Ufanisi DT Sacco Society was established on 6th July 1973 as a savings and credit cooperative for employees of the Agricultural Finance Corporation (AFC). Over the years, the Sacco opened its membership to the public and is now licensed under SASRA as a deposit-taking Sacco since 22nd July 2013.
Membership Eligibility
Any person, regardless of gender, is eligible for membership if they meet the following qualifications:
- Employment/Occupation: Must belong to a profession or occupation within the scope of the cooperative society.
- Minimum Age: Must be at least 18 years old.
- Good Character: Must be of good character and sound mind.
- Exclusive Membership: Must not be a member of another Sacco with similar objectives in Kenya.
- Entrance Fee and Share Capital:
- Pay the entrance fee as prescribed in the by-laws (Kshs 1,000).
- Purchase a minimum share capital of Kshs 250.
- Maintain a minimum deposit of Kshs 10,000.
- Board Approval: Membership is subject to approval by the Sacco board.
- Family Membership: Spouses, children (18+ years), and parents living in the same household as a member may also qualify under the same terms.
Membership Admission Process
- Application Submission:
- Complete the membership application form.
- The application will be reviewed and approved or rejected by the Sacco board.
- Decisions will be communicated in writing.
- Issuance of Membership Number:
- Once approved, the applicant receives a membership number for their personal file.
- Payment of Fees:
- Pay the entrance fee (Kshs 1,000).
- Deposit the minimum share capital (Kshs 250) and Kshs 10,000 in deposits.
- Membership Privileges:
- Full rights and privileges of membership are granted after meeting the above payment requirements.
- Rejoining the Sacco:
- Former members may rejoin by fulfilling the standard requirements.
- Appeals:
- If membership is declined, the applicant may appeal the decision to the Annual General Meeting (AGM), supported by at least 10 members.
- Membership Identification:
- Members may receive an ID card upon admission.
- Statements:
- Members receive periodic statements of their transactions at least every 6 months.
- Family Membership:
- Immediate family members (spouses, children, and parents) may join under the same terms.
Key Benefits
- Access to affordable loans and financial products.
- Opportunity to save and earn dividends.
- Periodic account statements to monitor transactions.
Ufanisi Sacco Contacts
- Location: Development House, 3rd Floor, Moi Avenue, Nairobi.
- Phone: 020 224 6383 / 0712 690 660
