Taraji Sacco was formed in 1978 and was initially known as Siaya Teachers Sacco. Around 100 teachers pioneered its formation to facilitate resources to offer affordable financial products and services to members, uplifting their economic life.
The Society has experienced tremendous growth, sticking to its core values of accountability, fairness, teamwork, and honesty.
The membership is now open to new teachers as well as the general public to reap its benefits. In 2017, Taraji Sacco—Siaya Teachers Sacco emerged the best-managed Sacco in Nyanza province, and the board of directors has never looked back since then.
The Sacco also has a vision of being the preferred financial partner among members offering the best financial management and service in the region.
Who can Join Taraji Sacco?
- Employees of TSC within and outside the county
- Employees from the Board of Governors
- Employees from the Ministry of health
- Employees from the county governments
- ECD Teachers
- Employees from the Ministry of water
- Registered Groups
- Individual members of the general public
How to Become a Member Of Taraji Sacco
Becoming a member of a Sacco in Kenya is simple and requires one to be a Kenyan of at least 18yesars of age and follow the laid down procedures. Taraji Sacco is not an exception. The process of joining the Sacco is straightforward. The following process applies:
a) Fill a Membership Application Form
Your first step to joining Taraji Sacco or any other Sacco is to provide your basic information by filling out a membership application form. The form captures your details like where you reside, employment status, full name, email address, phone number, and gender, among others. You can get the form from the Saccos online platform.
b) Attach a Copy of your National ID.
Being a Kenyan of 18 years or above means you own a national identification card which is a crucial document in doing important transactions and entering into sensitive deals. It will be, therefore, a fundamental requirement when joining a Sacco for your account validation.
c) Attach a copy of Payslip
If applicable, you will attach a copy of your Payslip to the duly filled registration form. The slip will provide the needed details, which will assist in making your monthly deductions to your savings.
d) Pay Membership Fee
A membership fee of Ksh5,000 is necessary for processing your membership application whereby it is non-refutable. The membership fee is also a commitment fee showing you are looking forward to becoming a sacco member.
e) Contribute Monthly Deposit
Monthly saving of Ksh2,000 is applicable when you join Taraji Sacco. The amount accumulates to allow you to acquire loans for your economic development. Taraji offers four times your savings a loan depending on your ability to pay and the security you have against your loan, which means that the more you save, the better your chance for a higher loan.
You can access your savings anytime for withdrawal. But that happens only when you want to cease your membership. You give written notice and wait at least 60 days for your withdrawals to be processed.
f) Submit Share Capital
Paying share capital of Ksh16,000 grants you shareholding rights to Taraji Sacco upon which you will also earn a yearly dividend at an interest rate against your shares.
However, unlike monthly deposits, you can withdraw, and share capital is non-refundable even when you quit the Sacco.
Taraji Sacco has transformed the lives of its members by facilitating resources to offer affordable financial products and services to members, uplifting their economic life. Its management has also been above reproach, winning it an award in 2017.
Categories: Taraji Sacco