This article focuses on Sheria Sacco membership eligibility and requirements. Sheria Sacco is a Savings and Credit Co-operative Society formally registered in 1972 with a growing membership of over 10,000 members.
It is one of the largest deposit-taking Saccos in Kenya with an asset base of 8.51 billion.
Sheria Sacco Membership Eligibility
Past and present employees of;
- Judiciary.
- Office of the Attorney General.
- Government ministries and departments.
- Sheria Sacco and all its projects and subsidiaries.
- Kenya School of Law.
- All universities.
- Law Society of Kenya.
- Quasi government institutions under the office of the Attorney General and judiciary.
- Non governmental organisations.
Other eligible members:
- A member’s spouse or a member of his/her immediate family.
- Advocates of the High Court of Kenya.
- Students of the Kenya School of Law.
- Certified public secretaries.
- Approved business entrepreneurs and institutions.
- Any other person employed by an organisation registered in Kenya and capable of making regular contribution to the society and fulfill loan repayment requirements.
Sheria Sacco Membership Requirements
- A duly filled membership application form which can be downloaded from the Sacco’s website.
- A copy of National ID/ passport.
- A duly filled nominee card.
- One passport size photo.
- Kshs 1,700 entrance fee; Kshs 1,000 for registration, Kshs 500 for FOSA account opening and Kshs 200 for Burial Benevolent Fund registration.
Benefits of Membership
- The interest paid on the society’s loans is redistributed back to members as interest on deposits and dividends.
- The members have free access to the Sacco’s board and management.
- Members have a greater say in the management of the society and are represented in the supreme governance organ of the society (AGM) by their delegates.
- The society has a human face when dealing with its members.
- The members are the owners of the society and have a unique relationship with the society as they are also its customers.
- The society’s credit products are competitively priced as compared to banks and other financial institutions.
Sheria Sacco Contacts
Location: Matumbato Close, Upperhill, Nairobi.
Contact: 020 780 1500.
