Waumini Sacco is a Savings and Credit Co-operative Society established in 1980 under the Co-operative Societies Act of Kenya. It mobilizes savings and deposits, extending credit to members to enhance their economic and social empowerment. With over 40,000 members from Catholic institutions and faithfuls, Waumini Sacco is a leader among deposit-taking Saccos in Kenya, boasting an asset base exceeding Kshs 6.34 billion.
Membership Eligibility
Waumini Sacco membership is open to the following categories:
- Employees of Catholic-based organizations.
- Catholic faithfuls in Kenya.
- Spouses and children of Catholic faithfuls and employees of Catholic-based organizations.
- Corporate institutions and groups/chamas aligned with Catholic values.
Membership Requirements
(i) Individual Membership
- Introduction letter from the institution (employer).
- Form duly signed by the parish priest for Catholic faithfuls.
- Registration fee: Kshs 500 (one-time payment).
- Share capital: Kshs 15,000 (can be paid in installments of Kshs 500 monthly; non-refundable but earns dividends and is transferable upon withdrawal).
- Monthly deposit contribution: Minimum Kshs 500.
- Monthly Insurance Risk Fund: Kshs 100.
(ii) Corporate Membership
- Open to all Catholic-based institutions/organizations.
- Registration fee: Kshs 5,000 (non-refundable).
- Share capital: Kshs 10,000 (non-refundable but transferable to another institution or individual).
- Introduction letter or meeting minutes with a resolution to open an account.
- Recommendation letter from a bishop, congregation head, or their representative (where applicable).
- Duly filled form with authorized signatories’ details.
Membership Benefits
- Quick salary/payroll processing.
- Fast loan processing and disbursement.
- Affordable and competitive interest rates on loans.
- Short savings period of just 3 months.
- Flexible repayment terms of up to 5 years.
Waumini Sacco Contacts
- Head Office: Applewood Adams Building, 2nd Floor, Ngong Road, Nairobi.
- Phone: 0709 052 000 / 0728 606 059 / 0734 666 226.
