How To Join Centenary Sacco [2022]

How To Join Centenary Sacco

Centenary sacco is a licensed sacco in Kenya that was established in the year 2003 with the main objective of bringing cheap credit facilities, credit management skills and drive its members to economic prosperity from whatever economic status.

For anyone looking to join centenary sacco, its operations are governed by principles summarized by their vision, mission and core values as highlighted below

Vision: To be the leading sacco nationally providing financial services.

Mission: To effectively mobilize resources, providing market led financial solution to our members with a strong commitment on social-economic change.

Motto: Ushirika with a difference

Core values: Customer focus, integrity, teamwork, creativity, innovation, professionalism, social and gender equity.

Benefits of Joining Centenary Sacco

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

1. Savings- Under the savings option, there are several centenary sacco savings products once you join centenary sacco. They include;

  • Individual’s savings account- geared towards non-salaried members and requires a minimum balance of Ksh100 with no ledger fees.
  • Salary account- geared towards salaried members and requires a minimum balance of Ksh100 with no ledger fees.
  • Group/institutional account- geared towards salaried members and requires a minimum balance of Ksh500.
  • Jifunze junior account- this account is targeted towards children below the age of 18 years and requires a minimum balance of Ksh500. However, amounts above Ksh5K attract monthly compound interest of 5%.
  • Fixed deposit account- this account is reserved for investors looking to earn interest rates dependent on the prevailing CBK rates.

2. Loans- Under the loans option, there are several centenary sacco loan products once you join centenary sacco. These include;

  • Salary loans- targeted towards employed individuals whose salaries are channeled through FOSA for a period of not less than 1 month. The loan amount is 9 times of two-thirds salary rule to be repaid within 12 months.
  • Salary advance- targeted towards salaried members whose salaries are processed through FOSA account and must be endorsed by the employer. The loan amount is 3 times of two-thirds salary repayable within 6 months.
  • Kamua pesa loan- beneficial to dairy farmers operating FOSA accounts whereby they can qualify for 9 times average of 3 months payout with a repayment duration of 12 months.
  • Vuna majani loan- beneficial to tea farmers operating FOSA accounts whereby the maximum amount is based on previous years production in (Kgs) with a repayment period of 12 months.
  • Bonus/coffee advance- beneficial to coffee/tea farmers operating FOSA accounts whereby the loan amount is based at Ksh10 per kg and is to be repaid within 3 months.
  • Jifunze junior loan- this type of loan is reserved for members with jifunze accounts that have been active for a period of not less than 4 months. It offers 80% school fee financing upto a maximum loan amount of Ksh100K repayable within 12 months.
  • Salary overdraft- targeted towards salaried members whose salaries are processed through FOSA account whereby the loan is advanced monthly after the 15th day and is fully recovered upon receipt of that month’s pay.
  • Classic loan- targeted towards employed individuals on a permanent and pensionable basis whose salaries are channeled through FOSA for a period of not less than 3 months. The maximum loan amount for this type of loan is Ksh1M to be repaid within 60 months.
  • Normal loan- this loan type is targeted towards members requiring Ksh300K and above where the maximum loan advanced is 3.5 times the member’s deposit and is to be repaid within a period of 48 months.
  • Instant loan- this loan type is targeted towards members requiring Ksh300K and below where the maximum loan advanced is 3.5 times the member’s deposit and is to be repaid within a period of 48 months
  • Re-financing loan- involves loan advanced to active Sacco members who have other Bosa loan and are servicing them accordingly whereby their deposits can allow another loan to re-finance their current projects. Loan limits for such kind of loans are determined by 3.5 times total deposit freed upon which the maximum repayment period is determined by number of BOSA loans one has.
  • Asset finance loan- this loan is reserved for active sacco members with ambitions of purchasing assets for development purposes. The loan amounts range between Ksh200K to Ksh2.5M subject to five times a member’s deposit.
  • Kumekucha loan- middle term loan advanced to established and registered groups and institutions to finance income generating group/institutions projects. The minimum amount is Ksh50K and a maximum of Ksh5M for established groups and maximum Ksh10M for institutions. The loan bears a maximum repayment period of 24 months with a grace period of 2 months on principal.
  • Pambazuka loan- long term loan advanced to established and registered groups and institutions to finance income generating group or institutions projects. The minimum amount is Ksh50K and a maximum of Ksh5M for established groups and maximum Ksh10M for institutions. The loan bears a maximum repayment period of 48 months with a grace period of 2 months on principal.
  • Micro-credit loan- short term loan granted to members of micro credit groups with low deposit amounts. The maximum loan granted is ten times one’s deposit with 20,000 first cycle and graduated by 20,000 for the subsequent cycles to a maximum of 80,000 in the fifth cycle with a maximum repayment period is 12 months.
  • Mibubo loan- this loan is granted to credit worthy microcredit members whereby they can access loan amounts ranging from a minimum of Ksh80K to a maximum of Ksh150K to be repaid in 18 months.

3. Mobile banking: via ussd code *882# or X-Mobi app available from the Playstore which allows members to view sacco balances and statements, request loans, transfer cash from account to M-Pesa as well as to other bank accounts, stop cheque payments and also disable ATM card.

4. Additional services offered by centenary sacco is ATM services, personalized cheque books etc

Centenary sacco Head office

Centenary sacco has several branches spread out across the country whereby anyone can be able to join centenary sacco.

Intercity Building,
Along Meru-Nanyuki Highway
Address: P.O Box 1207-60200.
Phone: 064-3 132 236/ 0715 467 290
Email: info@centenarysacco.org

Centenary sacco branches

Branch nameLocationContacts
Chuka branch
Kinoro branch
Mutuati branch
Marimati branch

How To Join Centenary Sacco And Become A Member

Individual(s) or groups whose members are above the ages of 18 years and above are free to join centenary sacco by filling in the relevant forms, attaching the various verification documents and paying the required fees.



Categories: Centenary Sacco

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1 reply

  1. Thanks for clarity of informations about your bank,am very interested and in need of account there.

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