Gusii Mwalimu Sacco Membership Eligibility & Requirements

Gusii Mwalimu Sacco, established in 1977 and operational since 1979, is a member-owned and controlled financial institution offering a range of financial products and services at affordable rates. With an asset base of Kshs 12.85 billion, it is among the largest deposit-taking Saccos in Kenya.

Membership Eligibility

Members are drawn from the following sectors:

1. Education Sector:
   • TSC secretariat.
   • TSC teachers in primary, secondary schools, and tertiary institutions.
   • Lecturers and staff in public and private universities.
2. Government Sector:
   • Employees of national and county governments, ministries, and state departments.
   • Civil servants.
3. Private Sector:
   • NGO employees.
   • Gusii Mwalimu Sacco staff.
4. Pensioners:
   • Retired individuals.

Membership Requirements

1. Financial Contributions:
   • Entrance fee: Kshs 1,000.
   • Minimum deposit contribution: Kshs 1,000.
   • Members’ share capital: Kshs 20,000.
   • Burial Benevolent Fund (BBF) contribution for members with the common bond: Kshs 200.
   • Rejoining fee: Kshs 1,000.

Gusii Mwalimu Sacco Products & Services

BOSA Services

1. Welfare Services:
   • Burial Benevolent Fund:
     • Monthly contribution: Kshs 100.
     • Provides decent burial assistance for members and their immediate families.
   • Risk Fund:
     • Insurance scheme with a monthly contribution of Kshs 100.
2. Loan Products:
   • Development loan.
   • Refinancing loan.
   • School fees loan.
   • Emergency loans.

FOSA Services

1. General Services:
   • Salary, pension, and produce payment.
   • Personal loan clearance.
   • Fixed deposit accounts.
   • Sale of banker’s cheques.
   • 24-hour in-house ATMs, mobile banking, and Sacco link cash dispensation.
   • Corporate accounts for institutions.
2. Loan Products:
   • Salary Advances:
     • 1-month salary advance.
     • 4-month salary advance.
   • FOSA Loans:
     • Loan terms available for 12, 24, 30, 36, 48, and 60 months.
   • Special Loans:
     • Asset finance.
     • Institutional advance (4-month advance).
     • E-loan (1-month loan accessible via mobile banking/USSD).

Gusii Mwalimu Sacco Contacts

• Head Office: Gusii Mwalimu Complex, 1st Floor, Kisii Town.
• Contacts:
  • Phone: 0797 906 715 / 058 203 0357