How to Join Mwalimu National Sacco [2022]

How to Join Mwalimu National Sacco

If you are looking for one of the most trusted Saccos in Kenya, think of Mwalimu National Sacco. It is arguably one of the largest Sacco in Africa, with its membership drawn from Kenyan teachers nationwide. Apart from its main aim of enabling Kenyan teachers to obtain affordable, reliable, and convenient loans, it provides members with some of the best dividends.

Mwalimu National Sacco (majorly referred to as Mwalimu Sacco) was formed in 1974 and currently has over Ksh46.2 billion assets. By 2013 the Sacco was the largest in Kenya, with an excess of over 58 000 members. It boasts branches across Kenya, in the major cities like Kisumu, Mombasa, Eldoret, Nakuru, Meru, Kitui, Kisii, etc.

Who can Join Mwalimu National Sacco

Before you get the answer to how you can join the Sacco, it is good to know the different categories that can join Mwalimu Sacco. The Sacco is predominantly owned by teachers, with two classes–Class A and B. 

The Class A members mostly comprise the active Teachers Service Commission employees at all levels—primary, secondary, and tertiary learning institutions, plus the non-teaching staff. On the other hand, the Class B members include students undertaking education or related studies in technical colleges and universities under the Ministry of Education. Former members who withdrew their deposits and have not transferred them are also still considered members.

How to become a member of Mwalimu National Sacco

Like any other Sacco, becoming a member of Mwalimu Sacco is less complicated as it needs just the basics like filling out the application form, paying the registration fee, submitting monthly savings, and committing the share capital. Maybe describing them in detail as follows will be of much help.

a) Filling the Application Form

You can either obtain the application form on Mwalimu Sacco’s online portal or pick the hardcopy application form from one of its branches. The form requires your full name, email address, physical address, phone numbers, etc. in addition, you will attach the form a copy of your original ID, three copies of passport size photos, and a copy of a payslip.

b) Paying Registration Fee 

To help process your membership application, you will pay a registration fee. Besides helping in processing your application, the amount also shows your commitment to the Sacco. The admission fee at Mwalimu Sacco amounts to Ksh2,000, which is payable once when submitting the registration form.

c) Submitting the Monthly Subscription 

The core reason for joining a Sacco is to access loans. The monthly subscriptions determine the amount of loan you can be awarded. The higher the savings, the more loans you can acquire—mostly three times your savings. The monthly contribution is affordable at Ksh400 only per month

d) Committing Share Capital

Unlike banks where you remain a customer even if you have saved millions, Saccos gives ownership rights after paying a share capital. With committing Kshs20,000, you become a shareholder of Mwalimu Sacco. The amount is payable once, which can be done in installments. However, the share capital is non-refundable and can only be transferred to another member when you are exiting.

e) Benevolent Amount and Nominee Form

There is also an additional form you should be filling out when joining Mwalimu Sacco called the nominee form. It helps capture the details of the person you would prefer to take your place in the Sacco if you die. On the other hand, the generous amount you pay monthly to help in incase of the death of your next of kin or yours. 

Conditions for Joining Mwalimu Sacco

Mwalimu Sacco has laid down the following conditions for those who want to be members

  1. You must be a citizen or ordinary citizen of Kenya.
  2. You should have attained 18 years old and above
  3. You must have a good character
  4. You must bear no record of a criminal act
  5. You must not be insane 


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