How to Join Ukulima Sacco [2022]

How to Join Ukulima Sacco

Apart from being a national Sacco with Headquarters in Nairobi, Ukulima Sacco has branches across the country in the major towns like Nakuru, Eldoret, Kisumu, Mombasa, Embu, and Kisii. Ukulima Sacco started with a humble beginning in 1972 when it was registered and resumed its operations. Because of the quality and reliable services, it has impressively expanded to capture more members.

Though the membership has been open to majorly salaried people, it has since extended its limits to capture and admit members from the business sector, Chamas, Corporations, and people living in the Diaspora. Being registered with SASRA has promoted its reputation to attract a membership of over 41,000 persons across the nation.

Ukulima Sacco offers some enticing products like Development Nominal loans, Saving to cater for education, holidays, business, welfare, junior savings, and Chamas. Deposit boosting and loan top-ups are also some of the services available.

Requirements and Eligibility of Becoming Ukulima Sacco Member

Apart from the primary condition of being a Kenyan Citizen above 18 years of age, any public sector employee, chamas, private sector, and Kenyan in the Diaspora are all eligible and qualified to become members of Ukulima Sacco.

Some of the requirements include;

a) Membership application form

To become a member of Ukulima Sacco, your first step is filling out a membership application form which you can either obtain on the Saccos online portal or get a hard copy from one of the branches countrywide. The form will capture all the crucial details needed for the registration, including your name, phone number, email, physical addresses, etc.

b) Copy of Current Payslip

To validate your ability to pay your monthly savings and services on your loan, the Sacco will request you submit a copy of your current Payslip. This mainly applies to those who expect a salary monthly. But if you are in informal employment, you may be required to attach your last month’s Mpesa statement.

c) Copy of ID and Passport Photo

A copy of your original national identity card will be requested to be attached to the duly filled form for authentication. Also, two passports size photos will be needed for your member’s profile and Sacco identification card.

d) Joining Fee

To help process your payment and show some level of seriousness and commitment, you will pay a joining fee of Ksh1,000. The amount is payable once and is non-refundable.

You can either deliver the form and the attached documents to any Ukulima Headquarter at Ukulima House Nairobi or submit them physically to any branch nearby. Still, you can send them scanned through an email address or send them as a parcel.

e) Monthly Contribution

If you qualify and get submitted to the Sacco, you will make a monthly contribution of Ksh2,500. The remittance is done through the Saccos Mobile App, USSD Code *822#, or the Paybill. The monthly donations make you qualify for loans, which are, in most cases, three times your savings. Loan disbursement takes at least ten days to get processed and disbursed. An emergency loan takes two days.

f) The Share Capital

The share capital is the amount of money you invest into the Sacco. It gives you permanent membership rights in the Sacco—you become co-owner/shareholder. Total share capital in Ukulima Sacco is Kshs20,000—1,000 shares valued at Kshs20. You qualify for annual dividends through the shares, usually at 12%.

In Conclusion

Ukulima Sacco has some of the best laid down procedures for becoming a member, making monthly deposits, and committing share capital. It has since attracted many members from different professions and businesses and Kenyans living in the Diaspora. All have witnessed their savings grow and access to loans getting simpler.



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