Orient Sacco, initially registered as Thika District Teachers Sacco on January 21, 1997, has evolved into a prominent financial cooperative in Kenya. Having started with just 598 members, the Sacco has since grown its membership and expanded its offerings. In January 2013, the Sacco changed its name to Orient Sacco Society Limited to reflect its broader vision, beyond just catering to teachers in Thika.
Orient Sacco operates under the Co-operative Societies Act and the Co-operative Societies Rules, Cap 490. The Sacco is committed to providing members with access to financial solutions designed to empower them through savings and investment opportunities.
Orient Sacco Membership Eligibility
The Sacco’s membership is open to any Kenyan individual or group. This inclusivity makes it easy for diverse members of the community, from individuals to investment groups, to join and benefit from the Sacco’s array of financial products and services.
Orient Sacco Membership Requirements
To become a member of Orient Sacco, applicants must meet the following requirements:
- Download and fill the membership application form – The form is available on the Sacco’s website for convenience.
- Attach a passport-sized photo – This is required for the member’s profile.
- Copy of National ID – For identification and verification purposes.
- KRA PIN certificate – A mandatory document for compliance with tax regulations.
- Registration fee of Kshs 500 – A one-time payment to join the Sacco.
- No minimum monthly contribution – Members are encouraged to set their own saving and investment goals. There is no fixed amount required, making membership accessible to individuals with different financial capabilities.
After filling out the membership form, applicants should scan and send the documents to info@orientsacco.co.ke. Upon successful registration, members will receive an SMS notification with their member number.
Orient Sacco Products & Services
Orient Sacco offers a range of savings, credit, and banking services tailored to meet the needs of its members. Here are some of the key products and services:
1. Savings Products:
- Savings Account: A standard account for accumulating savings.
- Mwanangu Account: A children’s savings account designed to help parents save for their child’s future.
- Group Account: A savings solution for groups, investment clubs, or chamas.
- Joint Account: Ideal for partners or couples looking to save together.
- Mkulima Account: Tailored for farmers to help them save from their agricultural income.
- Fixed Account: Offers members the opportunity to save for a fixed period while earning competitive interest.
- Salary/Pension Account: Convenient for salaried members or pensioners to receive regular payments.
2. Credit Products:
- Millennium 36: A loan product designed for long-term projects with a repayment period of up to 36 months.
- FOSA Development Loan: Ideal for development projects.
- Asset Finance: For purchasing assets like vehicles or machinery.
- One Year Advance: A short-term loan to address immediate financial needs, payable within 12 months.
- Chama/Group Loan: Tailored for investment groups or chamas to finance collective goals.
- Salary Advance: A quick loan for salaried individuals to access funds ahead of payday.
- Orient Biashara: Designed for small and medium enterprises to expand their businesses.
3. Mobile Banking: Members can access their Sacco accounts and perform transactions on their mobile phones. By dialing *882#, members can:
- Transfer money.
- Withdraw cash.
- View balances and transaction history.
4. Cheque Clearing: Members can deposit cheques into their Sacco accounts as a method of payment. Cheques take four days to clear, after which the funds are made available in the member’s account.
5. Bankers Cheque: This facility allows members to make payments to third parties using bankers cheques instead of carrying large amounts of physical cash. Bankers cheques also take four days to clear.
Orient Sacco Contacts
For more information or to become a member, you can reach Orient Sacco through their head office located at:
- Address: Orient Sacco Building, Section 9, Former CDF Office, Thika Town.
- Phone: 0712 911 888 / 0759 490 726.
Orient Sacco continues to offer competitive savings, loan products, and other services, helping its members achieve financial growth and stability. Whether you are looking to save, invest, or access credit, Orient Sacco provides tailored solutions for both individuals and groups.
