Wanandege Savings and Credit Co-operative Society (Sacco), a prominent player in Kenya’s cooperative sector, was founded and officially registered on 22nd June 1977 under the Co-operative Societies Act, Cap 490 B. With more than 40 years of experience in financial management and member services, Wanandege Sacco is now one of the largest deposit-taking Saccos in the country, with an impressive asset base of Ksh 1.66 billion. The Sacco is regulated by the Sacco Societies Regulatory Authority (SASRA), ensuring that it operates under strict regulatory oversight, guaranteeing members’ savings and investments are secure.
Wanandege Sacco Membership Eligibility
Wanandege Sacco draws its diverse membership from various sectors, with the majority being employees in the aviation industry. However, the Sacco is also open to other industries, allowing individuals and groups from non-aviation-related businesses to join. The Sacco’s membership categories include:
- Aviation Industry Employees: These are employees of Kenya Airways and related companies in the aviation sector, such as airport services, flight operations, and aviation logistics.
- Non-Aviation Sector Members: The Sacco has expanded its reach to include members from other non-aviation-related companies, as well as groups and individuals engaged in business activities.
This wide membership base enhances the Sacco’s growth and diversity, offering different loan products and financial services to a wide range of customers.
Wanandege Sacco Membership Requirements
Joining Wanandege Sacco is a straightforward process that involves meeting a few eligibility criteria and submitting the required documentation. Here are the key requirements for those interested in becoming members:
- Registration Fee: A non-refundable registration fee of Kshs 2,000.
- Filled Application Form: Prospective members must fill out an application form, which can either be downloaded from the Sacco’s official website or obtained directly from their offices.
- Passport Photo: One passport-size photograph is required for identification purposes.
- Purchase of Share Capital: Members must purchase share capital worth Kshs 10,000, which can be paid in installments.
- Identification Documents: A copy of the applicant’s original National ID or passport is mandatory.
- KRA PIN Certificate: Applicants must provide their Kenya Revenue Authority (KRA) PIN certificate.
- Monthly Contribution: A minimum monthly contribution of Kshs 2,000 is required from all members.
Wanandege Sacco Products
Wanandege Sacco offers a broad range of financial products tailored to meet the needs of its members. These include short-term and long-term loans, as well as other financial services through its Front Office Service Activity (FOSA).
- Short-Term Loans:
- Airlift Loan
- Bash Loan
- Dividend Advance
- Long-Term Advance
- Pride Advance
- Salary Advance
- Short-Term Advance
- Long-Term Loans:
- Business Loan
- Development Loan
- Emergency Loan
- Maisha Loan
- Wezesha Loan
- Refinancing Loan
- School Fees Loan
- Super Loan
- FOSA Services:
- FOSA Savings Account
- Junior Savings Account
- Fixed Deposit Account
- Safe Custody Services for valuables
- ATM Sacco Link Visa Cards
- Mobile Banking (M-ndege) *346#
- Bankers Cheque, EFT, and RTGS services
- Mpesa Super Agency Services
- Cheque Deposit/Clearance Services
Benefits of Joining Wanandege Sacco
Becoming a member of Wanandege Sacco comes with numerous financial benefits, including:
- Favorable Loan Interest Rates: The Sacco offers highly competitive interest rates on both short-term and long-term loans, making it easier for members to access credit.
- Attractive Dividends: Members receive attractive dividends on their shares, helping them grow their investments.
- Quick Loan Processing: Wanandege Sacco prides itself on offering fast loan processing, ensuring members can access funds when they need them.
- Financial Education and Literacy: The Sacco offers financial literacy and education programs, empowering members with the knowledge to make informed financial decisions.
- High Loan Limits: Members with higher savings are eligible for larger loans with fewer requirements.
- Excellent Customer Service: The Sacco’s staff is known for offering exceptional customer service, ensuring all members’ queries and concerns are addressed promptly.
Wanandege Sacco Branches
Wanandege Sacco operates from two main branches, ensuring accessibility for its members in different regions of Kenya.
- Head Office:
- Location: Wanandege Plaza, Off Old North Airport Road, Opposite Embakasi Police Station, Embakasi Village, Nairobi.
- Contacts: 0722 208 557/ 0780 208 557/ 0111 044 900.
- Mombasa Branch:
- Location: Moi International Airport, Terminal 2.
- Contacts: 0781 908 438/ 0111 044 922.
In conclusion, Wanandege Sacco offers a secure and reliable platform for saving, accessing affordable credit, and growing financial investments. Whether you’re employed in the aviation industry or running a business outside the sector, Wanandege Sacco welcomes all eligible Kenyans looking for financial empowerment.
