Trans National Times Sacco, established in 1977 and licensed as a deposit-taking Sacco by the Sacco Societies Regulatory Authority (SASRA) in 2011, has become a significant financial institution serving a diverse range of members. Initially formed to promote the socio-economic well-being of Teachers Service Commission (TSC) employees in Trans Nzoia County, the Sacco has grown from its humble beginnings of about 200 members to now serving over 7,000 members from various sectors.
Trans National Times Sacco Membership Eligibility
Trans National Times Sacco boasts an inclusive membership that caters to individuals from different sectors of the economy. Eligibility for membership includes, but is not limited to, the following categories:
- Employees of Teachers Service Commission (TSC): The Sacco’s founding members come from this group, making it the primary category for eligibility.
- KNUT Employees: Workers of the Kenya National Union of Teachers can join the Sacco, aligning with its roots in supporting educators.
- Disciplined Forces: Members of the disciplined forces, including the Kenya Defence Forces (KDF), regular police, administration police, and prison wardens, are eligible to join.
- Ministry of Education Employees: Employees working within the Ministry of Education also qualify for Sacco membership.
- Sacco Staff: Trans National Times Sacco staff themselves are eligible for membership.
- Diaspora Civil Servants: Civil servants residing outside Kenya are welcomed into the Sacco’s fold.
- ECD Teachers: Early Childhood Development teachers also have access to membership, widening the Sacco’s educational reach.
- Security Guards: Those working in the security industry can join the Sacco to benefit from its financial products.
- Private School Teachers: Educators in private institutions are eligible to be part of the Sacco.
- Business Entrepreneurs: Individuals engaged in entrepreneurship and business activities can also join.
- Other Acceptable Organisations: From time to time, the Sacco’s board may admit new members from other organizations they deem acceptable.
Trans National Times Sacco Membership Requirements
Becoming a member of Trans National Times Sacco involves fulfilling specific requirements to ensure that all members meet the Sacco’s values and regulatory needs. The following criteria must be met for successful registration:
- Membership Application Form: A fully filled membership application form, which can be downloaded from the Sacco’s website or picked up from the office, is mandatory.
- Passport-size Photo: A recent colour passport-size photograph is required for identification.
- Copy of National ID: A clear copy of the applicant’s National ID (both front and back sides) is needed.
- Age Requirement: Applicants must be at least 18 years old.
- No Membership in Similar Saccos: The applicant should not be a member of another Sacco with similar objectives to avoid conflict of interest.
- No Criminal Conviction: The individual must not have been convicted of any criminal offence involving fraud or dishonesty.
- Not a Money Lender: Members should not directly be involved in money-lending activities that could contradict the objectives of the Sacco.
- Good Character: Applicants must be of sound mind and good character to ensure the integrity of the membership.
Trans National Times Sacco Products
Trans National Times Sacco offers a wide range of financial products and services designed to cater to the various needs of its members. These products are categorized into two main segments: FOSA (Front Office Services Activity) and BOSA (Back Office Services Activity).
FOSA Products:
- Premium Loan: A loan designed to offer financial support for premium needs.
- Karibu Loan: This loan product assists new members to start their journey with the Sacco.
- Share Booster: Members can boost their share capital using this facility.
- Product Advance: For members needing short-term financing for product purchases.
- Tuliza: A product aimed at helping members with debt consolidation.
- Fixed Deposit Account: Members can save funds for a fixed period while earning interest.
- Akiba Account: A general savings account for members to store their funds safely.
- Junior Account: A savings account aimed at promoting a saving culture for children.
- Dividend/Interest on Deposits Advance: Members can access advances on dividends or interest expected from their deposits.
BOSA Products:
- Normal Loan: A general loan product available to members based on their contributions.
- Emergency Loan: Quick financing to handle unexpected emergencies.
- School Fees Loan: A loan specifically designed to assist members in paying school fees.
- Preferential Loan: This loan offers members better terms under specific conditions.
- Smart Saver Loan: Encourages disciplined savings while providing access to credit.
- Asset Finance: Enables members to purchase assets like vehicles, machinery, and equipment.
- Kilimo Loan: A loan product tailored to support agricultural activities for members involved in farming.
Contact Information
For those interested in learning more or applying for membership, Trans National Times Sacco can be reached through the following:
- Head Office: Teachers Plaza, Ground Floor, Next to Kitale Police Station, Kitale Town.
- Phone Contacts: 0712 585 874 / 0111 050 510.
In conclusion, Trans National Times Sacco provides a well-rounded and comprehensive suite of financial services to its members, ensuring that individuals from various sectors of society can access savings and credit facilities designed to improve their economic well-being. With over 7,000 members and growing, this Sacco is committed to continuing its role as a leader in Kenya’s cooperative movement.
