramadhan Savings Account: For specific seasonal savings.
  • Christmas Savings Account: Helps members save for end-of-year expenses.
  • Group Savings Account: Ideal for chamas and organized groups.

2. Loan Products

  • Development Loan: For long-term development projects.
  • Ekeza Loan: For financial growth and investments.
  • Emergency Loan: Quick funds for unforeseen circumstances.
  • Personal Loan: General-purpose credit.
  • Special Loan: Tailored for unique financial needs.
  • Jipange Loan: Flexible repayment terms for personal development.
  • Welfare Fund: Provides financial assistance for member welfare.
  • Instant Loan: Quick processing for urgent needs.
  • Jiinue Loan: To empower members financially.
  • Karibu Loan: For welcoming new members with financial needs.
  • Salary Advance: Short-term loan against salary.
  • Jienjoy Product: For leisure or lifestyle expenses.
  • Sasa Loan: Immediate loan option.
  • Biashara Loan: Focused on business financing.

3. ATM Services

Members can access the following services:

  • Cash withdrawal.
  • Balance inquiries.
  • Payment of fuel, utility bills, and hospital bills.
  • Mini-statements.
  • Shopping at outlets.
  • Hotel and restaurant expenses.
  • Payment for newspaper and magazine subscriptions.

4. Other Services

  • Banker’s Cheque.
  • Cheque Encashment.
  • Dividend Payment Processing.
  • Standing Orders.
  • EFT and RTGS.
  • Dividend in Advance/Dividend Loan.

Contact Information

  • Head Office: Tunawiri House, Kwale.
  • Phone: 0702 599 292 / 0792 773 444.

Conclusion

Tabasamu Sacco is a dependable financial partner for individuals and groups seeking affordable savings and credit solutions. With a broad range of financial products and services, competitive interest rates, and flexible membership options, the Sacco is an excellent choice for those looking to achieve their financial goals while enjoying efficient customer service. Joining Tabasamu Sacco is a step toward financial empowerment and stability.

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