Boresha SACCO Society Limited, a leading Savings and Credit Cooperative Society (SACCO) in Kenya, has embraced cutting-edge technology to deliver efficient, accessible, and innovative financial services to its over 100,000 members. With an asset base exceeding Kshs. 11 billion and a network of 19 branches across six counties, Boresha SACCO stands as a tier-one financial institution regulated by the Sacco Societies Regulatory Authority (SASRA). This comprehensive guide explores Boresha SACCO’s electronic channels (e-channels), including the M-Boresha mobile banking platform, Paybill number 545500, ATM SACCO Link Cards, X-Mobi Mobile App, and more. Whether you’re a member looking to manage your savings, repay loans, or pay school fees, this article provides all you need to know about Boresha SACCO’s digital solutions, optimized for convenience and financial empowerment.
Introduction to Boresha SACCO
Founded in 1976 as Baringo Teachers SACCO and rebranded in 2012 to Boresha SACCO, this financial cooperative has grown from a modest group of 10 members to a powerhouse serving salaried employees, farmers, business owners, corporate entities, and diaspora members. Headquartered at Teachers Plaza in Eldama Ravine, Baringo County, Boresha SACCO operates under the motto “United We Prosper ~ Pamoja Twastawi.” Its mission is to mobilize savings and provide quality, affordable financial solutions, driven by core values of integrity, customer focus, innovation, and professionalism.
Boresha SACCO’s adoption of technology has revolutionized how members access financial services, making transactions seamless, cost-effective, and accessible from anywhere in Kenya. With tools like the M-Boresha USSD platform (*434#), Paybill 545500, and the X-Mobi Mobile App, members can manage their accounts, apply for loans, and pay bills at their convenience. This article delves into each e-channel, explaining how to use them, their benefits, and their role in promoting financial inclusion across Kenya.
Key Highlights of Boresha SACCO
- Established: August 31, 1976
- Membership: Over 100,000 members
- Asset Base: Kshs. 11 billion (as of 2024)
- Share Capital: Kshs. 6.1 billion
- Savings/Deposits: Kshs. 6.9 billion
- Loan Portfolio: Kshs. 9.1 billion
- Branches: 19 across Baringo, Nakuru, Uasin Gishu, Nandi, Laikipia, Elgeyo-Marakwet, and Trans-Nzoia counties
- Digital Platforms: M-Boresha (*434#), Paybill 545500, X-Mobi Mobile App, ATM SACCO Link Cards
- Regulation: Licensed by SASRA for deposit-taking business
Boresha SACCO’s E-Channels: A Gateway to Modern Banking
Boresha SACCO has integrated advanced technology to enhance service delivery, linking its 19 branches to the headquarters in Eldama Ravine through a centralized Wide Area Network (WAN). This system ensures real-time access to customer records, enabling branch officers to serve members efficiently. Below is a detailed breakdown of Boresha SACCO’s e-channels, optimized for user convenience and financial empowerment.
1. M-Boresha Mobile Banking (*434#)
The M-Boresha mobile banking platform, accessible by dialing *434#, is a cornerstone of Boresha SACCO’s digital transformation. Launched to enhance member convenience, this USSD-based service allows members to perform a wide range of transactions without visiting a branch. The platform is free, cost-effective, and accessible on any mobile phone, making it ideal for members in remote areas.
Features of M-Boresha
- Account Management: Check account balances, savings, and loan statuses in real-time.
- Withdrawals: Withdraw funds from your Front Office Services Activity (FOSA) account to your M-Pesa wallet.
- Loan Applications: Apply for mobile loans and advances instantly.
- Deposits and Loan Repayments: Deposit funds to your account or repay loans directly.
- Inter-Account Transfers: Transfer money to another member’s account within the SACCO without incurring M-Pesa charges.
- Mini-Statements: Access transaction history for quick reference.
- School Fees Payments: Pay school fees directly from your account.
How to Use M-Boresha
- Dial *434# on your mobile phone.
- Follow the on-screen prompts to register or log in using your member credentials.
- Select the desired service (e.g., check balance, withdraw funds, or apply for a loan).
- Enter your M-Banking PIN to authorize transactions.
- Receive a confirmation SMS from Boresha SACCO and M-Pesa (if applicable).
Benefits of M-Boresha
- Convenience: Access services anytime, anywhere, without visiting a branch.
- Cost-Effective: No transaction fees for deposits or inter-account transfers.
- Speed: Real-time processing of transactions.
- Accessibility: Works on any mobile phone, no internet required.
- Enhanced Security: PIN-protected transactions ensure safety.
2. Boresha Sacco Paybill Number 545500
Boresha SACCO’s Paybill number 545500 is a versatile tool for making deposits, loan repayments, and school fees payments via M-Pesa. This service is free of charge, making it an attractive option for members looking to manage their finances efficiently. The Paybill number supports various account types, including FOSA savings, Mzinga Junior accounts, holiday savings, and business collections.
How to Use Paybill 545500
- Access M-Pesa:
- Open the M-Pesa menu via the SIM toolkit or My Safaricom app.
- Select “Lipa na M-Pesa” and choose “Paybill.”
- Enter Paybill Number: Input 545500.
- Enter Account Number:
- For FOSA savings, Mzinga Junior, or holiday savings: Use your full FOSA account number.
- For share or deposit top-ups: Use your ID number with the prefix “DE” (e.g., DE12345678).
- For loan repayments: Use your ID number with the appropriate loan product prefix.
- For business payments or school fees: Use the business code or student details (name and admission number).
- Enter Amount: Specify the amount to deposit or pay.
- Confirm Transaction: Enter your M-Pesa PIN and press OK.
- Receive Confirmation: You’ll get an SMS from M-Pesa and Boresha SACCO confirming the transaction.
Benefits of Paybill 545500
- Zero Charges: No fees for deposits or payments.
- Versatility: Supports multiple transaction types, including savings, loans, and school fees.
- Convenience: Available 24/7 via M-Pesa.
- Transparency: Instant confirmation ensures accurate record-keeping.
3. ATM SACCO Link Cards
In partnership with the Co-operative Bank of Kenya, Boresha SACCO issues Visa-branded ATM SACCO Link Cards, allowing members to access funds conveniently at ATMs and point-of-sale (POS) terminals. These cards enhance financial flexibility, especially for members who prefer cashless transactions.
Features of ATM SACCO Link Cards
- Cash Withdrawals: Access funds at Co-operative Bank ATMs, Co-op Kwa Jirani agents, or any Visa-branded ATM.
- POS Transactions: Use the card for purchases at Visa Electron-branded merchants.
- Convenience: Ideal for members on the go, reducing the need to carry cash.
How to Apply for an ATM SACCO Link Card
- Visit any Boresha SACCO branch or contact the call center (+254-0111-043400).
- Complete the ATM card application form, attaching a copy of your national ID.
- Submit the form in person or via email (info@boreshasacco.co.ke).
- Receive your card upon approval, typically issued instantly at select branches.
Benefits of ATM SACCO Link Cards
- Accessibility: Withdraw cash or make payments anytime, anywhere.
- Security: Visa-branded cards offer secure transactions.
- Convenience: Eliminates the need to visit branches for cash withdrawals.
4. X-Mobi Mobile App
The X-Mobi Mobile App, available on the Google Play Store, is Boresha SACCO’s dedicated mobile application for members seeking a user-friendly, digital banking experience. The app complements the M-Boresha USSD platform, offering a graphical interface for managing accounts, loans, and payments.
Features of X-Mobi Mobile App
- Account Management: View account balances, savings, and loan details.
- Fund Transfers: Transfer money to other Boresha SACCO accounts or M-Pesa wallets.
- Loan Applications: Apply for loans and track application status.
- Bill Payments: Pay school fees, utilities, and other bills.
- Mini-Statements: Access transaction history on the go.
- Notifications: Receive real-time updates on transactions and account activities.
How to Download and Use X-Mobi
- Visit the Google Play Store and search for “X-Mobi Boresha SACCO.”
- Download and install the app.
- Register using your member ID and national ID number.
- Log in with the credentials provided by Boresha SACCO.
- Explore the app’s features to manage your finances.
Benefits of X-Mobi
- User-Friendly Interface: Intuitive design for easy navigation.
- Real-Time Access: Monitor and manage accounts instantly.
- Convenience: Perform transactions from your smartphone.
- Security: Encrypted transactions protect your data.
5. Member Recruitment App
Boresha SACCO’s Member Recruitment App streamlines the process of onboarding new members, making it easier for existing members to refer others. The app enhances the SACCO’s outreach efforts, particularly in rural and underserved areas.
Features of the Member Recruitment App
- Online Registration: New members can sign up from their mobile devices.
- Referral System: Existing members can refer new members and earn rewards.
- Document Submission: Upload required documents (e.g., ID, KRA PIN) digitally.
- Real-Time Processing: Applications are processed quickly for faster onboarding.
How to Use the Member Recruitment App
- Download the app from the Google Play Store or access it via the SACCO’s website.
- Log in as an existing member or register as a new member.
- Complete the application form with personal details and required documents.
- Submit the application and await confirmation from Boresha SACCO.
Benefits of the Member Recruitment App
- Convenience: Simplifies the membership process.
- Inclusivity: Encourages new members from diverse backgrounds.
- Efficiency: Reduces paperwork and processing time.
6. Members Portal
The Boresha SACCO Members Portal, accessible via www.boreshasacco.co.ke, provides a web-based platform for members to manage their accounts. The portal is particularly useful for members with internet access who prefer a desktop or browser-based interface.
Features of the Members Portal
- Account Access: View savings, loans, and share balances.
- Loan Applications: Apply for loans and track repayment schedules.
- Statements: Download detailed account statements.
- Profile Management: Update personal details and contact information.
How to Access the Members Portal
- Visit www.boreshasacco.co.ke.
- Click on the “Members Portal” link.
- Log in using your member ID and password (provided upon registration).
- Navigate the portal to access services or update your profile.
