Ufanisi DT Sacco Membership Eligibility & Requirements

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:

1. Employment/Occupation: Must belong to a profession or occupation within the scope of the cooperative society.
2. Minimum Age: Must be at least 18 years old.
3. Good Character: Must be of good character and sound mind.
4. Exclusive Membership: Must not be a member of another Sacco with similar objectives in Kenya.
5. 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.
6. Board Approval: Membership is subject to approval by the Sacco board.
7. 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

1. 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.
2. Issuance of Membership Number:
   • Once approved, the applicant receives a membership number for their personal file.
3. Payment of Fees:
   • Pay the entrance fee (Kshs 1,000).
   • Deposit the minimum share capital (Kshs 250) and Kshs 10,000 in deposits.
4. Membership Privileges:
   • Full rights and privileges of membership are granted after meeting the above payment requirements.
5. Rejoining the Sacco:
   • Former members may rejoin by fulfilling the standard requirements.
6. Appeals:
   • If membership is declined, the applicant may appeal the decision to the Annual General Meeting (AGM), supported by at least 10 members.
7. Membership Identification:
   • Members may receive an ID card upon admission.
8. Statements:
   • Members receive periodic statements of their transactions at least every 6 months.
9. 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