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

How To Join Hazina Sacco [2022]


Image courtesy: The Star

Hazina Sacco is one of the earliest entries in the Kenyan financial market, being established around 1971. The main agenda of forming the Sacco was to encourage saving among its members. It also allows members to get assets financing, business loans, development loans and short-term loans through ussd loans

It is trusted by many people across the country, due to its professionalism in its operations. Hazina has many branches, from Nairobi, Kisumu, to Mombasa, among other major towns.

Who can Join Hazina Sacco

Before proceeding to how to join Hazina, you would want to hear who or which category of people, and institutions are eligible to become members. Membership is open to several entities, including

  • Private sector—individuals and private organizations
  • Employees of county governments
  • Parastatals and national government ministries
  • Different development groups such as women and youth groups.
  • Cooperative societies and chamas
  • Close family members of the registered Sacco members.

The Process of Joining Hazina Sacco

a) Apply for membership

If you have the intention of joining the Sacco, make the desire practical by tendering your application. You can do it by filling out an application form, which can be obtained online or at any nearest branch. The management will examine your application to determine whether you are eligible to become a member or not.

If your application is approved, you will receive an acknowledgment and deductions will be done on your payroll. Your employer will notify you of the deductions and encourage you to commit to such deductions monthly.

b) Pay the Registration Fees

As you apply for membership, you also commit to one-time entrance fees of Kshs. 1,000. It is a requirement enshrined within the laws of the Sacco—the amount is non-refundable. The fees help in processing your registration and admission to become a member. It also shows your commitment to the affairs of the Sacco.

See also  How to Join Waumini Sacco [2022]

c) Pay Share capital

Share capital gives you the right to become a co-owner or a shareholder in Hazina Sacco. It also contributes to how much loan you can get, apart from affecting the dividend you should expect at the end of the year. Sacco offers one of the most impressive dividends annually.

d) Subscribe to the Monthly Deposit

As you join the Sacco, you shall also commit to submitting a monthly contribution of Kshs1,000. Apart from the monthly contribution forming part of your savings, it also adds up to your eligibility to access the loan and the amount you can borrow.

Principles that Guide Membership of Hazina Sacco

Being a member of Hazina is such a great gain, as it has underlined principles that guide its membership, such as;

  • Members not only get educated on how the Sacco operates but also receive training on how to engage and gain from different development projects, within and outside the Sacco.
  • Membership is voluntary and open—nobody is forced to join, and everything is made open to anybody or institution before they join.
  • Economic affairs of the Sacco are open to every member. Their participation and contribution are appreciated.
  • Hazina Sacco is concerned with the affairs of the general community, as they participate and contribute to anything that affects society.
  • The control of the affairs of the Sacco is democratic. The management plays their role but the members have their way. However, every decision must be guided by the constitution.

Some of the benefits of joining Hazina sacco include; high interests on deposits & dividends on share capital, loan buy-off options from other lenders, 3-day loan processing, loan top-up options, financial literacy trainings through educational programs etc.

How To Join Hazina Sacco As An Individual

In order to become a member of hazina sacco as an individual, you are required to submit the below documents which include;

  • Copy of national ID
  • Copy of current payslip
  • 2 passport size photographs
  • Duly filled membership application form capturing accurate details entered on the 5-key sections which include;
See also  List Of Hazina Sacco Branches & Contacts [2022]

Section A: Personal particulars

This section requires your full name, national ID number, date of birth, physical address, postal address, email address, phone number and the home area chief.

Section B: Employment details

This section requires you to state your employer/organization, phone number, date, state & county of appointment, employer’s email address, terms of employment (permanent & pensionable) or temporary/contract and gross income per month.

Section C: Business details

This section is only applicable to business owners and requires the name, nature, physical address and phone number of the business.

In addition, state the business’ source of income (salary/commissions/professional fees/self employment), gross income per month.

Section D: Next of kin

This section entails the details of a contact person who can be contacted in the event that you are unreachable. Such details include: full name, relationship, address, phone number and email address.

Section E: Authority for salary deductions

This section contains the amount of money to be deducted from one’s salary per month and the date in which it should be effected.

  • Duly filled nominee form containing accurate details of nominee(s) who will inherit your shares/deposits. This will include their names, relationship and percentage of shares/deposits to be assigned.

How To Join Hazina Sacco As A Chama/Group Or Corporate

Membership via this category must meet the below group eligibility requirements which include:

  1. The group must be recognized as a Kenyan entity
  2. The group should possess a minimum of at least 5 members and a maximum of 100 members, 70% of whom should be below the age of 35 years
  3. All groups should consist of members who are18 years of age and above.
  4. The group must have been operational for a period of not less than 3 months since inception and should have a physical office.
  5. All group members must be voluntary signatories and must participate in all proposed training.
  6. All groups must open and maintain an active hazina account through which loans will be deposited.
  7. All groups must provide minutes of group meetings held within the last 90 days as well as the proposed loan projects.
  8. All groups must have at least 3 official representatives participating on the group’s behalf to the sacco.
  9. All groups must not engage in politics, religion or ethnicity.
  10. All groups must assent to Hazina sacco following up on approved loan projects for evaluation and performance monitoring.
  11. All group members must be willing to act as guarantors.
  12. The group must save for a period of at least 6 months before making any loan application
  13. All group members may join the sacco in an individual capacity and access the relevant services.
  14. All group members must sign consent rights forms to their name(s), logos or images for advertisement purposes.
  15. All groups must cooperate with all the relevant government authorities in the empowerment of youth and women projects undertaken within a given area.
See also  How to Join Waumini Sacco [2022]

In addition to the above, the group is also required to submit below documents

  • Group constitution
  • Group registration certificate
  • Group minutes detailing all the signatories approving the membership application to hazina sacco
  • Copies of national IDs for both group members and officials
  • Passport photographs for group officials
  • KRA PINs for group officials
  • Home address of each group member
  • Signatures for 3 group officials and 1 group member
  • Duly filled group membership form detailing the group details such as group name, postal address & code, town, phone number, email address, date of registration and number of members.

Categories: Hazina Sacco


1 reply


  1. List Of Best Saccos In Kenya [2022] - Konvigilante

Leave a Reply

%d bloggers like this: