Tabasamu Sacco Membership Eligibility & Requirements

This article focuses on Tabasamu Sacco membership eligibility and requirements. Tabasamu Sacco began its operations on 18th February 1977 following its registration under the Co-operative Societies Act registration number 2635.

It was registered as a deposit-taking Sacco in 2014 by the Sacco Societies Regulatory Authority (SASRA). It has an asset base of 1.05 billion.

Tabasamu Sacco Membership Eligibility

The following persons, institutions or groups are eligible for membership;

All teachers.
County employees.
Private sector.
Employees of the national government ministries and parastatals.
Organised groups such as youth and women groups.
Immediate family of an existing member.

Tabasamu Sacco Membership Requirements

One off entrance fee of Kshs 500 (non-refundable), as prescribed in the sacco by-laws.
Every member shall be required to make a minimum deposit contribution of Kshs 1,000 per month and buy shares of 500, 300 and 50 each at Kshs 20 for Class A, B and C respectively.
Application for membership is on a prescribed application form which should be filled and forwarded to the office for consideration.
Employers are required to introduce their employees who wish to join the Sacco and commit themselves to deduct and remit all dues through the check-off system.