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.

Tabasamu Sacco Products

Account Products

  • Current account/ salary account.
  • Biashara savings account.
  • Premium savings account.
  • Fixed deposit account.
  • Minor savings account.
  • Ramadhan savings account.
  • Christmas savings account.
  • Group savings account.

Loan Products

  • Development loan.
  • Ekeza loan.
  • Emergency loan.
  • Personal loan.
  • Special loan.
  • Jipange loan.
  • Welfare fund.
  • Instant loan.
  • Jiinue loan.
  • Karibu loan.
  • Salary advance.
  • Jienjoy product.
  • Sasa loan.
  • Biashara loan.

ATM Services

  • ATM cash withdrawal.
  • Balance enquiry.
  • Paying of fuel and utility bills.
  • Paying hospital bills.
  • Mini-statement.
  • Shopping in outlets.
  • Offsetting hotel and restaurant expenses.
  • Paying for newspaper and magazine subscription.

Other Services

  • Bankers cheque.
  • Cheque encashment.
  • Dividend payment processing.
  • Standing orders.
  • EFT and RTGS.
  • Dividend in advance/ dividend loan.

Tabasamu Sacco Contacts

Head Office: Tunawiri House, Kwale.

Contacts: 0702 599 292/ 0792 773 444.

Zack Abuyeka

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