Defence Savings and Credit Cooperative Society (DESACCO) was officially registered under the Co-operative Society Act (Cap 490) on April 10, 2019. Established by the leadership of the Kenya Defence Forces (KDF), Defence Sacco was created to address the need for a structured saving culture and reliable, affordable credit facilities among service personnel. The Sacco’s mission is to improve the socio-economic status of its members by adhering to cooperative principles and values, while ensuring financial empowerment.
Defence Sacco Membership Eligibility
Membership in Defence Sacco is exclusive, with a closed bond that includes:
- Serving Military Personnel – Members of the Kenyan Defence Forces who are currently serving.
- Veterans – Former military personnel who have retired or completed their service with the KDF.
Membership requires the completion of an application form. This form can be downloaded from the Sacco’s official website, printed, or obtained from the pay offices, welfare offices, or the unit chief clerk.
Defence Sacco Membership Requirements
To become a member of Defence Sacco, the following are mandatory:
- Registration Fee: Kshs 500.
- Monthly Deposit: Minimum contribution of Kshs 3,000.
- Share Capital: Kshs 20,000, which serves as an ownership stake in the Sacco.
- Account Maintenance Fee: Kshs 1,000 for Sharia-compliant accounts.
- Sink Fund Contribution: Kshs 300.
Defence Sacco Products
Defence Sacco offers a variety of financial products through its Back Office Services Activity (BOSA) and Front Office Services Activity (FOSA), designed to meet the unique financial needs of its members.
(a) BOSA Products
- Emergency Loan
- This loan is designed to help members meet urgent financial obligations during emergencies.
- Personal Loan
- Tailored to support members with general financial needs, allowing flexibility in its usage.
- Karibu Loan
- Exclusively available to new members, this loan provides immediate access to credit upon joining.
- Elimu Loan
- A loan facility that helps members cover education expenses, such as school fees for their children or themselves.
- Development Loan
- Offers affordable credit to support members’ long-term development projects, such as home construction or business ventures.
- Premier Loan
- Tailored for members who need larger sums of money with extended repayment periods.
- Sharia Loan
- This product is specifically designed to comply with Islamic principles for Muslim members.
(b) FOSA Products
- FOSA Current Account
- Operates like a standard savings account with a minimum balance of 0 and no monthly charges. Members with BOSA loans below Kshs 1 million will have the funds credited to this account. FOSA account holders are eligible for Defence Sacco’s m-banking services.
- Okoa Cash
- A quick financial solution for urgent financial needs, designed to meet short-term cash flow issues.
- Salary in Advance
- This mobile loan facility provides members with financial relief when they need cash ahead of their salary. The repayment period can be longer compared to other short-term loans.
- Salary Advance
- Specifically designed to support members before they receive their full salary.
- FOSA Personal Loan
- An unsecured loan product that helps members meet personal financial needs without the requirement of collateral.
Defence Sacco provides an array of financial services that are tailored to meet the needs of serving military personnel and veterans. With affordable loan options and flexible repayment periods, members can manage their finances effectively, improve their savings culture, and access credit at competitive rates. The Sacco’s membership requirements are clear, and it offers a supportive financial environment for KDF members to achieve their personal and professional financial goals.
For more information, Defence Sacco can be reached through:
Location: Ulinzi House, Lenana Road, Hurlingham, Nairobi.
Phone: 0205 134 900 / 0793 281 989.
