Egerton University Sacco Membership Eligibility & Requirements

Egerton University Sacco, established in 1975, has grown to over 6,000 members with shares and deposits exceeding Kshs 1.63 billion and a loan portfolio of Kshs 1.6 billion. It is regulated by the Sacco Society Regulatory Authority (SASRA) for deposit-taking business in Kenya.

Membership Eligibility

Membership is open to:

1. Civil servants.
2. Employees of companies.
3. Business people.

The Sacco primarily draws members from:

• Egerton University.
• Kisii University.
• Laikipia University.
• Kabarak University.
• Masinde Muliro University.
• Chuka University.
• Kabianga University.
• Nakuru County offices.
• Various schools and other universities.

Membership Requirements

1. Entrance Fee: Kshs 500.
2. Shares: Commit to purchasing a minimum of Kshs 20,000 worth of shares within 6 months.
3. Documents Required:
   • A passport size photo.
   • A copy of the National ID or other authenticated identification.
   • Current payslip and a copy of the employment letter for employed members.
4. Mode of Contribution:
   • Direct deposits to the Sacco’s bank accounts.
   • Bank standing orders.
   • Check-off with employer.
   • Direct debit.
   • Cash deposit over the counter.
   • Spotcash mobile banking (*645#).
   • Sacco paybill number 798 073.

Benefits of Membership

1. Affordable Credit:
   • Interest rates starting at 1%.
   • Flexible repayment periods of up to 84 months.
2. High Returns:
   • Annual dividends on share capital.
   • Annual interest on deposits.
3. Comprehensive Services:
   • Mobile banking.
   • Salary advances.
   • Fixed deposit accounts.
   • School fees loans, emergency loans, dividend advances, share booster, and agribusiness products.
   • Salary processing and FOSA savings accounts.
4. Financial Advice:
   • Quarterly investment forums and financial advice from expert consultants.

Egerton University Sacco Branches & Contacts

1. Head Office
   • Location: Egerton University Main Campus, Njoro.
   • Contacts: 011 000 9393 / 0733 999 002 / 0770 999 002.
2. Nakuru Branch
   • Location: Golden Life Mall, Along Nakuru-Eldoret Highway.
3. Laikipia Branch
   • Location: Within Laikipia University, Main Campus.
4. Kisii Branch
   • Location: Kisii University, Main Campus.