While having a cup of tea together in 1974, a small group of workers from Unilever was charting and reflecting on their lives and their challenges. They realized most of them had difficulties with personal finances, and the cost of living was rising daily. Then the idea of a savings scheme popped up. And just like that, Kimbo Sacco was born.
The main aim of the Sacco was to promote a saving culture among the employees and give out loans to members for personal development, medical expenses, and school fees, among others. Later in October 2003, the Sacco acquired its current name Maisha Bora Sacco which created an opportunity to accommodate members outside the Unilever company.
The Sacco has grown tremendously to become a self-reliant business enterprise. Both shareholders and members have supported Maisha Bora Sacco until now. It has an asset base of over 4.7 billion and a loan portfolio of 3,01 billion. Apart from an increase in membership and investment, the Sacco has also seen a boost in professional experience, technology, and staff.
How Can You Join Maisha Bora Sacco?
To become a member of this prestigious Sacco, you can choose from two options. You either join through its online platform or make the manual application. Providing options gives convenience to those who would prefer either of them. Follow through to make up your mind on the one you would want to use.
The Online Application
a) Fill out an Online Application Form
One of the strengths Maisha Bora boasts of is its advanced technology. You can file your application by visiting their online portal, https//portal.maishaborasacco.com/Onlineform.aspx. The online form is quite comprehensive, covering your full name, ID or passport number, KRA PIN, nationality, postal address, phone number, and email address, among others.
b) Pay Joining Fee and Share Capital
After filling out the online form, you will be required to pay a joining fee of Ksh2,000 and a share capital of Ksh1,000. To pay the money, you won’t have to submit it physically but to use a playbill number of 600110 using your ID number in place of your account number.
The Manual Application
Apart from the online application, there is an alternative way to apply for membership by either downloading an application form from the Saccos website www.maishaborasacco.com or picking the form from any of the offices.
a) Fill Out a Form and Attach Your Credentials
Unlike the online form, where you fill out everything, in the manual application, you are required to attach a copy of 2 passport-size photos, a copy of your ID, a copy of your KRA pin certificate, and an Mpesa statement of the last one month. They all help in different ways to help process your membership.
While the ID helps validate your account, one of the two passport-size photos helps make your Sacco ID, and one is on your profile. The KRA pin helps monitor and process your taxes, as the Mpesa statement gives your income and transactions approval. You may need to recheck the attachments before submission to ensure you forward the right documents.
b) Pay the Joining Fee and Share Capital
After filling out the form and attaching the required documents, you return it to the Saccos customer care desk. You will also deposit Kshs2,000 for registration plus a share capital amounting to at least Ksh1,000. The share capital earns you ownership rights in the Sacco, while the monthly deposit allows you to borrow from the Sacco. Higher savings will offer you a better higher amount of loans.
Maisha Bora Sacco is one of the best-managed Saccos in Kenya, with their services, levels of management, expectations, and services processing timelines clearly stated. This has won many members in a span of a short time. Joining the Sacco will open a way for your financial development and freedom.
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