Expand To Show Full Article
How To Join Acumen Sacco [2022] - RadaSacco

How To Join Acumen Sacco [2022]

How To Join Acumen Sacco

Acumen sacco is a licensed deposit-taking sacco in Kenya that was established in the year 2008 with the main objective of mobilizing savings in order to promote the welfare and economic interest of members whereby the savings will assist the sacco to build a base where members can easily obtain affordable credit.

In addition, those who join acumen sacco also get to continuously be well informed on the sacco’s philosophy which are governed by its principles summarized by their vision, mission and core values as highlighted below

Vision: To be the financial services partner of choice.

Mission: To empower our members through innovative financial solutions.

Motto: With us you are sorted

Core values: Customer focus, integrity, professionalism, innovation and team work.

Benefits of Joining Acumen Sacco

Acumen sacco provides a wide variety of products and services catered to each individual member’s needs. Such products and services include:

1. Loans- Under the loans option, there are several acumen sacco loan products e.g ussd loans once you join acumen sacco. They include;

  • Development loan- this loan is purposefully for development projects where it is triple members’ deposits with a repayment period of six months.
  • Emergency loan- geared towards crisis situations and has a repayment duration of upto twelve months.
  • School fees loan- enables members to fund their children’s education and has a maximum duration of 12 months to be repaid.
  • Quick-Cash- instant loan capped at a maximum of Ksh10K repayable within seven days.
  • Sambaza loan- issued to a member with an outstanding development loan which must have been paid for at least 3 months whereby repayment is upto 48 months.
  • J-Sort loan- instant loan to be repaid in one month and should not exceed non-withdrawal deposits.
  • Real estate loan- loan amount is thrice a member’s deposit and is to be repaid in 48 months.

Other credit facilities provided under the FOSA category include; supa loan, biashara loan, salary advance, salary-in-advance, rent advance, okoa advance, dividend advance and mobile loan.

2. Savings- Under the savings option, there are several acumen sacco savings products once you join acumen sacco. Such include;

  • Fixed deposit account- requires three months activity and a minimum balance of Ksh20K
  • Holiday account- targeted towards savings accumulation for holiday expenditure.
  • School fees saving- targeted towards funding children’s education.
  • Children account- enables a member to save for his or her child’s future financial needs.
  • Saving account- geared towards development purposes whereby loan amounts are three times a members’ deposit with a repayment period of sixty months.

3. Assurance- offers insurance products to members at negotiated rates on behalf of CIC group ltd. Members can get vehicle, property or medical covers from CIC ltd through the society as well as assist members to pay for their insurance premiums through insurance premium financing solutions.

4. Mobile banking: via ussd code *850# or acumen app available from Playstore which provides services such as viewing loan, shares & deposit mini statements, cash withdrawals from fosa accounts, direct cash deposits to membership and fosa accounts, balance enquiries to bosa/fosa accounts as well as access short term loans.

5. Additional services provided by acumen sacco include; salary processing, sale of banker’s cheque, RTGS and internal funds transfer, cheque deposit/issuance, M-Pesa agency, ATM services, standing orders, Coop agency etc

Acumen Sacco Head office And Contacts

Acumen sacco has several branches spread out across the country with locations with its main office located at:

Great Wide Mall, 2nd Floor,
Opposite Cleanshelf Supermarket,
Ongata Rongai.
Tel: 0713805770; 0771878920, 0782 805770
Email: info@acumensacco.co.ke

How To Join Acumen Sacco And Become A Member

Membership to join acumen sacco is open to all including salaried, non-salaried and corporates whereby applicants are required to meet the below requirements.

For individuals/groups, one is required to fill in the account opening form which requires details such as;

  • Account type i.e current, salary, other etc
  • Registration name, date & number, KRA Pin, email address, phone number and postal address (applicable to group application)
  • 1st applicant details; full names, nationality, date of birth, ID number/passport number, county/sub-county, marital status, phone number, postal address & code, employment number, KRA Pin, email address, source of income and estimated monthly turnover.
  • Fill in the same details for 2nd, 3rd or 4th applicant (applicable for joint application)
  • Registration fee is Ksh1K
  • Minimum monthly contribution of Ksh2K
  • Minimum share capital of Ksh5K
  • Copy of national ID/passport

For corporates, fill in the Corporate membership application form whose details are;

  • Applicant’s details such as names, registration date & number, postal address & code, phone number, email address,  business location/branch, building/floor/room number, certificate/registration number (to be attached) as well as full name of authorized officers indicating their positions and signatures.
  • Registration fee is Ksh2K
  • Minimum monthly contribution of Ksh2K
  • Minimum share capital of Ksh5K
  • Copy of national ID/passport

Categories: Acumen Sacco


Leave a Reply

%d bloggers like this: