Chai Sacco Society Ltd., established in 1973, stands as one of Kenya’s most prominent deposit-taking Savings and Credit Cooperative Societies (Saccos). With a mission to empower its members economically, socially, and financially, Chai Sacco has grown into a financial powerhouse with an asset base exceeding KSh 4.34 billion. Initially formed to serve employees of the Kenya Tea Development Agency (KTDA) and its affiliates, the Sacco has expanded its membership to include farmers, businesspeople, salaried employees, groups, and Kenyans in the diaspora. This article provides a comprehensive overview of Chai Sacco’s branches, contact details, services, and how it continues to drive financial inclusion across Kenya.
Overview of Chai Sacco: A Legacy of Financial Empowerment
Chai Sacco has been a cornerstone of financial empowerment in Kenya for over five decades. Regulated by the Sacco Societies Regulatory Authority (SASRA), it is ISO 9001:2015 certified, reflecting its commitment to quality service delivery. The Sacco’s vision is to be a world-class cooperative championing socio-economic transformation, while its mission focuses on empowering members through innovative financial products and services.
With six main branches and several satellite offices strategically located across Kenya, Chai Sacco ensures accessibility for its diverse membership base. The Sacco leverages technology, including mobile banking and a members’ portal, to provide seamless services, making it a preferred choice for Kenyans seeking affordable loans, competitive savings products, and reliable financial solutions.
Why Choose Chai Sacco?
- Diverse Membership: Open to individuals, groups, businesses, and diaspora Kenyans.
- Wide Range of Products: Offers tailored loan and savings products for various financial needs.
- Technology-Driven: Features mobile banking (*346#) and an online portal for easy access.
- Strong Asset Base: Over KSh 4.34 billion in assets, ensuring financial stability.
- Nationwide Reach: Branches and satellite offices across urban and rural Kenya.
Chai Sacco Branch Network: Locations and Contacts
Chai Sacco’s branch network is designed to bring financial services closer to its members. Below is a detailed list of its six main branches and satellite offices, complete with contact details for easy access.
1. Nairobi Branch
- Location: Chai House, Koinange Street, opposite City Market, Ground and Mezzanine Floor, Nairobi
- Phone Numbers: 0709 808 102, 0709 808 103
- Email: Nairobi@chai-sacco.co.ke
- Why It Matters: As the headquarters, the Nairobi branch serves as the administrative and financial hub, catering to members in the capital and surrounding areas. Its central location ensures easy access for urban professionals and businesses.
2. Mombasa Branch
- Location: MKU Plaza, Ground Floor, Nkurumah Road, Mombasa
- Phone Number: 0709 808 165
- Email: Mombasa@chai-sacco.co.ke
- Why It Matters: Located in Kenya’s coastal hub, this branch supports members in Mombasa and the surrounding region, offering full-service financial solutions for coastal businesses and residents.
3. Litein Branch
- Location: Next to Bureti Book Centre, Litein
- Phone Number: 0709 808 158
- Email: litein@chai-sacco.co.ke
- Why It Matters: Serving the agricultural heartland of Kericho County, the Litein branch supports farmers and small businesses with tailored financial products.
4. Kisii Branch
- Location: Kwanza Place, 1st Floor, Kisii
- Phone Number: 0709 808 180
- Email: Kisii@chai-sacco.co.ke
- Why It Matters: This branch caters to members in Kisii and surrounding areas, providing accessible financial services in a region known for its vibrant agricultural and commercial activities.
5. Silibwet Branch
- Location: Uchumi Plaza, Ground Floor, Silibwet
- Phone Number: 0709 808 159
- Email: Not provided
- Why It Matters: Located in Bomet County, this branch serves rural members, particularly those in tea-growing regions, fostering financial inclusion in underserved areas.
6. Nkubu Branch
- Location: Next to Equity Bank, Nkubu
- Phone Number: 0709 808 182
- Email: Nkubu@chai-sacco.co.ke
- Why It Matters: Situated in Meru County, the Nkubu branch supports members in the Mount Kenya region, offering services to farmers, traders, and professionals.
Satellite Offices
Chai Sacco extends its reach through satellite offices in rural and semi-urban areas, ensuring financial services are accessible to all. These offices include:
- Olenguruone: 0709 808 163
- Othaya: 0709 808 213
- Kutus: 0709 808 211
- Kangari: 0709 808 215
- Kapsabet: 0709 808 220
- Nyamira: 0709 808 217
Head Office Contact Details
- Address: Chai House, Koinange Street, opposite City Market, P.O. Box 278-00200, City Square, Nairobi, Kenya
- Mobile: 0709 808 000, 0709 808 100
- Email: info@chai-sacco.co.ke
- Website: www.chai-sacco.co.ke
These branches and satellite offices ensure that Chai Sacco remains a vital financial partner across Kenya, from urban centers like Nairobi and Mombasa to rural areas like Silibwet and Olenguruone.
Financial Products and Services Offered by Chai Sacco
Chai Sacco offers a diverse range of financial products tailored to meet the needs of its members. These products are designed to promote savings, provide affordable credit, and support long-term financial goals.
Savings Products
Chai Sacco encourages disciplined saving through various accounts:
- Akiba Jipange Savings Account: A flexible savings account with competitive interest rates, ideal for short-term goals.
- Fixed Deposit Account: Offers higher interest rates for funds locked in for a fixed term, perfect for long-term savings.
- Toto Junior Account: Designed for children, promoting early financial literacy and savings for future needs.
- Sherehe Account: Helps members save for special occasions like weddings or holidays.
