This article focuses on Ollin Sacco membership eligibility and requirements. Ollin Sacco Society was registered on 14th June 1976. It had a membership of 163 on inception but the membership currently stands at over 27,000 active members.
Ollin Sacco is one of the largest deposit-taking Saccos in Kenya with an asset base of more than 8.18 billion. It was the first Sacco in Africa and Kenya to operate a Front Office (FOSA) in 1995.
Ollin Sacco Membership Eligibility
Membership is drawn from;
- Primary school teachers.
- Post primary school teachers.
- Secondary school teachers.
- TSC secretariat (Teachers Service Commission).
- Retired teachers.
- Public officers in government ministries.
- Sacco employees (society employees).
- Employees in private institutions.
- Business community.
Ollin Sacco Membership Requirements
- Fill the membership application form which is available on the Sacco’s website.
- Attach ID/Passport copy and a passport size photograph.
- There is no membership fee.
Benefits of Membership
- Access to affordable deposit loans up to 5 times your member deposits.
- Consistent high dividends paid at 17.5% on share capital.
- High interest on deposits paid at 12%.
- Instant loan processing (no loan backlog).
- Low interest rates on loans, 1% on reducing balance.
- Access to salary advance loan of up to Kshs 2,000,000.
- Flexible loan repayment period of up to 96 months.
- Access to 24 hours alternative banking channels (spotcash *645#/ ollinkash app).
Ollin Sacco Products
(a). Savings Products
(i). Personal Savings Account
- Ordinary savings account.
- Fixed deposit account.
- Call deposit account.
(ii). Joint & Business Accounts
- Joint account.
- Group savings account.
- Business account.
(iii). Future Savings Account
- Stop gap account.
- Education scheme account.
- Mapato savings account.
(b). Loan Products
(i). Long-term Loans
- Capital loan.
- Investment loan.
- Development loan.
- Prime loan.
- Ollin premium loan.
- Estate loan.
- Supa loan.
- FOSA loan.
(ii). Short-term Loans
- Emergency loan.
- Education loan.
- Fanikisha loan.
- Salary advance loan.
- Alpha loan.
- Business loan.
- Stop gap loan.
- Pamoja loan.
Ollin Sacco Contacts
Head Office: Along Kerugoya- Kiang’ombe Road, Kerugoya Town.
Contact: 0724 256 461.
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