Daima Sacco Membership Eligibility & Requirements

This article focuses on Daima Sacco membership eligibility and requirements. Daima Sacco is one of the largest deposit-taking Saccos in Kenya with an asset base of 1.65 billion.

The Sacco was established and registered under the Co-operative Societies Act on 16th April 1991, with the aim of promoting the economic interests of members by encouraging thrift through the mobilisation of deposits, savings and investment.

Daima Sacco opened its FOSA operations in 2010. This was in order to attract more members from the wider community and rebranded Mungania Tea Growers Sacco as it was known by its present name.

The Sacco’s affairs are governed by the Co-operative Societies Act 2004, Sacco Society Act 2008, Sacco Society Regulations 2010, its by-laws, policies and procedures.

Daima Sacco Membership Eligibility

The Sacco mainly draws its membership from tea growers who are paid through the Sacco by KTDA. Other members are also free to join.

Daima Sacco Membership Requirements

1. Individual Account

Must be of 18 years and above.
Photocopy of ID.
Passport size photo.
Minimum opening balance of Kshs 400.

2. Business Account

Must have a registered business.
A minimum balance of Kshs 400.
Withdrawals can be made more than once in a day.
Statement available on customer’s request.
Can be used to access business loans.
Must have operated the business for at least 6 months.

3. Institutional/ Company Account

ID copies of officials or directors.
Passport size photo of the officials/ directors.
Copy of certificate of incorporation.
A copy of KRA PIN certificate.
Articles of association.
Tax compliance certificate.
Current trade license from the county government.
Minutes extracted from the board of directors, authorising opening of the account.

4. Junior Account