Benefits of the Members Portal
- Comprehensive Access: Manage all aspects of your SACCO account online.
- Transparency: View detailed transaction histories.
- Convenience: Access services from any internet-enabled device.
7. Document Management System (DMS)
The Document Management System (DMS) is an internal tool that enhances Boresha SACCO’s operational efficiency by digitizing member records and documents. While not directly accessible to members, the DMS ensures seamless service delivery across branches.
Benefits of the DMS
- Efficiency: Streamlines document processing and retrieval.
- Accuracy: Reduces errors in member data management.
- Real-Time Access: Branch officers can access records instantly via the centralized WAN.
8. Call Centre Solution
Boresha SACCO’s Call Centre Solution provides prompt responses to members’ non-transactional queries via phone, email, SMS, and accredited social media platforms. The call center enhances customer service by addressing concerns quickly and efficiently.
Contact Details
- Phone: +254-0111-043400, +254-720-200689, +254-734-200004
- Email: info@boreshasacco.co.ke
- Social Media: Boresha DT SACCO Society LTD (Facebook)
- Operating Hours: Monday–Friday: 08:00 AM–05:00 PM, Saturday: 08:00 AM–12:00 PM
Benefits of the Call Centre
- Prompt Responses: Quick resolution of queries.
- Multiple Channels: Contact via phone, email, or social media.
- Member Support: Enhances customer satisfaction and trust.
9. School Fees Collection Account
Boresha SACCO’s School Fees Collection Account, accessible via Paybill 545500, allows members to pay school fees directly from their accounts. This service is particularly beneficial for parents and guardians, ensuring timely and secure payments.
How to Pay School Fees
- Access the M-Pesa menu and select “Lipa na M-Pesa.”
- Choose “Paybill” and enter 545500.
- Enter the business code provided by the school, followed by the student’s name and admission number.
- Input the amount and confirm with your M-Pesa PIN.
- Receive a confirmation SMS from M-Pesa and Boresha SACCO.
Benefits of the School Fees Collection Account
- Convenience: Pay fees without visiting a bank or school.
- Security: Transactions are secure and traceable.
- Zero Charges: No fees for school fee payments.
Benefits of Boresha SACCO’s E-Channels
Boresha SACCO’s e-channels have transformed financial services by offering:
- Accessibility: Services are available 24/7, regardless of location.
- Cost Savings: Free deposits and inter-account transfers reduce transaction costs.
- Efficiency: Real-time processing minimizes delays.
- Inclusivity: Digital platforms reach unbanked and rural communities.
- Innovation: Tools like X-Mobi and the Member Recruitment App align with global digital trends.
- Security: Encrypted transactions and PIN protection ensure safety.
Boresha SACCO’s Role in Financial Inclusion
Boresha SACCO’s adoption of technology has significantly enhanced financial inclusion in Kenya. By leveraging e-channels, the SACCO reaches members in remote areas, supports microeconomic growth, and empowers underserved communities. Its recognition as the best cooperative society in Baringo County in 2019 by the Kenya Union of Savings and Credit Cooperative Limited (KUSCCO) highlights its commitment to excellence.
Key Achievements
- Membership Growth: From 10 members in 1976 to over 100,000 today.
- Financial Performance: Paid Kshs. 505.1 million in dividends, rebates, and bonuses in 2022 (13% on share capital, 10% on deposits, 9% on equity shares).
- Digital Transformation: M-Boresha and X-Mobi have increased transaction volumes and member engagement.
- Community Impact: Supports education, agriculture, and small businesses through affordable loans.
How to Join Boresha SACCO
Joining Boresha SACCO is simple and open to individuals, groups, and corporates. Follow these steps:
- Visit www.boreshasacco.co.ke or a nearby branch.
- Download and complete the membership application form.
- Submit the form with a copy of your national ID, KRA PIN, and passport photo.
- Purchase at least one share (Kshs. 100).
- Contribute monthly savings (10% of basic pay for salaried members).
- After three months, contribute Kshs. 500 monthly toward equity shares.
Membership grants access to loans, dividends, welfare benefits, and e-channels, fostering long-term financial security.
Why Choose Boresha SACCO’s E-Channels?
Boresha SACCO’s e-channels stand out due to:
- Convenience: Manage finances from anywhere using *434# or the X-Mobi app.
- Cost-Effectiveness: Zero charges for deposits and inter-account transfers.
- Speed: Real-time transactions enhance efficiency.
- Accessibility: Reach rural and unbanked members.
- Innovation: Aligns with Kenya’s digital economy trends.
Boresha SACCO’s e-channels, including M-Boresha (*434#), Paybill 545500, ATM SACCO Link Cards, X-Mobi Mobile App, and the Members Portal, have redefined financial services in Kenya. These tools offer members unparalleled convenience, cost savings, and access to a wide range of services, from savings and loans to school fee payments. With a strong commitment to financial inclusion and technological innovation, Boresha SACCO remains a trusted partner for Kenyans seeking to save wisely, borrow affordably, and prosper together. Download the X-Mobi app or dial *434# today to experience seamless banking with Boresha SACCO.
