Ecopillar Sacco, one of Kenya’s leading deposit-taking savings and credit cooperatives (SACCOs), was officially registered on June 2, 1977. Initially, it served just 163 members, primarily drawn from the teaching fraternity. Over the years, the Sacco has evolved into a trusted financial partner for thousands of Kenyans, helping its members achieve significant milestones such as acquiring assets, financing school fees, initiating development projects, and driving overall economic empowerment.
With an asset base of Ksh. 1.35 billion, Ecopillar Sacco has solidified its position as one of the largest and most successful SACCOs in the country, offering a wide range of financial services to its growing membership. This article outlines the eligibility criteria, membership requirements, and key products available for those interested in joining Ecopillar Sacco.
Ecopillar Sacco Membership Eligibility
Ecopillar Sacco welcomes individuals from a variety of backgrounds, with three main categories of membership: Class A, Class B, and Class C.
- Class A Members:
- Teachers employed by the Teachers Service Commission (TSC).
- Employees of all government ministries.
- County government employees.
- Office of the President (OOP) employees.
- Members of the disciplined forces, including police, military, and correctional officers.
- Class B Members:
- Ecopillar Sacco staff.
- Civil servants working in various government departments.
- Employees of state corporations.
- Staff from sister organizations.
- Members of Parent-Teacher Associations (PTA).
- Board of Management (BOM) interns.
- Class C Members:
- Business people and traders.
- Farmers from different regions.
- Self-employed individuals across various sectors.
This broad membership structure allows individuals from different professional backgrounds and economic sectors to enjoy the financial benefits that Ecopillar Sacco offers.
Ecopillar Sacco Membership Requirements
Joining Ecopillar Sacco is a simple and accessible process. Prospective members need to fulfill the following requirements:
- Membership Application Form – The application form can be obtained from Ecopillar Sacco’s offices or downloaded from their official website.
- No Entrance Fee – Unlike many SACCOs that charge an entry fee, Ecopillar Sacco does not require new members to pay one.
- Copy of National ID – Proof of identification is necessary to join.
- Passport-sized Photograph – This is required for identification purposes.
- Current Payslip – For members contributing through the check-off system, a current payslip must be submitted.
- Filled Nominee Form – This form designates a nominee who will inherit the member’s benefits in the event of death.
- Monthly Contributions – Members are required to make a minimum monthly contribution of Ksh. 2,000.
- Welfare Fund Contribution – Members must contribute Ksh. 200 per month to the welfare fund, which covers funeral expenses for the principal member, their spouse, children, and biological parents.
- Copy of KRA PIN Certificate – For tax compliance purposes, members must provide a copy of their KRA PIN.
With these requirements, Ecopillar Sacco ensures that its members are well-prepared to enjoy the financial benefits the cooperative offers, from savings products to affordable loans.
Ecopillar Sacco Products
Ecopillar Sacco offers a variety of financial products and services through its FOSA (Front Office Services Activity) and BOSA (Back Office Services Activity) accounts. These products cater to individuals, businesses, and other organizations seeking financial solutions to meet their diverse needs.
FOSA Products
Savings Products:
- Savings Account – A basic account for individuals who want to save money securely.
- Children’s Account – Designed to help parents save for their children’s future.
- Fixed Deposit Account – Offers higher interest rates for fixed-term savings.
Loan Products:
- Salary Advance 1 – A quick loan based on your salary, repayable in a short time.
- Salary Advance 2 – Another salary-based advance with more flexible terms.
- Instant Loan – Available to members in need of fast cash.
- Premium Loan – Offers higher borrowing limits with attractive interest rates.
- Karibu Loan – For new members seeking their first loan with the Sacco.
- Micro Loan – Tailored for small-scale businesses and entrepreneurs.
- Smartphone Loan – Allows members to purchase smartphones, improving digital access.
BOSA Products
Loan Products:
- School Fees Loan – Designed to assist parents in paying for their children’s education.
- Emergency Loan – For urgent financial needs such as medical expenses.
- Normal Loan – The standard loan product, available for a variety of personal or business needs.
- Special Loan – A flexible loan offering higher limits for members with a good repayment history.
- Special Development Loan 5 & 6 – Long-term loans aimed at large-scale development projects.
Micro-Credit Products
Micro-Credit Loans:
- Biashara Loan – For business owners looking to expand their operations.
- Ufugaji Loan – Tailored for livestock farmers needing financial support for farming activities.
- Kilimo Loan – For crop farmers who need financing to improve their agricultural output.
ATM Services
Ecopillar Sacco’s ATM services allow members to:
- Withdraw cash.
- Check account balances.
- Print mini-statements.
- Reset PINs.
- Pay for fuel, utility bills, and hospital expenses.
- Offset restaurant and hostel bills.
Benefits of Joining Ecopillar Sacco
- Affordable Loans – Ecopillar Sacco offers loans with low-interest rates, making it easier for members to access credit.
- Convenient Services – The Sacco provides ATM and mobile banking services, allowing members to access their money anytime, anywhere.
- Welfare Fund – The welfare fund ensures that members and their families are financially protected in the event of death.
- Diverse Loan Products – With products tailored for different sectors, from agriculture to business, Ecopillar Sacco caters to a wide range of financial needs.
- No Entrance Fees – New members can join the Sacco without paying an upfront fee, making membership accessible to many.
How to Contact Ecopillar Sacco
If you’re interested in becoming a member or learning more about the services Ecopillar Sacco offers, you can contact them through the following details:
Head Office
- Location: Teachers Plaza, 1st Floor, Makutano Town, Kapenguria.
- Contacts: 020 262 6754 / 0704 541 174.
Lodwar Branch Office
- Location: Opposite KCB Bank, Lodwar.
- Contact: 054 21274.
With its long-standing commitment to financial empowerment and tailored services, Ecopillar Sacco is an ideal partner for anyone looking to enhance their financial well-being, whether you’re a teacher, civil servant, business owner, or farmer.
