Complete List Of Ushuru Sacco Products And Branches

In this article, we will have a look at Ushuru Sacco products and their branches in Kenya. Ushuru Sacco is a deposit-taking Sacco that has been operational since 1970. With an impressive asset base of over Ksh 6.12 billion, it stands out as one of the largest deposit-taking Saccos in the country.

Background of Ushuru Sacco

Originally formed by employees of the Customs and Excise Department under the name Customs & Excise Workers (CUEW) Sacco, Ushuru Sacco has evolved over the years. Its membership is now open to Kenya Revenue Authority (KRA) employees as well as individuals from various public and private institutions. With a robust membership exceeding 7,571, Ushuru Sacco has carved a niche for itself in the financial sector.

List Of Ushuru Sacco Products

a) Back Office Service Activity (BOSA) Savings Products

1. Ordinary Savings
   • Features:
     • Minimum contribution of Ksh 3,000 per month or 5% of basic salary.
     • Deposits used as collateral for loans.
     • Refundable only upon withdrawal from the Sacco.
     • Attracts annual interest, subject to ADM resolutions.
2. Investment Savings
   • Features:
     • Unlimited deposits and withdrawals.
     • Competitive interest rates as determined by ADM.
     • Suitable for personal micro-investments.
     • Deposits can be made via bank account, check-off deductions, or MPESA.
     • Available on the mobile banking platform for Msacco transactions.

b) Back Office Service Activity (BOSA) Loans

1. Main Loan
   • Features:
     • Granted up to 3.5 times the member’s savings.
     • No maximum limit.
     • 1% interest per month on reducing balance.
     • Repayment period of up to 72 months.
     • Requirements include a filled loan application, two latest pay slips, and guarantors.
2. Refinancing Loan
   • Features:
     • For completing ongoing projects.
     • Same terms as the Main Loan.
3. School Fees Loan
   • Features:
     • For financing academic needs with repayment up to 24 months.
4. Emergency Loan
   • Features:
     • Addresses urgent financial needs with a recovery period of up to 12 months.
5. Almasi Loan
   • Features:
     • Instant loan processed in 30 minutes.
     • Maximum limit of Ksh 100,000.
6. Jongea Loan
   • Features:
     • Targeted at first-time applicants, with a maximum limit of Ksh 200,000.
7. TIBA Loan
   • Features:
     • For members needing more money but limited by share deposits.
8. Shujaa Loan
   • Features:
     • For members with high savings wanting to borrow larger sums.

c) Front Office Service Activity (FOSA) Loan Products

1. Salary Advance Loan
   • Features:
     • Based on salary channeling through FOSA for at least 3 months.
2. Imara Loan
   • Features:
     • Available to members with salary channels through FOSA for a minimum of three months.
3. FOSA Pride Loan
   • Features:
     • Allows for large borrowing amounts, requiring salary channels through FOSA.
4. FOSA Pride on Mobile
   • Features:
     • Instant loan facility available on mobile.
5. Riziki Loan
   • Features:
     • Based on previous year’s returns, available instantly.
6. MPOA Loan
   • Features:
     • Instant loan facility available through Msacco registered members.
7. Pamoja Loan
   • Features:
     • Group loan facility processed within a week.
8. Biashara Bora Loan
   • Features:
     • Business loan facility for working capital and asset financing.

d) Savings Products

1. Sasa Saving Account
   • Features:
     • Main transactional account with no interest.
2. Kwenzi Account
   • Features:
     • Designed for children under 18, with a minimum operating balance of Ksh 1,500.
3. Likizo Account
   • Features:
     • Allows savings for special occasions, with a minimum operating balance of Ksh 1,000.
4. Jaza Jaza Account
   • Features:
     • Designed for achieving financial goals, with an interest rate of 5%.
5. Fixed Deposit Account
   • Features:
     • For savers who can’t decide on the deposit term.
6. Biashara Bora Account
   • Features:
     • Business transactional account for corporates and SMEs.
7. Pamoja Account
   • Features:
     • Customized for group savings, allowing for quarterly withdrawals.

List Of Ushuru Sacco Branches and Contacts

1. Ushuru Sacco Head Office
   • Location: Ushuru Sacco Centre, Wood Avenue, Kilimani, Nairobi
   • Phone: 020 7608700
   • Email: info@ushurusacco.com
2. Mombasa Branch
   • Location: Custom House (Ground floor Room No. 6)
   • Phone: 020 2170661
3. Kisumu Branch
   • Location: Swan Centre, Ground Floor
   • Phone: 020 2391343
4. Eldoret Branch
   • Location: Kiptagich House, 4th Floor (Room No. 416)
   • Phone: 053 8015853

Ushuru Sacco continues to provide valuable financial services to its members, supporting personal development, education, and urgent financial needs. With its extensive range of products and branches, it stands as a pillar of financial security for its diverse membership.