Taifa Sacco Membership Eligibility & Requirements

This article focuses on Taifa Sacco membership eligibility and requirements. Taifa Sacco was started in January 1974 as a banking section of the Nyeri District Co-operative Union to offer banking services to the rural farmers in Nyeri District who were members of cooperative societies.

In 1998, the union banking section transitioned into a savings and credit cooperative society. It was registered as Nyeri Farmers Credit & Savings Co-operative Society (Nyeri Farmers Sacco).

The demand for savings and credit services continued to grow even among members who were not necessarily farmers and carried out their economic activities outside the former Nyeri District.

As a result, Nyeri Farmers Sacco re-engineered its products and services and also rebranded to Taifa Sacco in 2005 in order to accommodate the diverse and growing membership.

Taifa Sacco Membership Eligibility

Taifa Sacco membership is open to all irrespective of their sector of economy. This includes;

  • Business persons, small, medium and large businesses.
  • Institutions and companies.
  • Salaried people.
  • Jua kali artisans.
  • Groups, self help, youth groups and chamas.
  • Societies.
  • Small and large scale farmers.
  • Pensioners.

Taifa Sacco Membership Requirements

(a). Individuals

  • Original and copy of ID card/ military ID/ passport/ driving license.

(b). Groups

  • Groups’ resolution (minutes).
  • Signatories original and copy of ID card.
  • Original and copy of registration certificate.

(c). Business Accounts

  • Signatories original and copy of ID cards.
  • Original and copy of business registration certificate.

(d). Children Accounts

  • Copy of child’s birth certificate.
  • Original and copy ID card of parent/ guardian.

How to Join Taifa Sacco

1. Visit the nearest Taifa Sacco branch.

2. Open a membership account with Kshs 1,100;

  • Kshs 100 for account opening.
  • Kshs 500 for savings.
  • Kshs 500 for shares i.e 5 shares each at Kshs 100.
  • Minimum share subscription is 100 shares at Kshs 10,000.
  • Shares can be boosted through Mpesa, standing orders and cash deposits in the Sacco’s branches.

Taifa Sacco Contacts

Head Office: NCU Building, Gakere Road, Nyeri Town.

Contacts: 0733 120 101/ 0724 635 463/ 0733 120 703.

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