- Investment Account: Supports members in accumulating funds for significant investments, such as property or business ventures.
Loan Products
Chai Sacco’s loan products are designed for flexibility and affordability, catering to both emergency needs and long-term investments:
- Personal Loans: Includes development loans, salary advances, and emergency loans with competitive interest rates (typically 1% per month on a reducing balance).
- Business Loans: Supports entrepreneurs with working capital, asset finance, and trade finance.
- Mortgage Loans: Offered in partnership with the Kenya Mortgage Refinance Company (KMRC) for homeownership.
- Agricultural Loans: Tailored for farmers, particularly those in tea-growing regions, to support farm inputs and equipment.
Additional Services
- Members’ Portal: Available at https://portal.chai-sacco.co.ke/chaisaccomember/, allowing members to monitor accounts and apply for services online.
- Welfare Services: Includes insurance and emergency funds to support members in times of need.
- Dividend and Interest Payments: Chai Sacco offers competitive dividends on share capital and interest on savings, enhancing member returns.
These products make Chai Sacco a one-stop financial institution for Kenyans seeking to save, borrow, and invest.
How to Join Chai Sacco
Joining Chai Sacco is straightforward and open to a wide range of individuals and groups. Membership categories include:
- Individual Membership: Requires a completed application form, national ID or passport, KRA PIN, and passport photo.
- Group Membership: Needs a registration certificate, group meeting minutes, group constitution, and KRA PINs of signatories.
- Corporate Membership: Requires directors’ resolution, certificate of incorporation, memorandum and articles of association, and KRA corporate PIN.
To join, visit any Chai Sacco branch or satellite office, or contact the head office for guidance. The Sacco’s inclusive approach ensures that farmers, businesspeople, salaried employees, and diaspora Kenyans can benefit from its services.
The Role of Chai Sacco in Kenya’s Financial Landscape
Saccos play a critical role in Kenya’s economy, managing over KSh 1.2 trillion in assets and serving more than 6 million members nationwide. Chai Sacco stands out as a leader in this sector, contributing to financial inclusion and economic growth. According to the SASRA Supervision Annual Report 2023, deposit-taking Saccos like Chai Sacco are pivotal in providing affordable credit and savings options, particularly in rural areas where traditional banks may have limited reach.
Key Contributions of Chai Sacco
- Financial Inclusion: By operating in rural areas like Litein and Silibwet, Chai Sacco supports underserved communities, particularly in agriculture-driven regions.
- Economic Empowerment: Affordable loans and savings products enable members to start businesses, educate their children, and invest in property.
- Technology Adoption: Mobile banking and online portals make financial services accessible anytime, anywhere.
- Community Development: Through welfare services and group membership, Chai Sacco fosters community-driven economic growth.
Why Chai Sacco Stands Out Among Kenyan Saccos
Compared to other leading Saccos like Stima Sacco (KSh 53.8 billion asset base) and Amica Sacco (KSh 6.45 billion), Chai Sacco’s focus on tea-growing regions and its extensive satellite network give it a unique edge. Its commitment to technology, ISO certification, and SASRA regulation further enhance its credibility and reliability.
Competitive Advantages
- Affordable Loan Rates: Loans at 1% per month on a reducing balance are competitive compared to commercial banks (often 18% p.a.).
- Rural Reach: Satellite offices in areas like Olenguruone and Nyamira ensure accessibility for rural members.
- Member-Centric Approach: Welfare services and flexible products prioritize member needs.
- Strong Governance: SASRA regulation and ISO certification ensure transparency and accountability.
Challenges and Opportunities for Chai Sacco
Like other Saccos in Kenya, Chai Sacco faces challenges such as competition from mobile lenders like Tala and the need for continuous technological innovation. However, opportunities abound:
- Digital Expansion: Enhancing mobile and online banking to attract younger members.
- Diaspora Engagement: Expanding services for Kenyans abroad to tap into the 3 million-strong diaspora market.
- Partnerships: Collaborating with organizations like the Kenya Mortgage Refinance Company to offer innovative products.
By addressing these challenges and leveraging opportunities, Chai Sacco is well-positioned to remain a leader in Kenya’s Sacco sector.
Frequently Asked Questions About Chai Sacco
- How can I contact Chai Sacco?
- Reach the head office at 0709 808 000 or info@chai-sacco.co.ke. Branch-specific contacts are listed above.
- What are the requirements to join Chai Sacco?
- Individuals need a national ID, KRA PIN, and passport photo. Groups and corporates require additional documentation like registration certificates.
- What loan products does Chai Sacco offer?
- Personal, business, mortgage, and agricultural loans with competitive interest rates.
- Where are Chai Sacco’s branches located?
- Main branches are in Nairobi, Mombasa, Litein, Kisii, Silibwet, and Nkubu, with satellite offices in six other locations.
Chai Sacco Society Ltd. remains a beacon of financial empowerment in Kenya, offering accessible, affordable, and innovative financial solutions to a diverse membership base. With its extensive branch network, robust digital platforms, and commitment to member welfare, Chai Sacco is a trusted partner for Kenyans seeking to achieve their financial goals. Whether you’re in Nairobi’s bustling capital, the coastal city of Mombasa, or the rural tea fields of Litein, Chai Sacco’s branches and satellite offices ensure that financial services are within reach.
For more information, visit www.chai-sacco.co.ke or contact the head office at Chai House, Koinange Street, Nairobi. Join Chai Sacco today and take the first step toward financial freedom and economic empowerment.
