This article focuses on Ushuru Sacco membership eligibility and requirements. Ushuru Sacco was formed in 1970 by employees of the then Customs & Excise Department, Ministry of Finance, under the name of Customs & Excise Workers (CUEW) Sacco.
When Kenya Revenue Authority (KRA) was formed in 1995, CUEW Sacco also changed its name in 2002 to Ushuru Sacco, to reflect the new will of inclusive membership consisting of KRA and other public and private institutions.
With an asset base of 6.12 billion, Ushuru Sacco is one of the largest deposit-taking Saccos in Kenya.
Ushuru Sacco Membership Eligibility
Uhuru Sacco is a member-owned business and membership is open to all resident and non-resident Kenyans anywhere in the world.
A person shall be eligible for membership if he/she has the following qualifications;
- Is not less than 18 years of age.
- Is an ordinary resident in Kenya.
- Has not been convicted of a criminal offence involving fraud and dishonesty.
- Is not a member of any similar savings and credit cooperative society during the tenure of his membership.
- Is within the field of membership of employees of KRA, government ministries, any other reputable company or organisation or spouse of an already existing member.
- Is not directly or indirectly a money lender or carrying out such activities detrimental to the objectives of the sacco.
- Is of good character.
Ushuru Sacco Membership Requirements
- A filled out membership application form which can be downloaded from the Sacco’s website or picked at any of the Sacco’s branches.
- A copy of National ID.
- A passport size photograph.
- Entrance fee of Kshs 1,000.
- Share capital of Kshs 30,000.
- Monthly savings of Kshs 3,000.
- Rejoining fee is Kshs 3,000.
- RMF monthly (Kshs 300).
Benefits of Membership
- Loan turn around of 48 or less hours.
- Access to 24 hours alternative channels; mobile banking, online portal, sacco link debit card and many more.
- Access to quick and convenient mobile based loans up to Kshs 150,000.
Ushuru Sacco Contacts
Head Office: Ushuru Sacco Centre, Wood Avenue, Kilimani, Nairobi.
Contact: 020 760 8700.