This article focuses on Nyati Sacco membership eligibility and requirements. Nyati Savings & Credit Co-operative Society was registered in 1977 under the Cooperatives Societies Act by the then employees of Securicor Security (currently G4S Security).
In 2016, Nyati Sacco was licensed to conduct deposit-taking business under the Sacco Society Act of 2008. Under the watchful eye and regulation of SASRA, the society continues to respond to the emerging and growing needs of members.
Nyati Sacco’s objective is to create a vehicle to promote a savings culture among the members and to lend out loans to the members for personal development, school fees and emergency expenses.
The Sacco currently has a membership of 27,367 with an asset base of 4.58 billion, a loan portfolio of 3.53 billion, a share capital of 148 million and other liabilities.
Nyati Sacco Membership Eligibility
- Employees from organisations that have a check off agreement with the sacco. This includes organisations such as; G4S Secure Data Solutions, Tandu Alarms, Drugnet Limited, Turtle Bay Resort, Absolute Security, Secure Contractors, Buffalo Bicycles, Estec Kenya, Cloves Management, Kleen Homes, Wecan Security, Gulf Energy and Cobra Security.
- Employees of any other organisation as may be approved by the board.
- All former employees of companies with check-off agreement with the sacco.
- Employees of Nyati Sacco.
- Spouses and children of Nyati Sacco members who have been introduced by the said member in writing.
Nyati Sacco Membership Requirements
- Fill in a membership application form that can be downloaded from the Sacco’s website or obtained from offices or delegates countrywide.
- Copy of National ID, latest payslip, ATM card and 2 coloured passport photos.
- Entry fee is Kshs 500.
- Minimum monthly deposit is Kshs 1200.
- Minimum share capital is Kshs 3,000.
Benefits of Membership
- Attractive dividends on shares and interest on deposits.
- Saving enables one to put aside reserves for his/her future and quality for bigger loans.
- High savings need fewer/ no guarantors to secure loans.
Nyati Sacco Contacts
Head Office: Odyssey Plaza, 2nd Floor, South B, Mukoma Road, Nairobi.
Contacts: 0710 567 582/ 0711 593 190.
