Ndege Chai Sacco Membership Eligibility & Requirements

This article focuses on Ndege Chai Sacco membership eligibility and requirements. Ndege Chai Sacco was established and registered in 1978.

It is a deposit-taking co-operative society offering members an opportunity to save and access affordable loans to develop and improve their economic and social welfare.

The Sacco was licensed in 2011 as a deposit-taking society. It currently has over 66,000 active members and an asset base of more than 4.27 billion.

Ndege Chai Sacco Membership Eligibility

The Sacco is operating under an open membership bond of association. It mainly draws members from;

Employees of Finlays countrywide.
Local tea factories.
Spouses of members.
Employees of tea companies.
Private security firms.
County government staff.
NGOs.
Business community.
Farmers and outgrowers.
Recreational clubs and hotels.
Approved business entrepreneurs and institutions.

Ndege Chai Sacco Membership Admission

An applicant shall be admitted to membership on being accepted by a simple majority vote of the Board of Directors.
One shall not qualify for the rights and privileges of membership until he/she has paid an entrance fee as may be prescribed in the membership policy and paid in full share capital of Kshs 5,000, i.e 50 shares of Kshs 100 each.

Benefits of Joining Ndege Chai Sacco

You enjoy various loan products thereby growing financially in leaps and bounds.
The various savings products help you to save and invest wisely.
As a member, you will be able to use your account to make deposits and to channel salaries from your employer and other payments from business, farming etc.
You will get financial literacy training and information during members’ education sessions.
The Sacco has embraced the latest efficient technology in most transactions so as to meet and exceed customers’ needs.