Newfortis SACCO: Products, Membership Requirements, and Branch Network Across Kenya
Established in 1976, Newfortis SACCO—formerly Nyeri Teachers SACCO—is a well-established deposit-taking SACCO in Kenya. With over 40 years of experience, the SACCO has grown from a membership base drawn mainly from the teaching profession to a vibrant community of more than 17,720 members from various sectors. These include civil servants, entrepreneurs, private institutions, churches, farmers, microfinance groups, and many others.
With an asset base exceeding Ksh 10.19 billion, Newfortis SACCO ranks among Kenya’s largest and most trusted SACCOs.
How to Join Newfortis SACCO
To become a member, you need to meet the following criteria:
- Complete the official membership application form
- Pay a one-time membership fee of Ksh 1,000
- Contribute a minimum share capital of Ksh 2,000
- Make monthly deposit contributions of at least Ksh 1,000
- Pay a monthly risk fund fee of Ksh 200
Products Offered by Newfortis SACCO
A) BOSA Products (Back Office Services)
These products are tailored for long-term savings and credit access, where members save and can borrow against their contributions.
Eligibility:
- Consistent deposits for at least 6 months
Available BOSA Loans:
- Emergency Loan
- Up to Ksh 60,000
- 12-month repayment period
- Interest: 0.54% per month
- Requires 4 guarantors
- No documentation needed
- Disbursed daily
- Preferential Loan
- Borrow up to 5x your deposits
- Up to 84 months repayment
- Interest: 6.5% per annum
- Dividends converted to shares
- Approval within 72 hours
- Development Loan
- Similar to the Preferential Loan, ideal for long-term goals
- School Fees Loan
- Based on repayment ability
- Repay within 12 months
- Interest: 0.54% monthly
- Disbursed daily, no documentation
- Pride Loan
- Does not rely on shares
- 42-month repayment
- Interest: 0.7% monthly (capitalized)
- Fast approval in 30 minutes
- Risk Management Program
- Members contribute Ksh 200 monthly
- Offers Ksh 40,000 for funeral expenses
- Refunds 2x deposits and waives outstanding loans in case of death
- Offers a Ksh 5,000 retirement refund
- Retirement Package
- Encourages continued membership post-retirement
- Allows access to loans and pension payments
- Lainisha BOSA Loan
- Based on ability to repay
- Repay within 54 months
- Interest: 0.7% flat rate per month
- Requires 4 guarantors
- Fast approval in 30 minutes
- For check-off members or with collateral for large amounts
B) FOSA Products (Front Office Services)
FOSA operates like a regular bank, offering a range of short-term loans and savings options.
Eligibility:
- Must be a BOSA member
- Salary should pass through Newfortis FOSA for at least 3 months
Available FOSA Loans and Services:
- Jiinue Loan
- Up to 66 months repayment
- Interest: 0.7% per month
- Requires 4 guarantors
- School Fees Cheques
- Processed in under 10 minutes
- Ksh 100 for members, Ksh 200 for non-members
- Accepted locally and abroad
- Safe Custody Services
- Annual fee: Ksh 300
- Document retrieval upon written request
- Christmas Savings Account
- Save from Ksh 200 monthly
- Withdrawals allowed during festive season
- Earns market-based interest
- Premier Loan
- Repayable in 42 months
- Interest: 0.7% per month
- 30-minute approval
- Fanikisha Loan
- Repay in up to 36 months
- Interest: 0.6% per month
- Requires 4 guarantors
- Mwalimu Special Package
- Designed for teachers
- 24-month repayment
- Interest: 0.625% monthly
- Fast 30-minute approval
- Special Advance
- Helps members clear outstanding loans
- Salary Processing
- Commission: Ksh 100 per transaction
- Salary Advance
- 12-month repayment
- Interest: 0.83% per month
- Available to members with salary passing through FOSA
- Fixed Deposit Account
- Minimum: Ksh 30,000
- Duration: At least 3 months
- Negotiable interest
- Savings Account
- Minimum balance: Ksh 1,000
- No ledger fees
- Requires ID and 2 passport photos
- M-Loan (Mobile Loan)
- Instant approval via Fortis Cash mobile platform
- No guarantors or paperwork needed
- Repay within 1–3 months
- Flat interest: 10%
Newfortis SACCO Branches in Kenya
- Head Office – Nyeri
- Location: Newfortis Building, Off Kenyatta Road, Behind Cooperative Bank
- Phone: 0725 349343
- Email: [email protected]
- Nairobi Branch
- Location: Junction Trade Centre, 5th Floor
- Phone: 0725 349343
- Nanyuki Branch
- Location: Next to Standard Chartered Bank, off Lumumba Road
- Phone: 0725 349343
- Othaya Branch
- Location: Muoni Building, off Othaya–Kiriaini Road
- Phone: 0725 349343
- Karatina Branch
- Location: Next to Wananchi SACCO, Karatina Town
- Phone: 0725 349343
If you’re looking for a stable, well-managed SACCO that offers tailored financial services and fast loan approvals, Newfortis SACCO stands out as a strong choice for both salaried and self-employed individuals across Kenya.
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