Telepost Sacco, formerly known as Posta Sacco, has been a key player in Kenya’s savings and credit cooperative movement since its establishment in 1969. Initially launched as a welfare organization for subordinate staff of the then Kenya Posts & Telecommunications Corporation (KP&TC), the Sacco has evolved into a well-recognized financial institution. Over the years, Telepost Sacco has expanded its membership base and capital, becoming one of the leading Saccos in the country.
When it started, Telepost Sacco had fewer than 100 members, with a minimum monthly contribution of just Ksh 20 and a registration fee of Ksh 5. Today, the Sacco boasts a much larger membership, and the minimum monthly contribution has grown to Ksh 2,000 for normal shares, Ksh 500 for education shares, and Ksh 300 for the benevolent fund. This growth underscores the Sacco’s capacity to provide financial solutions to a diverse range of members.
In 1999, the Sacco rebranded as Telepost following the restructuring of KP&TC into three distinct entities: Communication Commission of Kenya (now the Communications Authority of Kenya), Telkom Kenya, and Postal Corporation of Kenya. This restructuring allowed Telepost Sacco to expand its reach beyond just postal employees, making it accessible to a wider audience.
Telepost Sacco Membership Eligibility
Telepost Sacco prides itself on being open to a broad spectrum of individuals and organizations. Membership is open to:
- Employees of Telepost Sacco Society
- Telkom Kenya employees
- Postal Corporation of Kenya (Posta Kenya) employees
- Employees of Career Direction Limited
- Human Capital Synergies employees
- Multimedia University employees
- Members from other private organizations
- Private individual members
- Chamas (informal investment groups)
- Corporates
- Non-core bond members (individuals not directly related to the above sectors but seeking membership)
- Spouses and dependents of current members
This extensive eligibility criterion reflects Telepost Sacco’s commitment to inclusivity, offering membership opportunities not only to employees of the founding institutions but also to the general public, making it a viable option for individuals and organizations looking for robust financial services.
Telepost Sacco Membership Requirements
To become a member of Telepost Sacco, applicants must meet the following requirements:
- Application Form: Prospective members must fill out a membership application form. The form can be downloaded from the Sacco’s website or obtained at the Sacco offices or from delegates stationed across various counties.
- National ID and Photograph: Applicants must attach a copy of their National ID and a recent passport-sized photograph to the application form.
- Entrance Fee: A one-time entrance fee of Ksh 1,000 is required to join the Sacco.
- Monthly Contribution: Members are expected to make a minimum monthly contribution of Ksh 2,000 towards normal shares. Additionally, Ksh 300 is required for the Telepost Benevolent Fund, which supports members and their families during challenging times such as bereavement.
Benefits of Telepost Sacco Membership
Telepost Sacco offers a wide range of benefits to its members, ensuring that their financial needs are met with competitive products and services:
- Attractive Dividends on Shares: Members earn dividends on their shares based on the Sacco’s financial performance, providing a steady source of income.
- Interest on Deposits: Telepost Sacco offers competitive interest rates on member deposits, ensuring that savings grow over time.
- Competitive Savings Accounts: The Sacco offers special deposit accounts, including holiday and children accounts, with attractive interest rates. These accounts are tailored to suit members’ various saving needs, including retirement planning.
- Loan Access: Members can access short-term and long-term loans with competitive interest rates. High savings also enable members to qualify for larger loans and require fewer guarantors to secure personal loans.
- Flexible Savings Options: The Sacco provides several saving options, including opportunities to save for specific goals such as vacations, children’s education, and long-term financial security.
Telepost Sacco Contact Information
For any inquiries or additional information, you can contact Telepost Sacco through the following channels:
- Location: City Square Post Office, 5th Floor, Haile Selassie Avenue, Nairobi.
- Contact: 020 502 9200
Telepost Sacco continues to offer reliable financial solutions to a broad range of members, maintaining a legacy that spans over five decades. Its commitment to providing savings and credit services tailored to the needs of its diverse membership ensures that it remains one of Kenya’s most trusted Saccos. With attractive loan packages, savings options, and inclusive membership criteria, Telepost Sacco is a solid financial partner for individuals and organizations alike.
