Ushuru Sacco, originally known as Customs & Excise Workers (CUEW) Sacco, was formed in 1970 to serve employees of the Customs & Excise Department under the Ministry of Finance. In 1995, after the formation of the Kenya Revenue Authority (KRA), the Sacco rebranded to Ushuru Sacco in 2002 to reflect its inclusive membership base, which now includes employees from both public and private institutions across Kenya.
With an asset base of Ksh 6.12 billion, Ushuru Sacco is one of the largest deposit-taking Saccos in Kenya, providing a wide range of financial products and services to its members.
Ushuru Sacco Membership Eligibility
Membership at Ushuru Sacco is open to all resident and non-resident Kenyans, regardless of their location. To qualify for membership, an individual must meet the following criteria:
- Be at least 18 years of age.
- Be an ordinary resident of Kenya.
- Have a clean record, without any criminal conviction involving fraud or dishonesty.
- Not be a member of any similar savings and credit cooperative society.
- Be within the field of membership, which includes employees of KRA, government ministries, reputable private companies, and organizations, or a spouse of an existing member.
- Not engage in activities such as money lending that may conflict with the Sacco’s objectives.
- Be of good character.
Ushuru Sacco Membership Requirements
To join Ushuru Sacco, applicants need to meet the following requirements:
- Completed membership application form: This can be downloaded from the Ushuru Sacco website or collected at any of the Sacco’s branches.
- A copy of the National ID.
- One passport-sized photograph.
- Entrance fee of Kshs 1,000.
- Share capital of Kshs 30,000.
- Monthly savings of Kshs 3,000.
- Rejoining fee (if applicable): Kshs 3,000.
- Risk Management Fund (RMF) contribution: Kshs 300 per month.
Benefits of Ushuru Sacco Membership
As a member of Ushuru Sacco, you gain access to various benefits that enhance your financial stability and growth:
- Fast Loan Processing: Ushuru Sacco offers a loan turnaround time of 48 hours or less, ensuring quick access to funds when needed.
- Convenient Banking Solutions: Members can access services 24/7 through alternative channels such as mobile banking, the online member portal, and the Sacco Link debit card.
- Mobile-based Loans: Members can apply for quick loans via their mobile phones, with amounts of up to Kshs 150,000.
- Diverse Loan Products: Ushuru Sacco provides an array of loan products, including emergency loans, development loans, school fees loans, and more.
- Savings and Investment Opportunities: Members can benefit from competitive dividends on shares and other savings products.
Ushuru Sacco Contacts
- Head Office: Ushuru Sacco Centre, Wood Avenue, Kilimani, Nairobi.
- Contact Number: 020 760 8700
Ushuru Sacco is committed to providing affordable financial services that improve the economic welfare of its members. Whether you’re looking for savings opportunities, quick access to credit, or long-term investment options, joining Ushuru Sacco is a step towards financial empowerment.
