Wana-Anga Sacco, a prominent savings and credit cooperative society in Kenya, has made a significant impact on its members since its registration on December 14, 1979, under the Co-operative Societies Act of 1966, Cap 490, Section 7. With its roots in serving employees of the meteorological department, the Sacco has evolved over the years, welcoming new members from diverse backgrounds and institutions, while maintaining its primary goal: improving the lives of its members through savings mobilization and access to credit.
With over 6,320 members and an impressive asset base of Kshs 1.27 billion, Wana-Anga Sacco is among Kenya’s leading deposit-taking Saccos, offering a wide range of products and services. In this article, we will outline the membership eligibility and requirements, as well as the various products offered by Wana-Anga Sacco.
Wana-Anga Sacco Membership Eligibility
Originally designed to serve employees of the meteorological department, Wana-Anga Sacco has expanded its membership scope to include individuals and organizations from other sectors. This shift allows more Kenyans the opportunity to benefit from the Sacco’s financial services, fostering financial stability and growth for a broader demographic.
The primary eligibility criteria for joining Wana-Anga Sacco are:
- Employment within the meteorological department, or
- Affiliation with organizations or individuals that meet the Sacco’s common bond criteria, which has been broadened over time.
Wana-Anga Sacco Membership Requirements
To become a member of Wana-Anga Sacco, prospective members must meet a few essential requirements:
- Membership Application Form: This form can be obtained either from the Sacco’s official website or by visiting their offices. It must be duly filled out and submitted.
- Entrance Fee: A non-refundable fee of Kshs 1,000 is required to join the Sacco.
- Share Purchase: Members are required to purchase a minimum of 1,250 shares, each valued at Kshs 20. These shares, which amount to Kshs 25,000, are non-withdrawable but serve as an essential component of Sacco membership.
- Passport Size Photo: A current passport-sized photo is required to complete the application process.
- KRA PIN Certificate: A copy of the applicant’s KRA PIN certificate is necessary for tax compliance and identification purposes.
- National ID/Passport: A copy of the applicant’s National ID or passport is required for identification purposes.
Wana-Anga Sacco Products
Wana-Anga Sacco offers an array of financial products and services tailored to meet the diverse needs of its members. These products can be broadly categorized into FOSA products, loans, medical cover, and retirement benefits.
1. FOSA (Front Office Service Activity) Products
FOSA services are essential for Sacco members who need basic banking services. These include:
- Banker/Third-Party Cheques
- Fixed Deposits
- Savings Accounts
- Money Transfer Services
- Mpesa Services
- Loans and Advances
- Salaries Processing
- Deposits Accounts
- Children’s Accounts
- Holiday Accounts
2. Loan Products
One of the primary benefits of Sacco membership is access to affordable loans. Wana-Anga Sacco offers various loan options to cater to the different financial needs of its members. These loans include:
- Normal/Development Loans
- Refinancing Loans
- New Instant Loans
- School Fees Loans
- College Fees Loans
- Emergency Loans
These loans are designed to help members achieve both personal and professional growth, by enabling access to funds for development, education, and emergency needs.
3. Wana-Anga Medical Cover (Wanameco)
Wanameco is a medical cover product designed to assist members and their dependants with hospital bills during inpatient hospitalisation. It ensures that healthcare costs are managed efficiently, protecting members from financial strain during medical emergencies. Wanameco has approximately 1,500 members contributing an average of Kshs 175,000 per month.
4. Retirement & Benefit Fund (RBF)
The Retirement & Benefit Fund (RBF) is another important product offered by Wana-Anga Sacco, aimed at ensuring the welfare of permanent members after retirement. All permanent members automatically join the RBF upon payment of a registration fee. The monthly contribution structure includes Kshs 200 from the member and an additional Kshs 100 for a dependant, ensuring that members are financially secure during retirement.
Wana-Anga Sacco Contacts
For individuals interested in joining Wana-Anga Sacco or seeking more information on its products and services, the Sacco’s head office is located at Dagoretti Corner, Ngong Road, within the Kenya Meteorological Department Headquarters Compound in Nairobi.
You can reach Wana-Anga Sacco through the following contact details:
- Phone: 020 357 1108 / 2155, 0712 710 117.
Wana-Anga Sacco continues to be a reliable financial partner for many Kenyans, providing opportunities for savings, credit, and essential financial products designed to improve the welfare of its members. With its rich history and strong financial standing, it remains a trusted institution in the country’s cooperative movement.
