Southern Star Sacco, a leading deposit-taking Savings and Credit Co-operative Society (Sacco), was officially registered in June 1994 under the Co-operative Development and Marketing Act as CS No. 7178. Over the years, it has expanded its services, providing affordable, convenient, and efficient financial solutions to its members.
In 2010, Southern Star Sacco was licensed by the Sacco Societies Regulatory Authority (SASRA) as a deposit-taking Sacco. With an asset base of Kshs 1.53 billion, it has grown into a trusted financial institution serving members across Nairobi, Meru, and Tharaka Nithi counties.
Southern Star Sacco Membership Eligibility
Membership at Southern Star Sacco is open to any Kenyan citizen. Whether you are an individual or a corporate entity, you can become a member and enjoy a variety of financial services designed to meet your needs. Below is a breakdown of the eligibility criteria for both individual and corporate membership.
Southern Star Sacco Membership Requirements
Individual Membership Requirements:
- Age Requirement: You must be a Kenyan adult, aged 18 years or older.
- Identification: A valid Kenyan National Identity Card or Kenyan passport is required.
- Photo: A passport-size photograph will be taken during registration.
- Registration Form: Complete and submit the membership registration form, available at the Sacco’s offices or on their website.
- Registration Fee: Pay a one-time registration fee of Kshs 300.
- Share Capital: Build up your share capital to Kshs 5,000 to attain full membership status, which grants you full benefits within the Sacco.
Corporate Membership Requirements:
- Certificate of Registration: Provide a valid certificate of registration for the entity applying.
- Certificate of Incorporation: For limited companies, a copy of the certificate of incorporation is required.
- KRA PIN Certificate: Submit a copy of your entity’s KRA PIN certificate.
- Tax Compliance: Provide a valid tax compliance certificate.
- Directors’ Details: Copies of IDs and passport-size photographs for the directors.
- Resolution to Join: Provide the minutes of the board resolution to join Southern Star Sacco.
Benefits of Joining Southern Star Sacco
Joining Southern Star Sacco comes with numerous benefits, making it an attractive option for anyone seeking financial services. These include:
- Access to Affordable Credit: Members can access a wide range of loan products at competitive interest rates, enabling them to achieve their financial goals.
- Branded VISA ATM Cards: Members receive a VISA-branded ATM card, allowing easy access to funds through Co-operative Bank ATMs, Co-op Jirani agents, and any VISA-enabled ATM networks.
- Low-Interest Loans: Southern Star Sacco offers affordable loan products with low-interest rates, making it easier for members to borrow and repay.
- Financial Literacy Programs: The Sacco provides education and financial literacy training programs to its members free of charge, helping them manage their finances more effectively.
- Convenient Mobile Banking: Members can conveniently transact through mobile banking, enabling 24/7 access to funds and account management.
- Diverse Savings Products: The Sacco offers a wide array of savings accounts tailored to meet various personal and business needs, ensuring members can meet their savings targets.
Southern Star Sacco Contacts
If you’re interested in joining Southern Star Sacco or learning more about their products and services, you can visit or contact their head office:
- Location: MT Building, Chuka Town, Next to Tharaka Nithi County Government Offices.
- Contact: 0705 825 601
Southern Star Sacco continues to play a pivotal role in the economic empowerment of its members by offering tailored financial solutions that drive growth and financial stability. Whether you’re an individual looking for a reliable savings partner or a corporate entity seeking a trusted financial institution, Southern Star Sacco is a worthy option.
