Qwetu Sacco, formerly known as Taita Taveta Teachers Sacco, has grown into one of the largest deposit-taking Saccos in Kenya since its establishment in 1968. With an asset base of over Ksh 3.22 billion and a membership exceeding 40,000, Qwetu Sacco serves a diverse clientele including teachers, government ministries, business owners, and the county government. The Sacco provides a comprehensive range of financial services through its Front Office Service Activity (FOSA) and Back Office Service Activity (BOSA) products.
List Of Qwetu Sacco Products
a) Front Office Service Activity (FOSA) Products
Qwetu Sacco offers various FOSA savings accounts tailored to meet the needs of individuals, farmers, groups, and associations. Some of the notable FOSA products include:
- Ordinary Savings Account
- Minimum operating balance: Ksh 1,000
- Salary & pension processing
- Access to FOSA advances and loans
- Qwetu Farmers Account
- Minimum operating balance: Ksh 500
- Farmers’ payout processing
- Access to agri-business loans
- Qwetu Chama Account
- Minimum operating balance: Ksh 1,000
- Group registration certificate required
- Access to microcredit loans and up to 75% LPO financing
- Qwetu Association Account
- Minimum operating balance: Ksh 1,000
- Certificate of registration required for associations
- Qwetu Jibambe Account
- Earns 6% p.a. interest
- No minimum operating balance
- Maximum withdrawal twice per year
- Toto wa Qwetu Account (Children’s Account)
- Free branded piggy bank
- Earns 6% p.a. interest
- Minimum operating balance: Ksh 1,000
- Maximum withdrawal three times per year
- Qwetu Super Deposits
- Earns 10% p.a. interest
- Redeemable anytime
- Minimum opening balance: Ksh 2,000
- Retirement Savings Plan
- Minimum contribution: Ksh 500 per month
- Earns 10.5% interest p.a.
- Redeemable upon retirement
- Fixed Deposits
- Minimum amount: Ksh 10,000
- Minimum period: 3 months
- Earns up to 9.5% p.a. interest
- Emergency Funds
- Savings for unforeseen eventualities
- Redeemable anytime
b) Back Office Service Activity (BOSA) Products
BOSA accounts focus on providing long-term financial services, including personal and development loans, designed to suit different needs.
- BOSA Personal Loans
- Interest: 1% per month on a reducing balance
- Loan repayment period: 6–84 months
- Multiplier: Up to 5 times of long-term deposits
- SPIF Loan
- Interest: 1% on a reducing balance
- Loan repayment period: up to 36 months
- Must have SPIF shares
- Qwetu Super Loan
- Interest: 1.25% on reducing balance
- Loan repayment period: 37–72 months
- School Fees Loan
- Interest: 1% on a reducing balance
- Loan repayment period: 6–12 months
- Processed immediately
- Development Loan
- Interest: 1.5% on reducing balance
- Loan repayment period: 73–84 months
- Minimum loan: Ksh 500,000
- Micro SPIF Loan
- Interest: 1.5% per month
- Loan repayment period: 6–48 months
- Multiplier: 5 times SPIF shares
- Wezesha Biashara Loan
- Interest: 1% per month
- Loan repayment period: 6–36 months
- Minimum loan: Ksh 300,000
- Multiplier: 5 times deposits
- Kilimo Biashara Loan
- Loan repayment period: 6–36 months
- Designed specifically for agri-business
- Multiplier: 5 times deposits
Micro-Credit Services
Qwetu Sacco also offers micro-credit services including Boda Boda loans, business group loans, and agriculture loans with tailored repayment plans and low-interest rates.
Key Micro-Credit Services:
- Boda Boda Loans
- Interest: 1.5% per month
- Loan multiplier: 3 to 5 times deposits
- Repayment period: up to 12 months
- Kilimo Biashara Loan
- Interest: 1.5% per month
- Loan multiplier: 5 times deposits
- Minimum repayment period: 6 months
- Group Formation Loan
- Designed for groups with at least 7 members
- Group constitution and registration required
- Access to higher loan amounts based on group savings
List Of Qwetu Sacco Branches And Contacts
- Qwetu Sacco Head Office
- Location: Tatecoh Building, Wundanyi Town, Taita Taveta County
- Phone: +254 728 957 585 / +254 728 536 169
- Email: info@qwetusacco.com
- Voi Branch
- Contact: +254 728 483 398
- Mwatate Branch
- Contact: +254 716 195 625
- Taveta Branch
- Contact: +254 728 483 321
Qwetu Sacco has solidified its position as a reliable financial partner for individuals and businesses across the Taita-Taveta region and beyond. With a broad range of loan and savings products, the Sacco continues to empower its members by providing financial support for personal development, business growth, education, and agriculture. If you’re looking to join or access their services, you can visit one of their branches or contact them through the provided details.
