This article focuses on the Noble Sacco membership eligibility and requirements. The Noble Sacco was registered on 10th February 1977 with a membership of 674 and a share capital of Kshs 56,000 at the end of that financial year.
To date, the total membership of the society is 12,000 with an asset base of 3.19 billion.
The Noble Sacco Products
(a). BOSA
- Emergency loan.
- Super development loan.
- Refinancing loan.
- College/ fees loan.
- Karibu loan.
- Development loan.
- Normal loan.
(b). FOSA
- Salary advance.
- Short-term advance.
- Agribusiness advance.
- Long-term salary advance.
- Super salary advance.
- Supreme advance.
- Loan advance.
- Loan clearance advance.
- Refund advance.
- Welfare advance.
- Shares boosting advance.
- Cheques advance.
- Group microfinance.
- Inuka microfinance.
(c). Mobile money services (M-noble banking)
M-noble banking service enables customers with FOSA accounts to transfer cash from their account to Mpesa conveniently and affordably.
Conditions:
- One must have an active FOSA account.
- One must be registered to use this service. Registration is done at the ICT office (the Sacco’s head office).
- One has to set his/her own PIN number upon receiving the default PIN from the sacco.
The Noble Sacco Membership Eligibility & Requirements
The Noble Sacco membership is open to all. For one to join the Sacco, he/she needs to meet the following requirements;
- Filling of membership forms (one can download from the Sacco’s website).
- Mandatory membership fee of Kshs 500.
- Monthly share contribution is 10% of the basic salary (those in check off system) and subject to minimum of Kshs 1500.
- Loan is issued based on the amount of shares with a multiplying factor of 3.
- High monthly turnover in both sections of the sacco; FOSA, BOSA and microfinance.
- Payslip ability is also considered for members in formal employment.
The Noble Sacco Contacts
Location: Ronald Ngala Street, Next to Co-operative Bank, Eldoret.
Contacts: 0707 559 535/ 0105 119 848.
