How to Join Shirika Sacco [2022]

How to Join Shirika Sacco

Since its establishment in 1969 by the Ministry of Cooperative staff, Shirika Sacco has opened up its membership to all Kenyans 18 years old or above. The Sacco was opened up to include cooperatives related to the ministry upon approval by the Annual General Meeting. Even after quitting employment, Shirika Sacco retains membership of its registered members.

Apart from cultivating the spirit of savings, the Sacco is committed to ensuring members improve their economic lives by providing flexible and affordable loans. So far, it has accumulated total assets of over Ksh4 billion and over 100 000 members. The membership is still growing due to its appealing and reliable services.

Becoming a Member

Like any Sacco in the Kenyan financial market, Shirika Sacco has specific requirements to become a member. The registration process is, however, simple and takes a short time. the requirements include the following

a) Filled Membership Form

The membership application form is meant to capture your essential information, such as your full name, your email address, physical address, and phone number, among other necessary details. The form can be obtained online or picked from one of the Shirika Sacco next to you.

When through with filling out the form, you can either drop it physically at any of the Sacco branches or send it as a parcel to the Sacco.

b) Copies of Your Documents

For authentication, the Sacco will require a copy of your original identification card. And for your member’s profile and the Saccos identification card, you will provide two passport-sized photos. The ID card is issued when your application is accepted, and you get a membership.

c) Registration Fee 

To help the process, you’re application and admission into Shirika Sacco. You will pay a registration amounting to Kshs1,000, payable once and is non-refundable. After you have paid the amount and attached all the necessary documents, the management will go through them and get back to you with feedback on the status of your application.

d) Monthly Deposit

The major reason why people join Saccos is to get loans. The amount of loan you can qualify for is determined by your savings in Sacco. In Shirika Sacco, you will commit Ksh2,000 for your monthly savings. Besides the deposit, you will submit Ksh300 monthly as a risk fund to insure your loans.

e) The Share Capital

To complete your membership, you shall pay a share capital of Kshs25,000. The amount is non-refundable. You can only transfer your shares to another member if you want to quit the Sacco. However, the share is of great importance since they give you ownership rights in the Sacco as you also earn annual dividends.

Types of Payments

Since Shirika Sacco accepts people with different income backgrounds and professions, it tries to provide convenience to both by offering options. The options include a check-off system and non-check-off members.

Check off system applies to members in formal employment getting a salary monthly. Instead of making a personal commitment, their employers, upon agreement, directly deduct their contributions from their payslip—mostly 10% of gross monthly pay.

On the other hand, some non-check members could be self-employed or businesses. Suppose you fall here, and you can use the pay bill number to send your monthly contributions and loan repayment, which should reach the Sacco by10th every month.

The Bottom Line

Though Shirika Sacco is still growing its membership, it has influenced the lives of many members by offering affordable loans for businesses, school fees, emergencies, and many more. The process of joining the Sacco is also less complicated. You can give it a try and see your financial life improve.

Categories: Shirika Sacco


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