In Kenya’s vibrant financial ecosystem, Chuna Sacco, established in 1976, has emerged as a cornerstone for financial empowerment, offering innovative savings and loan products to its members. With its headquarters at the University of Nairobi, Harry Thuku Road, Chuna Sacco provides accessible, member-focused services through modern communication channels like USSD *670#, M-Pesa Paybill 561999, and dedicated contact points. This comprehensive guide dives into Chuna Sacco’s contact details, membership process, loan products, savings accounts, and more.
Introduction to Chuna Sacco
Chuna Sacco, an acronym for CHUO KIKUU CHA NAIROBI (University of Nairobi), was registered on March 24, 1976, under the Co-operatives Act as CS/2466 and is regulated by the Sacco Societies Regulatory Authority (SASRA). Initially founded to serve University of Nairobi employees, it now operates with an open common bond, welcoming members from all corners of Kenya. With an asset base exceeding Ksh 1.7 billion as of 2020, Chuna Sacco combines Back Office Service Activities (BOSA) and Front Office Service Activities (FOSA) to deliver tailored financial solutions, including savings accounts, mobile banking, and a variety of loan products.
Why Choose Chuna Sacco?
- Trusted Legacy: Over four decades of financial expertise.
- Nationwide Accessibility: Open to all Kenyan citizens, regardless of residence.
- Innovative Services: Offers mobile banking, instant loans, and seamless M-Pesa integration.
- Member-Centric: Focuses on promoting socio-economic welfare through affordable financial services.
Chuna Sacco Contact Information
Effective communication is key to accessing Chuna Sacco’s services. The SACCO provides multiple channels to ensure members and prospective members can get in touch easily.
Official Contact Details
- Physical Address: University of Nairobi, Harry Thuku Road, Nairobi, Kenya
- Postal Address: P.O. Box 30197 – 00100, Nairobi
- Phone Numbers:
- +254 705 951 672
- +254 794 87 50 28
- +254 758 111 222
- Email Addresses:
- For general inquiries: chunasacco@uonbi.ac.ke
- For credit/loan queries: loans.chuna@uonbi.ac.ke
- Additional emails: chunasacco@yahoo.com, chunafosa@yahoo.com, fosa.chuna@uonbi.ac.ke
- Operating Hours:
- Monday to Friday: 8:00 AM – 5:00 PM
- Saturday and Sunday: Closed
- Website: chunasacco.co.ke
- Online Membership Application: applications.chunasacco.co.ke
How to Reach Chuna Sacco
- Phone: Call any of the listed numbers for immediate assistance on membership, loans, or account inquiries.
- Email: Use chunasacco@uonbi.ac.ke for general questions or loans.chuna@uonbi.ac.ke for loan-specific queries.
- Online Portal: Apply for membership or update biodata via biodata.chunasacco.co.ke.
- Physical Visit: Visit the SACCO’s offices at the University of Nairobi’s School of Engineering compound for in-person support.
Joining Chuna Sacco: Membership Process
Chuna Sacco’s open bond policy allows any Kenyan citizen to join, making it one of the most inclusive SACCOs in the country. The membership process is streamlined, with both online and offline options available.
Steps to Become a Member
- Visit the Application Portal: Go to applications.chunasacco.co.ke for online applications.
- Complete the Application Form: Provide personal details, including your National ID or valid passport, and membership number (for existing members updating details).
- Submit Required Documents:
- Copy of National ID or valid passport.
- Recent passport-size photo.
- Proof of income (for employed applicants).
- Pay Membership Fees: A one-time entrance fee of Ksh 1,000 is required, as per SACCO by-laws.
- Verification: Receive an SMS with your Chuna Membership Number within 5 minutes for online applications or 1 hour for hardcopy submissions.
- Start Saving: Begin with a minimum monthly contribution of Ksh 500 to activate your account.
Membership Benefits
- Access to affordable loan products like M-Chuna and Emergency Loans.
- Competitive interest rates on savings accounts (minimum 10% annually).
- Ability to use mobile banking via USSD *670# and M-Pesa Paybill 561999.
- Financial advisory services to support prudent decision-making.
Chuna Sacco Loan Products
Chuna Sacco offers a diverse range of FOSA loan products designed to meet various financial needs, from short-term advances to longer-term financing.
1. Salary In Advance
- Maximum Amount: 60% of basic salary.
- Repayment Period: 12 months.
- Eligibility: Member’s salary must pass through FOSA for at least 12 months.
- Interest Rate: 10% upfront.
- Processing Time: Within 24 hours.
- Features:
- Adheres to the one-third rule (loan repayments cannot exceed one-third of monthly salary).
- Ideal for meeting short-term financial obligations like rent or medical bills.
- Application: Download the form from chunasacco.co.ke.
2. Salary Advance
- Maximum Amount: 80% of net salary.
- Repayment Period: 1 month.
- Eligibility: Salary must pass through FOSA for at least 3 months.
- Processing Time: Within 3 hours.
- Features:
- Quick access to funds for urgent needs.
- Fully recovered within one month.
- Application: Download the form from the SACCO’s website.
3. FOSA Loan
- Maximum Amount: Ksh 300,000.
- Repayment Period: 12 months.
- Interest Rate: 13% per annum.
- Eligibility: Not pegged to deposit contributions but based on salary.
- Processing Time: Within 24 hours.
- Features:
- Adheres to the one-third rule.
- Top-up option available with a 10% clearance fee on outstanding balance.
- Application: Available online or at Chuna Sacco offices.
4. Emergency Loan (20 Months)
- Maximum Amount: Ksh 300,000.
- Repayment Period: 20 months.
- Interest Rate: 3% per month (amortized).
- Processing Time: Within 24 hours.
