With a primary goal of transforming the economic lives of members through accumulative savings to acquire affordable credit facilities, Ukristo na Ufanisi Sacco was formed in 2001 as a christian financial institution.
On 2nd November 2005, the Sacco was registered under the Co-operative Societies Act of Laws of Kenya and has since been licensed by SASRA. The sacco boasts of over 39,000 members, share capital of over Ksh137 Million, and a total deposit of over Ksh1.4 Billion.
How to Become a Member Of Ukristo Na Ufanisi Sacco
The growth of the Sacco has been tremendous, with over seven fully operational branches and plans to open more branches with time. Some branches include Riruta—head office, Kiambu, Ngong, and Limuru, among others.
To become a member of the Sacco, one needs the following:
a) Filling out Membership Application Form
In many Saccos filling out membership application forms, the first step into gaining membership is to start participating in the Saccos activities like saving and borrowing.
The form captures some of your basic yet essential information like your full name, physical address, email address, phone number, and gender, among some crucial details. The form is available on the Saccos online portal.
b) A Copy of National ID.
Membership of a Sacco is normally open to ID holders. The identity card is a special document when joining a Sacco as it helps in account verification as required by the law.
c) One Colored Passport Photograph.
You will have your member’s profile when you join the sacco. Your passport photo will be attached to it, hence the need to attach a passport-size photo when submitting your application. It will also assist in producing your Sacco identity card.
d) KRA PIN copy
Kenya Revenue Authority pin is required to fill your tax returns and obligations as required by the law. As a tax-payer, there are some tax policies you have to adhere to stay on the right side of the law.
e) Registration Fee
To your duly filled application form and the attached documents, you will also add Ksh500 as an application fee. The amount is crucial in processing your membership and showing your commitment to the affairs of the Sacco.
f) Submit Monthly Savings
Committing monthly savings of at least Ksh1,000 will make you enjoy the fruits of joining a Sacco. The amount accumulates to offer you an opportunity to qualify for affordable loans for your personal development.
You can decide to save more than the provided minimum amount to qualify for a higher amount of loan. The amount is refundable only when you want to quit the Saccos membership. You will give written notice and wait for your funds to be processed.
g) Contribute Share Capital
One major benefit of joining a Sacco is you become both a shareholder and a member. This happens when you submit your share capital.
The board determines the amount which is usually is a one-time payment and non-refundable. However, you can transfer your shares to another Sacco member when you want to end your membership.
If you are seeking membership as a registered/unregistered group, you should produce the following documents.
- Registration certificate duplicate (applicable to registered group)
- Group minutes containing resolutions of joining the sacco.
- The group’s constitution.
- A duly completed membership form.
- The names of at least three account signatories, duplicates of their IDs plus 2 passport photos each.
Tapping into this lucrative financial sector as a Church has seen Ukristo na Ufanisi Sacco transform many lives of its members. They are able to save and access affordable and friendly financial products and services to promote their economic lives.
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