This article focuses on Biashara Sacco membership eligibility and requirements. Biashara Sacco Society was formed by members of the business community in Nyeri, who were also members of the Kenya National Chamber of Commerce and Industry.
It was registered as a Savings and Credit Co-operative Society under the Co-operative Societies Act Cap 490 on 31st December 1990 and started operations in 1991.
After receiving savings and deposits from members and also advancing credit to them, the sacco was licensed to operate FOSA in 2006.
The first FOSA branch was opened in Nyeri to offer banking services. The sacco has 11 other branches and 4 satellite offices located in different parts of the country.
Biashara Sacco Membership Eligibility
The Sacco membership is open to all throughout the country.
Biashara Sacco Membership Requirements
- Complete the prescribed application for the membership form.
- Registration fee of Kshs 2,000.
- Original ID and photocopy.
- Normal shares 50@100.
- Development fee of Kshs 200,000.
- Maintenance fee of Kshs 200.
- Welfare of Kshs 50.
- Monthly deposits of Kshs 2,500.
Benefits of Membership
- High rate of dividends.
- High interest on deposits.
- A variety of loans.
- Loans 5 times shares.
- Right to vote.
- Sacco ownership.
- Shares are transferable.
Biashara Sacco Products & Services
(i). Loan Products
- Normal loan.
- Development loan.
- Emergency loan.
- Malipo loan.
- Seasonal loan.
- Overdraft loan.
- Shamba loan.
- Women empowerment loan.
- Sisi kwa sisi loan.
- Beba loan.
- Soko loan.
- Nyongesa loan.
- Corporate loan.
- Mortgage loan.
- Wakulima loan.
- Medical loan.
- Safari loan.
- Smart member investment loan.
(ii). Savings Products
- Savings account.
- Beba account.
- Smart account.
- Safari club.
- Business account.
- Women empowerment account.
- Masomo account.
- Malipo account.
- Soko account.
- Group account.
- Young men empowerment account.
- Fixed deposit account.
- Bob junior account.
- Corporate account.
Services
(i). ATM Services
- Cash withdrawal.
- Cash deposit.
- Balance enquiry.
- Mini statement.
- Utility payments.
- School fees payment.
- Purchase (merchant points only eg. supermarkets and petrol stations).
Other Services
- Mobile banking.
- Agency services.
- Student mentorship programmes.
- Cheque books.
- Banker’s cheques.
- Door to door services.
Biashara Sacco Contacts
Head Office: Kimathi Way, Nyeri.
Contacts: 0722 557 188/ 061 203 4206.
