Chai Sacco, established in 1973, has been a key financial partner for thousands of members across Kenya, empowering them economically, socially, and financially. Over the years, the Sacco has tailored its services to meet the evolving needs of its members, offering a wide range of financial products and services. As a regulated entity under the Sacco Society Regulatory Authority (SASRA), Chai Sacco has grown into one of the largest deposit-taking Saccos in the country, with an impressive asset base of over Ksh 4.72 billion.
Chai Sacco Membership Eligibility
Membership at Chai Sacco is open to a wide variety of individuals and institutions. The following groups are eligible to join:
- Employees of KTDA and its Subsidiaries
Individuals working for the Kenya Tea Development Agency (KTDA) and its associated companies are eligible to become members of Chai Sacco. - Public and Civil Servants
Government employees, including civil servants, can join the Sacco and enjoy its range of financial services. - Corporate Institutions
Companies and corporate entities that are willing to make check-off deductions on behalf of their employees are also eligible to join. - Organized Groups
Groups such as chamas, investment clubs, and welfare associations can open accounts and benefit from Chai Sacco’s services. - Entrepreneurs
Business owners and self-employed individuals are welcome to join Chai Sacco and access its financial products. - Immediate Family of Existing Members
Spouses, children, and other immediate family members of current Chai Sacco members can apply for membership with the Sacco.
Chai Sacco Membership Requirements & Application Procedure
To join Chai Sacco, prospective members need to meet the following criteria:
- Age Requirement
The member must be at least 18 years of age. - Identification Documents
Applicants are required to provide a valid Kenyan ID or passport. For Kenyans living abroad, a valid passport can be used to apply for membership. - Passport-Size Photograph
A recent passport-sized photo is required for identification purposes. - Membership Form
Complete and sign the official Chai Sacco membership application form, which can be obtained from their offices or online. - Membership Fee
Pay the required membership fee of Ksh 1,000. - Share Capital
Upon joining, members must take up the minimum number of shares. The minimum share capital can be acquired over 24 months or upon application for the first loan.
Benefits of Chai Sacco Membership
Being a member of Chai Sacco comes with several advantages:
- Competitive Returns on Savings: Members earn attractive returns on their savings, providing a solid foundation for financial growth.
- Rebates on Deposits: Members enjoy rebates on their deposits, which adds value to their savings.
- Low Interest Rates on Loans: Chai Sacco offers loans at low interest rates, making borrowing more affordable for members.
- Real Estate Investment Opportunities: Through Chai Diamond, members have access to real estate investment options, allowing them to grow their wealth.
Additionally, Chai Sacco offers several retail products tailored to meet the unique needs of its members, including:
- Chai Angels Junior Account: A savings account designed for children to help parents plan for their future financial needs.
- Chai Premier Holiday Account: A specialized account to help members save for vacations and holidays.
- Group Account: A service for organized groups, including chamas, investment clubs, and welfare associations.
- Farm Produce Payments & Loans: Services tailored to agricultural members, including payment processing for tea, green leaves, milk, and other produce.
Chai Sacco Contacts
For more information on membership and services, you can contact Chai Sacco through the following:
- Head Office: KTDA Plaza, 4th Floor, Moi Avenue, Nairobi
- Contacts: 0709 808 100 / 0709 808 101
Chai Sacco has been a trusted financial partner for over four decades, providing a solid foundation for members to save, invest, and access credit for various personal and business needs. By joining Chai Sacco, members not only benefit from attractive financial products but also contribute to the growth of a vibrant cooperative society.
