This article focuses on Tembo Sacco membership eligibility and requirements. Tembo Sacco is a licensed deposit-taking Savings & Credit Co-operative Society regulated by Sacco Societies Regulatory Authority.
The Sacco was registered in 1972 and has an asset base of over 4.91 billion serving over 7000 members. It prides itself in its core purpose which is to create wealth for its members through innovative savings products and provision of low-interest credit facilities.
Tembo Sacco Membership Eligibility
The Sacco was initially serving East Africa Breweries Limited employees but currently, it has open membership to others within the market.
Tembo Sacco Membership Requirements
(i). Individual Membership
- Must be a person of 18 years and above, either employed or self-employed carrying out a legal activity in Kenya.
- Must duly complete the membership application form and nominee form which can be downloaded from the Sacco’s website.
- Must have a copy of National ID.
- Must have a copy of KRA PIN.
- Must provide one passport-size photograph.
- Must pay a non-refundable registration fee of Kshs 1,000.
- Must pay a FOSA account minimum fee of Kshs 1,000.
(ii). Joint Membership
- Both must be persons of 18 years and above, either employed or self-employed carrying out a legal activity in Kenya.
- Both must duly complete the application form.
- Both must have a copy of KRA PIN.
- Both must provide one passport-size photograph.
- Must pay a non-refundable registration fee of Kshs 1,000.
- Must pay a FOSA account minimum fee of Kshs 1,000.
(iii). Group/ Corporate Membership
- Must have completed the group/ corporate registration form.
- Must submit one passport-size photograph for each signatory.
- Must submit copies of IDs for each signatory.
- Must submit a copy of the registration certificate/ certificate of incorporation.
- For corporate, Articles of Association or Memorandum of Association will be required.
- Must submit resolutions/ minutes authorising opening of the account with clear opening instructions.
- Must submit a copy of the constitution duly signed by the officials and stamped.
- Must provide a list of all members of the group/corporate, their telephone number and ID number.
- Pay non-refundable registration fee of Kshs 1,000.
- Must pay a FOSA account minimum fee of Kshs 1,000.
Tembo Sacco Contacts
Location: Tembo Sacco Plaza, Garden Estate Road, Nairobi.
Contacts: 0722 992 469/ 020 260 3334.
