How To Join County Sacco [2022]

How to join county sacco

Image Courtesy: County Sacco

If you are in Runyenjes and looking for a sacco, you need to join county sacco. The sacco is a licensed sacco in Kenya that was established in the year 1991 to to promote the economic and social interests of members, in accordance with the co-operative principles, which are: voluntary and open membership; democratic member control; economic participation by members; autonomy and independence; education, training and information; co-operation among co-operatives; and concern for the community in general.

County sacco operations are governed by principles summarized by their vision, mission and core values as highlighted below

Vision: To be the leading provider of quality and competitive financial solutions.

Mission: To mobilize resources and provide customized financial products and services within Kenya using appropriate technology and upholding the highest level of professionalism.

Motto: Together we save, together we grow.

Core values: Professionalism, accountability, integrity, teamwork, innovation and transparency.

Benefits of Joining County Sacco

There is a wide variety of products and services catered to each individual member’s needs once you join county sacco. Such products and services include:

1. Savings- Under the savings option, there are several account options once you join county sacco. They include;

  • Ordinary account: this is a mandatory account opened upon attaining membership to the sacco. It holds an individual’s shares and requires a minimum balance of Ksh500.
  • Corporate account: this is an account targeted towards corporate clients, organizations and enterprises. For account opening, applicants must submit certificates of corporation (CoC), group minutes declaring intention as well as a list of signatories. In addition, the account requires a minimum balance of Ksh1,000
  • Children account: this account is reserved for individuals who are below 18 years of age whereby holders are entitled to annual party. The account requires a minimum balance of Ksh1,000
  • Christmas account: Deposits to this account are channeled towards festivity expenses whereby withdrawals are only permitted between 22nd December and 2nd January.
  • Micro-enterprise account: this type of account is focused towards groups through which they can acquire loans subject to 8-weeks savings via the account.
  • Student account: students of tertiary institutions such as universities, colleges or technical vocations can make save via this specific account.
  • NHIF: this account is beneficial towards saving for NHIF premium payments.
  • Business account: anyone operating a business can channel their savings to this account upon which guarantees accessibility to business loans and advances, requires no withdrawal notice and also has an option of a personal cheque. The minimum operating balance required for this account is Ksh1,000
  • Akibamunda account: this account offers competitive interest rates with quick access to advances of upto 80% deposit. This account requires a minimum balance of between Ksh20,000-ksh50,000 for periods of 3-6 months respectively.

2. Loans- Under the loans option, there are several account options once you join county sacco. These include;

  • Kilimo loan: targeted towards small farmers and agribusiness traders whereby applicants can access loans of upto Ksh2 M to be repaid within 3-24 months.
  • Milk/Maziwa loan: this loan is subject to milk production upon which shall be granted after cow assessment report approval and is to repaid monthly for a period of 18 months.
  • Biashara loan: targeted towards business expansion with loans of upto a maximum of Ksh5M to be repaid within 3-24 months in either weekly or monthly basis.
  • Jijenge loan: focused on small scale traders with no established businesses. Applicants can access a maximum loan amount of Ksh100K to be repaid weekly for a period of 3-12 months.
  • Chama loan: targeted towards small welfare groups to access loans ranging from Ksh100K to 2M for a repayment duration of 2-3 years.
  • Mshahara loan: this type of loan is reserved for employed members with a check-off system via the sacco. Such individuals benefit to access loans of upto Ksh2M repayable monthly for a period of 1-60 months.
  • Microfinance loan: this is targeted towards a group formation of small/micro enterprises where they are able to apply for loans of upto Ksh1M with a repayment plan of upto 24 months.
  • Co-op bank faida loan: this kind of loan is reserved for county sacco members with dully paid up Cooperative bank Class A shares.
  • Institutional loan: this loan type is for groups/businesses with an income generating project and an active county sacco account for a period of not less than 6 months. Loan amounts under this category range from Ksh1K to 2M with a loan tenure of 2-3 years.
  • Loans-in-kind: this is a loan structure whereby county sacco buys goods on behalf of its members who in turn pay 70% of the total price while 30% is treated as a loan to the members.
  • M-loan: this loan is accessible via the mobile banking ussd platform *879# where loans of upto Ksh5,000 are disbursed instantly to be repaid within a month.

3. Investments- Under the investments option, there are several account options once you join county sacco. These include;

  • Sacco shares: also referred to as capital shares, these are non-refundable and earn annual dividends. The minimum share per individual member is 13,500.
  • Share deposits: these type of shares are refundable, earn annual interests, have zero minimum shareholding and can be used to guarantee loans to other sacco members.
  • Micro deposits: these also have the same attributes as the share deposits mentioned above.

4. Advances – Under the advances option, there are several account options once you join county sacco. These include;

  • Milk advances: these are milk-based loans that are granted on request and are repayable in 1 month.
  • Maziwa waruvaji: these are similar to milk advances but have a longer repayment period of upto 3 months.
  • Cheque advance: this involves cheque discounting whereby county sacco members can access upto 80% of a cheque’s value while they await clearance.
  • Fixed deposit advance: this is targeted towards individuals with high disposable income who can make short term deposits of upto 12 months with minimal withdrawals.
  • Crop advance: these are tea production based loans that are to be repaid within a month.

5. Mobile banking: registration to this service via ussd code *879# will enable access to various m-banking service options such as: accounts to mpesa, loans, balance enquiries, mini-statements, PIN changes, deposits, airtime purchases, guarantorship etc

6. Additional services offered by county sacco include; field cash collections, M-Pesa agencies, coop agencies, cheque clearing, sacco agencies etc

County Sacco Main Office & Contacts

Below is the main office whereby anyone willing to join county sacco can pay a visit.

P.O. Box 21-60103,
Runyenjes, Kenya
Tel: +254700290241/ +254732210416

County Sacco branches & Contacts

Branch nameEmail addressPhone contact
Kanja 752 892 281
Karurumo 752 892 304
Runyenjes 752 892 395
Miandari 794 763 921
Chuka 752 892 296

How To Join County Sacco And Become A Member

Any individual either employed or in business and is above the age of 18 years is open to join county sacco

Categories: County Sacco


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