Ammar Sacco Membership Eligibility & Requirements

Ammar Sacco, originally known as All Churches Sacco, was established in December 2004 to address the financial needs of its members. It rebranded to Ammar Sacco in 2019 and operates under the regulation of SASRA.

Membership Eligibility

The Sacco’s membership is open to all and includes:

• Business people.
• Farmers.
• Civil servants.
• Teachers.
• Youth.
• Women.
• Persons with disabilities.

Membership Requirements

1. Fill out the account opening form (available on the Sacco’s website or at the office).
2. Attach certified copies of:
   • National ID.
   • KRA PIN certificate.
3. Pay a registration fee of Kshs 500.
4. Purchase a minimum share capital of 200 shares at Kshs 20 each (Kshs 4,000 total).

Products and Services

(a) Loan Products

1. Business Loans
   • Repayment period: up to 36 months.
   • Interest rate: 18% on reducing balance.
   • Must be guaranteed by two active account holders.
   • Subject to the 2/3 rule.
2. Mkulima Loan
   • Tailored for farmers (e.g., coffee, tea, and milk farmers) whose payments are channelled through the Sacco.
3. Mfugo Loan
   • Supports dairy farmers in acquiring quality breeds.
   • Repayment period: up to 24 months.
4. Asset Finance
   • Repayable within 36 months.
5. Salary Loan
   • Accessible to members whose salaries are channelled through the Sacco.
6. Group Loan
   • Designed for registered groups to consolidate savings and access loans.

(b) Savings Products

1. Ordinary Savings Account
   • Features:
     • Unlimited daily access.
     • Withdrawal fee: Kshs 50.
     • Minimum balance: Kshs 300.
     • No ledger fees.
     • ATM and mobile banking withdrawals.
2. Toto/Kids Account
   • Features:
     • Free standing orders.
     • No ledger fees.
     • Minimum balance: Kshs 200.

(c) Investment Products

1. Sacco BOSA Shares
   • Open to all Sacco members and account holders.
   • Share price: Kshs 20.
   • Minimum required: 200 shares (Kshs 4,000) within 6 months.
2. Sacco FOSA Shares
   • Open to all Sacco members and account holders.
   • Guaranteed interest rates.
   • Contributions via check-off.
3. Fixed Deposit
   • Attractive interest rates.
   • Specific deposit periods (3–12 months).
   • Cash deposits or direct transfers from savings accounts.

Contacts

• Location: Elica Plaza, Kwame Nkrumah Street, Opposite Safaricom Shop, Thika.
• Phone: 0711 431 590 / 0704 979 246.