Boresha Sacco Membership Eligibility & Requirements

Boresha Sacco is a licensed deposit-taking financial institution regulated by the Sacco Societies Regulatory Authority (SASRA). Established on 31st August 1976, it has grown significantly with a membership of 75,389, savings of Kshs 6.89 billion, loans totaling Kshs 8.38 billion, and an asset base of Kshs 9.90 billion as of 31st December 2022.

Membership Eligibility

1. Salaried Members

• Teachers under the Teachers Service Commission (TSC).
• Civil servants employed by the Public Service Commission (PSC).
• County government staff.
• Institutions’ pensionable employees.
• KNUT and NGO staff.
• Sacco and its subsidiaries staff.
• Retired members.
• Companies and parastatal pensionable staff.

2. Non-Salaried Members

• Spouses, children, and relatives of members.
• Individual businesspersons.
• Small and Micro Enterprises (SMEs).
• General community members.
• Micro-credit members.
• Farmers (individuals and groups).
• Jua Kali businesspersons.
• Youth, women groups, and chamas.

3. Corporates

• Registered business entities.
• Institutions, schools, and colleges.
• Community-Based Organisations (CBOs).
• Cattle dips.
• Registered enterprise businesses.
• Investment groups.
• Registered companies.

Membership Requirements

To join Boresha Sacco, prospective members must:

1. Fill out a membership application form.
2. Provide recent passport photos.
3. Submit a copy of their ID.
4. Pay a membership fee of Kshs 500.

Boresha Sacco Products

(a) BOSA Products

1. New Members Introductory Loans
   • Targeted at newly recruited salaried members.
   • Granted once the first shares/savings instalment is deducted by the employer.
   • Loan approval is based on the payslip.
   • Mandatory monthly shares/savings contribution of 1% of the loan granted, with a minimum of Kshs 2,000.
2. Development Loan
   • For members’ personal development.
   • Loan multiplier: Savings x3.
   • Repayment period: 72 months.
3. School/College Fee Loan
   • Designed for school or college fee payments.
   • Loan multiplier: Savings x3.
   • Repayment period: 12 months.
   • Disbursed weekly.
4. Emergency Loan
   • Caters to emergencies.
   • Loan multiplier: Savings x3.
   • Repayment period: 12 months.
   • Disbursed daily with separate repayment rates reflected on the payslip.

(b) FOSA Products

1. Premium Advance
   • Salary must be channelled through FOSA for 2 months.
   • Advance up to 4 times the monthly net salary.
   • Maximum repayment period: 3-12 months.
   • Maximum loan amount: Kshs 120,000.
   • Processing is prompt over the counter.
   • Guaranteed by active account holders with salaries processed through FOSA.

Boresha Sacco Contacts

• Head Office: Mwalimu Plaza, Eldama Ravine.
• Contact: 0720 200 689.