Faridi Sacco was established on 6th March 1977 under the name Busia Teso Teachers Sacco Society. The Sacco rebranded on 13th September 2014 to become Faridi Sacco Society Limited. It aims to promote savings and provide affordable credit to its members. With over 60,000 members and an asset base of Kshs 1.85 billion, it has experienced significant growth.
Membership Eligibility
Faridi Sacco membership is open to:
- Teachers Service Commission (TSC) members.
- Employees from all government ministries.
- School subordinate staff.
- Kenya National Union of Teachers (KNUT) members.
- Sacco staff.
- Employees of other corporate entities.
- Business entrepreneurs.
- General public through micro-credit programs.
Membership Requirements
For Individuals (Natural Persons):
- Completed membership application form (available on the Sacco’s website).
- Copy of National ID or passport.
- Copy of payslip or an introduction letter from the employer.
- KRA PIN certificate.
- Filled nominee card.
For Corporates (Artificial Persons):
- Copy of registration certificate.
- ID or passport copies of directors.
- Articles and memorandum of association.
- KRA PIN for both the company and directors.
For Informal Employment Members:
- Attach a letter from the area chief or assistant chief.
Faridi Sacco Products
BOSA Products
- Savings Products:
- Equity share capital.
- Member savings.
- Special activity shares.
- Credit Products:
- College loan.
- Safina loan.
- Jipange loan.
- Karibu loan.
- Normal loan.
- School fees loan.
- Development loan.
- Shares loan.
- Emergency loan.
FOSA Products
- Savings Products:
- Fixed deposit account.
- Children account.
- Special occasion account.
- Fees account.
- Credit Products:
- Salary advance.
- Express special loan.
- Express loan.
- Instant loan.
- Salary advance special loan.
- Instant special loan.
- Smart loan.
- Smart special loan.
- Supersolution loan.
- Hekima loan.
- Mavuno loan.
Faridi Sacco Contacts
Head Office:
- Location: Faridi Plaza, Busia Town, Off Kisumu-Uganda Road, Behind National Bank of Kenya.
- Contacts: 0702 275 343 / 055 232 2262
Malaba Branch:
- Location: Malaba Town, Off Malaba-Uganda Road, Next to ACK Church & Opposite New Life Hotel.