- Features:
- Designed for urgent financial needs like medical emergencies.
- Adheres to the one-third rule.
- Application: Download the form from chunasacco.co.ke.
5. Karibu EMG Loan
- Maximum Amount: Ksh 100,000.
- Repayment Period: 12 months.
- Eligibility: Designed for new SACCO members.
- Features:
- One-third of the loan is deducted as deposits, plus Ksh 5,000 for share capital.
- Fully secured with guarantors.
- Competitive interest rate.
- Application: Download the form from the SACCO’s website.
6. M-Chuna Loan
- Access: Via mobile banking (USSD *670#).
- Features:
- Instant loan disbursement to M-Pesa or SACCO account.
- Designed for quick financial needs with minimal paperwork.
- Eligibility based on savings history and creditworthiness.
Additional Loan Features
- Top-Up Option: Members can top up FOSA loans and emergency loans with a 10% clearance fee on the outstanding balance.
- External Loan Clearance: Use Chuna loans to clear external debts (e.g., bank loans) with a 10% clearance fee.
- Collaboration with Co-operative Bank: Offers ATM and mobile banking services for enhanced accessibility.
Chuna Sacco Savings Accounts
Chuna Sacco’s FOSA savings accounts cater to diverse member needs, offering flexibility and competitive interest rates.
1. Education Savings Account
- Minimum Contribution: Ksh 500 monthly.
- Withdrawal: Up to three times per year.
- Interest Rate: Minimum 10% annually.
- Features: Designed to help members save for educational expenses like school fees.
- Application: Download the form from chunasacco.co.ke.
2. Holiday Savings Account
- Minimum Contribution: Ksh 500 monthly.
- Withdrawal: Up to three times per year.
- Interest Rate: Minimum 10% annually.
- Features: Ideal for saving for vacations or festive seasons.
- Application: Download the form from the SACCO’s website.
3. Junior Savings Account
- Minimum Contribution: Ksh 500 monthly.
- Withdrawal: Up to three times per year.
- Interest Rate: Minimum 10% annually.
- Features: Tailored for parents saving for their children’s future.
- Application: Download the form from chunasacco.co.ke.
4. FOSA Ordinary Account
- Minimum Balance: Ksh 500.
- Features:
- No ledger or maintenance fees.
- No withdrawal limits.
- SMS notifications for every transaction.
- Application: Download the form from the SACCO’s website.
5. Comrade Savings Account
- Target Audience: Students at the University of Nairobi.
- Features:
- No minimum balance required.
- Access to credit facilities with a copy of student ID.
- Competitive interest rates on savings.
- Application: Available for student groups and individuals.
Mobile Banking with Chuna Sacco
Chuna Sacco’s mobile banking platform, accessible via *USSD 670# and M-Pesa Paybill 561999, allows members to manage their finances remotely. This service is a game-changer in Kenya’s SACCO sector, aligning with the country’s leadership in mobile money solutions.
Key Mobile Banking Services
- Balance Enquiry: Check savings or loan balances.
- Cash Withdrawals: Transfer funds to M-Pesa.
- Deposits and Payments: Use Paybill 561999 for savings or loan repayments.
- Loan Applications: Apply for M-Chuna or other loans.
- Funds Transfer: Move money between accounts or to other members.
How to Register for Mobile Banking
- Download and complete the Mobile Banking Application Form from chunasacco.co.ke.
- Submit the form to chunasacco@uonbi.ac.ke or at the SACCO’s offices.
- Receive confirmation and start transacting via *670#.
Security and Member Support
Chuna Sacco prioritizes member security and satisfaction through:
- PIN Protection: For all USSD transactions.
- SMS Notifications: Real-time updates on account activity.
- Data Privacy: Compliance with Kenya’s Data Protection Act.
- Responsive Support: Contact the SACCO via email, phone, or in-person visits for prompt assistance.
Tips for Safe Banking
- Never share your PIN or account details.
- Verify transaction details before confirming.
- Report suspicious activity to chunasacco@uonbi.ac.ke immediately.
Comparing Chuna Sacco with Other SACCOs
Chuna Sacco competes with other leading SACCOs like Hazina Sacco, Kenversity Sacco, and Ushuru Sacco. Here’s a quick comparison:
- Loan Turnaround: Chuna’s 24-hour processing for most loans matches Kenversity Sacco’s same-day approvals and is faster than Hazina Sacco’s 36-month loans.
- Savings Accounts: Chuna’s 10% interest rate on savings accounts is competitive with Ushuru Sacco’s 10.4% in 2024.
- Mobile Banking: Chuna’s USSD *670# and Paybill 561999 are simpler than Hazina Sacco’s multiple Paybill numbers.
Future Prospects for Chuna Sacco
As Kenya’s SACCO sector embraces digital transformation, Chuna Sacco is poised for growth with:
- Mobile App Development: Potential for a dedicated app to complement USSD services.
- Expanded Partnerships: Collaborations with other mobile money platforms like Airtel Money.
- Enhanced Loan Products: Higher loan limits and flexible repayment terms.
- Student-Focused Services: Expansion of Comrade Financial Services for University of Nairobi students.
Chuna Sacco stands out as a reliable and innovative financial partner for Kenyans seeking affordable loans, competitive savings accounts, and seamless mobile banking. With contact points like +254 705 951 672, chunasacco@uonbi.ac.ke, and an easy-to-use online portal at applications.chunasacco.co.ke, joining and engaging with the SACCO has never been easier. Whether you’re looking for a Salary Advance, M-Chuna loan, or a Junior Savings Account, Chuna Sacco offers tailored solutions to meet your needs. By leveraging its robust mobile banking platform and member-centric approach, Chuna Sacco continues to empower Kenyans toward financial independence.
