Shoppers Sacco Membership Eligibility & Requirements

This article focuses on Shoppers Sacco membership eligibility and requirements. Shoppers Sacco is a licensed deposit-taking sacco established in 1993 with the sole objective of uplifting the members’ social and economic well-being.

In 2011, the Sacco introduced Front Office Services Activity (FOSA) to offer banking services to its members. The Sacco has grown tremendously with over 19,000 members, having started with only 100 members in 1993.

The Sacco’s asset base stands at Kshs 610 million, loan balance of 0.84 billion, and a total deposit of 0.3 billion.

Shoppers Sacco Membership Eligibility

The Sacco’s membership is open to all Kenyans. Anyone can join the Sacco as an individual or group.

Shoppers Sacco Membership Requirements

Fill a complete membership application form which is available on the Sacco’s website.
Attach two recent passport size photographs.
Attach a copy of your National ID or passport.
Kshs 500 non-refundable joining fee for new members. The said registration fee can also be deducted from the payslip on the first contribution.
Upon withdrawal and the member wishes to rejoin the sacco, he/she can do so upon payment of rejoining fee of Kshs 1,500.

Benefits of Membership

The Sacco inculcates the culture of saving to members and tames their spending habits.
Members can access their money conveniently through sacco link ATM cards, mobile banking and e-banking.
The Sacco offers financial empowerment and investment opportunities to members.
Members get access to affordable and competitive loan facilities.
The Sacco’s interest on loans is as low as 1% per month on reducing balance.
Guaranteed interest on share deposits and dividends on share capital at a competitive rate as approved in the AGM.
Burial expenses are catered for to all members and their families in the benevolent scheme.