Kimisitu Sacco, one of Kenya’s most established deposit-taking Savings and Credit Co-operatives, was formed in March 1985 by a group of staff from the International Centre for Research in Agroforestry (ICRAF). Its primary objective was to promote savings and create a fund pool that members could access through loans for productive and provident purposes. Today, with an asset base of Ksh 9.54 billion, it is a prominent financial institution open to a wide range of members.
Kimisitu Sacco Membership Eligibility
Kimisitu Sacco offers membership to various groups, making it accessible to:
- Employees of International Organizations, NGOs, Embassies, and High Commissions: Individuals working in these sectors can join the Sacco and benefit from its services.
- Spouses and Children of Existing Members: Family members of Kimisitu Sacco members can also apply for membership.
- Business Individuals: Entrepreneurs and businesspeople are welcome to join and take advantage of the Sacco’s financial services.
- Chamas: Both registered and unregistered investment groups, such as women and youth groups, are eligible.
- Corporates and Registered Businesses: Organizations can become members and enjoy the benefits the Sacco provides.
Kimisitu Sacco Membership Requirements
Membership in Kimisitu Sacco varies depending on the type of applicant. Below are the specific requirements:
1. Individual Members
- Complete an online registration form available on the Sacco’s website.
- Provide a copy of the National ID.
- Submit a passport-sized photo.
- Pay a membership entrance fee of Kshs 1,000 or Kshs 1,022 via Mpesa.
- Make a minimum monthly contribution of Kshs 2,000.
- Ensure an initial minimum share capital of Kshs 5,000.
2. Corporate Members
- Complete the corporate membership application form.
- Provide a Certificate of Incorporation.
- Submit the IDs, PIN certificates, and passport-sized photos of the company signatories.
- Submit the company profile.
- Pay a membership entrance fee of Kshs 2,000 or Kshs 2,022 via Mpesa.
- Ensure a minimum monthly contribution of Kshs 10,000.
- Maintain an initial minimum share capital of Kshs 10,000.
- Provide a resolution from the board of directors to join Kimisitu Sacco.
3. Chama Members
Chamas can either be registered groups or investment groups registered as companies.
(a) Registered Groups
Includes self-help groups, women groups, and youth groups:
- Complete the chama membership application form.
- Provide a certificate of registration.
- Submit copies of IDs and passport-sized photos of the signatories.
- Pay a membership entrance fee of Kshs 2,000 or Kshs 2,022 via Mpesa.
- Make a minimum monthly contribution of Kshs 10,000.
- Ensure an initial minimum share capital of Kshs 10,000.
- Provide the group constitution and a letter of introduction from the Ministry of Social Services.
- Submit a resolution by group members to join Kimisitu Sacco.
(b) Investment Groups Registered as Companies
These groups need to provide:
- The completed membership application form.
- A Certificate of Incorporation.
- IDs and passport-sized photos of the directors.
- Kshs 2,000 or Kshs 2,022 entrance fee (via Mpesa).
- A minimum monthly contribution of Kshs 10,000.
- An initial minimum share capital of Kshs 10,000.
- Company and directors’ KRA PIN certificates.
- Original memorandum and articles of association.
- A resolution to join the Sacco.
Kimisitu Sacco Contacts
- Head Office Location: AEA Plaza, Valley Road, Nairobi.
- Contact Number: 0709 136 000.
Kimisitu Sacco provides a diverse range of financial services to its members, making it an ideal savings and investment partner for employees, business owners, and groups in Kenya.
