Ollin Sacco Society, established on June 14, 1976, has grown from its humble beginnings with 163 members to become one of Kenya’s largest deposit-taking Saccos. With over 27,000 active members and an asset base exceeding Ksh 8.18 billion, the Sacco continues to serve a diverse range of individuals and organizations across the country. Ollin Sacco holds the distinction of being the first Sacco in Africa to operate a Front Office Services Activity (FOSA) in 1995, offering banking services to its members.
This article outlines the eligibility criteria and membership requirements for those looking to join Ollin Sacco.
Ollin Sacco Membership Eligibility
Ollin Sacco offers membership to a wide array of individuals and organizations, including:
- Primary school teachers
- Post-primary and secondary school teachers
- Teachers Service Commission (TSC) secretariat staff
- Retired teachers
- Public officers in various government ministries
- Employees of the Sacco itself
- Employees of private institutions
- Members of the business community
This broad membership pool ensures that Ollin Sacco caters to the financial needs of educators, public servants, private sector workers, and business owners alike.
Ollin Sacco Membership Requirements
To become a member of Ollin Sacco, the following steps and documents are required:
- Complete a Membership Application Form – This form can be downloaded from the Sacco’s official website.
- Provide a Copy of your National ID or Passport – Proof of identification is mandatory for all applicants.
- Submit a Passport-Sized Photograph – A recent colored photo is required for identification purposes.
Interestingly, Ollin Sacco does not charge a membership fee, making it even more accessible to potential members.
Benefits of Ollin Sacco Membership
By becoming a member of Ollin Sacco, individuals enjoy several financial benefits, including:
- Affordable Loans – Members can access loans up to five times their deposits.
- High Dividends and Interest – The Sacco pays dividends at 17.5% on share capital and offers interest on deposits at 12%.
- Instant Loan Processing – Members benefit from fast loan approvals with no backlog.
- Low Interest Rates – Loan interest rates are as low as 1% on a reducing balance.
- Salary Advance Loans – Members can borrow up to Ksh 2,000,000 in salary advance loans.
- Flexible Loan Repayment – Repayment periods of up to 96 months allow for manageable payment schedules.
- 24/7 Access to Banking Services – Members can use alternative banking channels like *645# or the OllinKash app for seamless transactions.
Ollin Sacco Products
(a) Savings Products
Ollin Sacco provides several savings options to cater to the financial goals of individuals, businesses, and groups:
- Personal Savings Accounts
- Ordinary Savings Account
- Fixed Deposit Account
- Call Deposit Account
- Joint & Business Accounts
- Joint Account
- Group Savings Account
- Business Account
- Future Savings Accounts
- Stop Gap Account
- Education Scheme Account
- Mapato Savings Account
(b) Loan Products
Ollin Sacco offers both long-term and short-term loan options to meet members’ diverse needs:
- Long-term Loans:
- Capital Loan
- Investment Loan
- Development Loan
- Prime Loan
- Ollin Premium Loan
- Estate Loan
- Supa Loan
- FOSA Loan
- Short-term Loans:
- Emergency Loan
- Education Loan
- Fanikisha Loan
- Salary Advance Loan
- Alpha Loan
- Business Loan
- Stop Gap Loan
- Pamoja Loan
Ollin Sacco Contacts
- Head Office: Along Kerugoya-Kiang’ombe Road, Kerugoya Town
- Contact: 0724 256 461
Ollin Sacco continues to provide competitive savings and credit services to a broad spectrum of members. By offering affordable loans, high dividends, and 24-hour access to banking services, Ollin Sacco stands as a reliable financial institution for Kenyans. Whether you’re a teacher, public officer, or business professional, the Sacco offers flexible solutions to meet your financial needs. Joining Ollin Sacco is a gateway to financial empowerment through a trusted and well-established cooperative society.
