Egerton University Sacco Membership Eligibility & Requirements

This article focuses on Egerton University Sacco membership eligibility and requirements. Egerton University Sacco was registered in 1975 and has achieved steady growth over the years.

The Sacco’s membership stands at over 6,000 with accumulated shares and deposits in excess of Kshs 1.63 billion. Its loan portfolio stands at 1.6 billion.

The Sacco is regulated by Sacco Society Regulatory Authority (SASRA) to undertake deposit-taking business in the country.

Egerton University Sacco Membership Eligibility

Membership is open to all civil servants, employees of companies and business people.

The Sacco mainly draws its members from institutions such as;

Egerton University.
Kisii University.
Laikipia University.
Kabarak University.
Masinde Muliro University.
Chuka University.
Kabianga University.
Several other universities.
Nakuru County and several schools.

Egerton University Sacco Membership Requirements

Entrance fee of Kshs 500.
Submit a passport size photo and a copy of the National ID or any other authenticated identity.
Plan to purchase a minimum of Kshs 20,000 worth of shares within 6 months.
Employed members to attach current payslip and a copy of employment letter.

Mode of remittance is through the following;

Direct deposits to the Sacco’s bank accounts.
Bank standing orders.
Check off with employer.
Direct debit.
Cash deposit over the counter.
Spotcash mobile banking- *645#.
Sacco paybill number- 798 073.

Benefits of Membership

Access to affordable and flexible credit facilities priced at a minimum of 1% and flexible repayment periods of up to 84 months.
You will enjoy high yields of returns on your investments in form of dividends on shares capital (paid annually) and interests on deposits (paid annually).
You enjoy a wide range of products and services such as mobile banking, salary advances, fixed deposit, school fees loans, emergency loans, dividend advances, share booster, agribusiness, salary processing and FOSA savings account.
The Sacco offers high end financial advice and investment forums to members on quarterly basis with expertise drawn from a pool of experienced consultants.