Trans Nation Sacco, formerly known as Tharaka Nithi Teachers Sacco, was established after the split of Meru Teachers Sacco, which previously operated in the larger Meru District. Officially registered on June 28th, 1993, under registration number C/S 6826, the Sacco has grown into one of Kenya’s largest deposit-taking institutions.
With an impressive asset base of Kshs 9.70 billion, Trans Nation Sacco has firmly established itself as a key player in the financial services sector. It is regulated by the Sacco Societies Regulatory Authority (SASRA) and has a strong membership base of over 37,000 members in BOSA (Back Office Services Activities) and more than 75,000 accounts in FOSA (Front Office Service Activities).
In this article, we explore the membership eligibility and requirements for joining Trans Nation Sacco, as well as the benefits that come with being a member.
Trans Nation Sacco Membership Eligibility
Trans Nation Sacco welcomes membership from all Kenyans, provided they meet the necessary qualifications. Unlike its early days when it primarily served teachers, the Sacco has now opened its doors to a more diverse membership, which includes business people, entrepreneurs, retirees, and others.
Trans Nation Sacco Membership Requirements
To become a member of Trans Nation Sacco, you need to fulfill the following requirements:
- Fully Filled Membership Application Form
Prospective members must complete the membership application form, which can be easily downloaded from the Sacco’s website or collected from any of its branches across the country. - Age Requirement
Members must be over 18 years old. - National Identity Card
A clear copy of your National ID (both sides) is required. - Passport Size Photograph
Submit a recent color passport-size photo. - Entrance Fee
You must pay an entrance fee of Kshs 500. - Share Capital Contribution
Members are required to contribute a share capital of Kshs 10,000, as stipulated in the Sacco’s by-laws. - Risk Fund Contribution
A monthly contribution of Kshs 200 towards the risk fund account is mandatory. - Payslip (Where Applicable)
For employed individuals, a copy of the current payslip must be attached to the application form. - Monthly Share Contribution
Members are required to make monthly contributions based on their employment status:- Kshs 2,000 for employed members.
- Kshs 1,500 for business members.
- Kshs 500 for retired members.
- Kshs 1,000 for ECDE (Early Childhood Development Education) members.
Payment Options for Monthly Contributions
Trans Nation Sacco offers various convenient methods for making monthly share contributions, ensuring that members can maintain their accounts without any hassle. These include:
- Mpesa Paybill Number 507900
Members can make payments through Mpesa using the Sacco’s paybill number. - Employer Check-Off
For employed members, contributions can be deducted directly from their salary through an employer check-off system. - Sacco or Bank Standing Order
Members can set up a standing order with the Sacco or their bank to ensure regular payments. - *TN Cash USSD (822#)
This mobile service allows members to transfer funds directly to the Sacco through their mobile phones. - TN Cash Mobile Application
Members can also make contributions using the TN Cash mobile app, offering greater flexibility and convenience. - Over-The-Counter Deposits
Cash deposits can be made at any Trans Nation Sacco branch.
Benefits of Joining Trans Nation Sacco
Being a member of Trans Nation Sacco comes with numerous benefits, designed to help individuals grow financially and access credit facilities that meet their specific needs. Some of the key benefits include:
- Competitive Dividends and Interest on Deposits
Members enjoy annual dividends and interest on their deposits, helping them grow their savings over time. - Favorable Loan Interest Rates
Trans Nation Sacco offers loans at competitive interest rates, making it easier for members to access credit without incurring high costs. - Instant Loans via TN Cash and TN Members Portal
Members can access instant loans through the Sacco’s mobile platform, TN Cash, or the TN Members Portal, ensuring fast and convenient access to funds. - Loans on Reducing Balance
Trans Nation Sacco’s loans are structured on a reducing balance basis, meaning that the interest charged reduces as the loan is repaid, lowering the overall cost of borrowing.
Trans Nation Sacco Contacts
For further inquiries or to begin your membership journey, you can contact Trans Nation Sacco through the following:
- Head Office: Chuka Town
- Phone: 0726 617 752 / 064 630 354
Conclusion
Trans Nation Sacco has established itself as a leader in the Kenyan financial sector, offering members a range of benefits, from competitive savings products to affordable loan facilities. With a membership base of over 37,000 individuals, the Sacco continues to grow and innovate, providing convenient services like TN Cash and the TN Members Portal to ensure that members can easily access funds and manage their accounts. Joining Trans Nation Sacco offers a great opportunity to grow your savings, access affordable credit, and enjoy long-term financial security.
