Wevarsity Sacco, registered on 2nd October 2003 under certificate number CS 10243, operates under the guidance of the Co-operatives Act and the Sacco Societies Regulatory Authority (SASRA) Act. With a mission focused on promoting financial prudence through cooperative principles, Wevarsity Sacco offers a variety of financial products and services aimed at meeting the needs of its members.
Wevarsity Sacco Membership Eligibility
The Sacco primarily serves individuals associated with the following institutions:
- Masinde Muliro University of Science and Technology
- Kibabii University
- Kaimosi Friends University College
- Lake Victoria North Water Services Board
- ACCES
- Residents of Kakamega Town
Membership is open to staff members from these institutions, allowing them to access the Sacco’s wide array of financial services and benefits.
Wevarsity Sacco Membership Requirements
To become a member of Wevarsity Sacco, the following documents and steps are required:
- Duly filled membership application form – The form can be accessed online via the Sacco’s website or collected in person from the Sacco office.
- Copy of National ID – For identification and verification purposes.
- Registration fee of Kshs 500 – A non-refundable membership fee.
- Copy of KRA PIN certificate – To comply with tax requirements.
- Passport size photo – For the member’s profile.
Wevarsity Sacco Products and Services
1. Loan Products:
- Normal Loan: Available for general needs.
- Development Loan: For long-term projects.
- Pikipiki Loan: For purchasing motorcycles.
- Maliza Miradi Loan: Designed to help complete ongoing projects.
- College Fees Loan: Tailored for educational needs.
- Salary Advance: Short-term solution for salaried members.
- School Fees Loan: For educational expenses.
- Emergency Loan: For unexpected financial crises.
- Passage and Baggage Loan: Helps with relocation expenses.
- FOSA Plus Loan: Available to FOSA account holders.
- Instant Plus Loan: For urgent needs.
- Super Salary Advance: A higher-tier salary advance.
2. Savings Products:
- Christmas Savings: Special account for holiday savings.
- Education Savings: For educational expenses.
- Ordinary Savings: General savings account.
- Fixed Deposit Savings: Allows members to earn higher interest rates on fixed-term deposits.
3. Investment Products:
- Deposits: Regular deposits to accumulate savings.
- Share Capital: Membership shareholding.
- Plaza Shares: Investment in the Sacco’s properties and ventures.
Wevarsity Sacco Services
1. ATM Services: Available for FOSA account holders with a maximum withdrawal limit of Kshs 40,000 per month. ATM cards can be applied for at the Sacco office at applicable rates.
2. Mobile and Internet Banking: Members can access services such as:
- Applying for salary advances.
- Checking account balances and status.
- Requesting mini statements.
- Changing passwords and receiving SMS alerts.
- Paying utility bills and purchasing airtime.
- Making deposits and withdrawals.
3. Cheque Clearance: Available for FOSA account holders. Members receive payments upon cheque maturity, and remittance cheques are exempt from commission charges.
Wevarsity Sacco Contacts
For more information, you can contact the Wevarsity Sacco head office located at Wevarsity Plaza, along Kakamega-Webuye Road, Lurambi:
- Phone: 0707 124 360
Wevarsity Sacco continues to offer a robust suite of financial services aimed at improving the welfare of its members, ensuring both savings and access to affordable credit.
