This article focuses on Asili Sacco membership eligibility and requirements. Asili Sacco Society was established in 1972 and registered under the Co-operative Society Act Cap 490 with registration number CS 2077.
The Sacco operates both BOSA and FOSA services and it is licensed and regulated by the Sacco Society Regulatory Authority (SASRA).
Currently, the membership of the Sacco is over 11,000 members with an asset base of 3.13 billion.
Asili Sacco Membership Eligibility
Initially, the society members were from the Ministry of Natural Resources but now, it has opened a common bond to accommodate all.
Asili Sacco Membership Requirements
(a). Individual Members
(i). Salaried Members
- Share capital of Kshs 20,000.
- Minimum monthly contribution of Kshs 3,000.
- Entrance fee of Kshs 1,000 (non refundable).
- Copy of National ID/Passport.
- One recent passport size photograph.
- KRA PIN.
(ii). Business Members
- Share capital of Kshs 20,000.
- Minimum monthly contribution of Kshs 3,000.
- Complete membership application form.
- Copy of National ID/Passport.
- One recent passport size photograph.
- KRA PIN.
- Entrance fee of Kshs 1,000.
(b). Group Membership
- Copy of minutes with resolution to open an account.
- Copy of registration certificate.
- Group constitution.
- Copies of relevant KRA certificate.
- Copies of signatories identity cards.
- Passport size photos of the signatories.
- List of group members details.
- Four signatories to the account who are 3 group officials and one group member.
- List of signatories authorised to sign on behalf of the account.
- Minimum account opening balance is Kshs 5,000.
Asili Sacco Products
(a). BOSA Products
(i). Long term loans
- Okoa loan.
- Ordinary normal loan.
- Special normal loan.
- Super normal loan.
- Super normal loan 2.
- Maendeleo loan.
- Instant normal loan.
- Jipange asset finance loan.
(ii). Short term loans
- Emergency loan.
- School fees loan.
- Refinancing loan.
- Refinancing loan 2.
- Jipange loan.
(b). FOSA Products
- FOSA pride.
- Pride reloaded.
- Salary advance.
- Salary in advance.
- Biashara loan.
- FOSA chama loan.
- FOSA school fees loan.
- FOSA angalau.
- Uchumi loan.
Asili Sacco Contacts
Headquarters: Asili Co-op Centre, Ngara Road, Nairobi.
Contacts: 0722 472 823/ 0733 472 823.
