Taraji Savings and Credit Co-operative Society (Sacco) has been a key player in Kenya’s cooperative movement since its formation in 1978. Originally founded by a group of 100 teachers, the Sacco’s primary objective was to mobilize resources for its members, providing affordable financial products and services to promote savings and improve financial well-being. Over the years, Taraji Sacco has expanded its reach while maintaining its core values of fairness, honesty, accountability, and teamwork. Today, with an asset base of Ksh 0.77 billion, Taraji Sacco is one of Kenya’s leading deposit-taking Saccos, offering a broad range of financial services to its growing membership.
Taraji Sacco Membership Eligibility
Taraji Sacco’s membership base is diverse, drawing individuals from various professions and sectors, particularly in and around Siaya County. The Sacco is open to the following groups:
- TSC Employees: Teachers under the Teachers Service Commission (TSC) both within and outside Siaya County.
- Board of Governors Employees: Staff members employed by school boards of governors.
- Ministry of Health Employees: Health workers affiliated with the national or county governments.
- County Government Employees: Employees working for county governments across Kenya.
- ECD Teachers: Early Childhood Development teachers from both public and private institutions.
- Ministry of Water Employees: Workers within the Ministry of Water and related sectors.
- Registered Groups: Self-help groups, community organizations, and other formalized groups are eligible for membership.
- Individual Members: The general public, including self-employed individuals or businesspeople looking for financial growth opportunities.
This wide membership base reflects Taraji Sacco’s commitment to inclusivity, offering individuals and groups across different sectors a chance to save and borrow at competitive rates.
Taraji Sacco Membership Requirements
To become a member of Taraji Sacco, interested individuals must meet the following requirements:
- Filled Membership Application Form: The form is available on the Sacco’s website or can be picked up from any of its branches.
- Membership Fee: A non-refundable membership fee of Ksh 500.
- Copy of National ID: A valid identification document for all applicants.
- Copy of Payslip: This is required for salaried employees joining the Sacco.
Taraji Sacco Products
Taraji Sacco provides a wide range of financial products to cater to its members’ needs, including savings, loans, and other financial services.
1. Savings Products
Taraji Sacco offers several savings accounts designed to help members grow their savings and meet various financial goals:
- Excel Saving Scheme
- Christmas Furaha
- Monthly Savings Deposits
- Co-operative Savings
- Medicare Savings
- Bakisha Savings
- Share Capital
- Fixed Deposit
- Toto Poa Savings Account (for children’s savings)
- Risk Contribution
- Microfinance Savings
2. BOSA Loan Products
Back Office Services Activity (BOSA) loans are available for members with a steady income:
- Premier Loan
- Development Loan
- Karibu Loan
- School Fees Loan
- College Fees Loan
- Almasi Loan
- Emergency Loan
- Super Emergency Loan
3. FOSA Loan Products
Front Office Services Activity (FOSA) loans provide members with additional financial flexibility:
- FOSA Special Loan
- FOSA Quick Serve
- FOSA Development Loan
- Shujaa Loan
- Salary Advance
- Super Advance
- FOSA Flex
- FOSA Jiinue Loan
- M-Chap Chap Loan
- FOSA Jipange Loan
4. Micro-Credit Loan Products
Taraji Sacco also caters to small businesses and micro-entrepreneurs with loans tailored to their needs:
- Imarisha Biashara Loan (Business Loan)
- Boda Boda Loan (Loan for motorbike operators)
- Micro Elimu Loan (Loan for small-scale education needs)
- Micro Emergency Loan
- Bakisha Loan
Other Services
In addition to its savings and loan products, Taraji Sacco offers several additional services to ensure its members’ financial convenience:
- Cheque Clearance
- Sale of Banker’s Cheques
- Custodial Services (for safekeeping of valuables)
- SMS Services
- M-Sacco (Mobile banking)
- Safaricom Paybill (Number: 926500)
- Electronic Funds Transfer (EFT)
Taraji Sacco Branches
Taraji Sacco has three main branches, ensuring accessibility for its members across different parts of Siaya County:
- Head Office:
- Location: Siaya Teachers Plaza, Oginga Odinga Road, Siaya Town.
- Contacts: 0733 409 744 / 0792 895 663.
- Ugunja Branch:
- Location: KCB Building, along Ugunja-Busia Road.
- Contact: 0746 386 078.
- Bondo Branch:
- Location: Jenoh Plaza, Opposite Kenya Women.
- Contact: 0718 217 768.
Why Join Taraji Sacco?
Becoming a member of Taraji Sacco comes with numerous benefits, including access to affordable credit, a wide range of savings products, and personalized financial solutions. The Sacco also offers attractive interest rates on loans and dividends on share capital, ensuring that members not only save but also grow their wealth.
With over four decades of experience, Taraji Sacco continues to provide reliable financial services to its members, fostering economic growth and stability. Whether you are a salaried employee, a business owner, or part of a registered group, Taraji Sacco offers a trusted platform for financial empowerment.
