Azima Sacco Society Limited, formerly known as Kenya Canners Sacco, is one of Kenya’s longest-standing cooperative societies. Registered in 1966, it has evolved from a small financial institution serving Delmonte (K) employees to a widely recognized Sacco offering a broad range of financial services to the public. The Sacco rebranded to Azima Sacco in 2016 and opened its doors to the general public, allowing more individuals to benefit from its tailored financial services.
With a membership of over 10,344 people, Azima Sacco has a strong presence, with its headquarters in Thika and a branch at Ol Donyo Sabuk. The Sacco offers both BOSA (Back Office Services Activity) and FOSA (Front Office Services Activity) services to its members.
Azima Sacco Membership Eligibility
Azima Sacco is open to anyone who meets the common bond requirement. The majority of its members are still drawn from Delmonte Kenya Limited, which is based in Thika. However, since 2016, membership has been extended to the public, meaning that anyone with an interest in joining the Sacco can apply for membership.
Azima Sacco Membership Requirements
Becoming a member of Azima Sacco is straightforward. Here are the requirements:
- Membership Application Form: Fill out the application form, which can be obtained from the Sacco’s website, headquarters, or any of its branches across the country.
- Registration Fee: Pay a one-off registration fee of Kshs 600.
- Purchase Shares: Members are required to buy 600 shares at a rate of Kshs 20 per share, totaling Kshs 12,000.
- Minimum Deposit Contribution: To maintain active membership, you must contribute a minimum monthly deposit of Kshs 1,000.
Once these requirements are met, you become a full member and can enjoy the numerous benefits and services provided by the Sacco.
Membership Benefits
Being part of Azima Sacco comes with a range of advantages, especially for those seeking long-term financial growth and security. Some of the key benefits include:
- Financial Education: Members are educated on financial management, including budgeting and prudent money handling.
- Better Interest Rates: Both savings and loan interest rates are more competitive than those offered by traditional banks.
- Higher Loans for High Savers: The more you save, the higher the loan amount you can qualify for.
- Dividend Payouts: Members with high savings enjoy substantial dividends.
- Retirement Security: Regular saving with Azima Sacco helps ensure a comfortable retirement.
- Funeral Assistance: In the event of a member’s death, the Sacco supports the family with funds to organize the burial.
Azima Sacco Products
Azima Sacco offers a variety of products and services under both FOSA and BOSA categories, catering to different financial needs.
FOSA Products & Services
- Ordinary Savings Account: Standard savings account for day-to-day financial needs.
- Fixed Deposit: A savings product offering attractive interest for fixed-term deposits.
- Group Savings Account: Designed for groups like chamas and investment clubs.
- Junior Account: A savings account for children to help secure their future.
- Education Account: A specialized savings account aimed at helping members save for educational expenses.
- Holiday Account: Savings for vacations and holidays.
- Microfinance Account: Tailored financial solutions for small businesses and entrepreneurs.
- Okoa Mwezi: A salary advance product for members who need short-term financial relief.
- Super Loan: A high-value loan product for members with significant financial needs.
- Pineapple Loan: A loan designed specifically for Delmonte employees.
- Salary Advance: A quick-access loan based on monthly salary advances.
- Refinancing: Loan refinancing options for members looking to consolidate or restructure their loans.
BOSA Products
- Jijenge Loan: A loan product aimed at helping members build their financial base.
- Jipange Loan: A personal loan for general-purpose needs.
- Jahazi Loan: A short-term loan designed to provide members with quick access to funds.
- Normal Loan: The standard loan product for various financial needs.
- Masomo Loan: Tailored to help members pay for education-related expenses.
- Emergency Loan: A fast-approval loan for urgent financial needs.
Azima Sacco Contacts
For more information or assistance with membership applications and Sacco products, you can contact Azima Sacco through the following:
- Head Office
Location: Azima Plaza Building, Thika Town
Contact: 0714 479 004 - Ol Donyo Sabuk Branch
Contact: 0714 479 004
Azima Sacco continues to provide a stable financial platform for its members, offering competitive products, excellent customer service, and a range of benefits that promote financial growth. Whether you are looking for savings solutions or loan products, Azima Sacco has you covered.
