Faridi Sacco Membership Eligibility & Requirements

This article focuses on Faridi Sacco’s membership eligibility and requirements. Faridi Sacco was registered on 6th March 1977 via registration certificate number 2655 as Busia Teso Teachers Sacco Society. It was later rebranded on 13th September 2014 as Faridi Sacco Society Limited.

The Sacco was formed to promote thrift among its customers by affording them an opportunity for accumulating their savings and thereby creating a source of funds for providing affordable credit to its customers.

To date, the Sacco has experienced substantial growth, with several organisations in its common bond and with over 60,000 members and an asset base of 1.85 billion.

Faridi Sacco Membership Eligibility

Employees from the following organizations are eligible for membership;

Teachers Service Commission (TSC) members.
All government ministries.
School subordinate staff.
Kenya National Union of Teachers (KNUT) members.
Sacco staff.
Other corporate entities.
Business entrepreneurs.
General public through micro-credit.

Faridi Sacco Membership Requirements

Completed membership application form which can be downloaded from the Sacco’s website.
In the case of natural persons, attach a copy of National ID/ passport, copy of payslip or introduction letter from employer or KRA PIN certificate and filled nominee card.
In the case of artificial person, attach a copy of registration certificate, ID/ passport of directors, article of association, memorandum of association, KRA PIN for both the company and directors.
In the case of persons from informal employment, a letter from the chief or assistant chief to be attached.