Overview of Ollin Sacco
Established on June 14, 1976, Ollin Sacco Society has grown from a modest group of 163 members to a vibrant community of over 27,000 active members. As one of Kenya’s leading deposit-taking Saccos, it boasts an asset base exceeding KSh 8.18 billion. Notably, Ollin Sacco pioneered the introduction of Front Office Service Activity (FOSA) in 1995, making it the first Sacco in Kenya and Africa to offer this service.
Who Can Join Ollin Sacco?
Ollin Sacco welcomes a diverse range of individuals and groups, including:
- Primary, post-primary, and secondary school teachers
- Teachers Service Commission (TSC) secretariat staff
- Retired teachers
- Public officers in government ministries
- Employees of the Sacco
- Workers in private institutions
- Members of the business community
This inclusive approach ensures that a wide variety of professionals and entrepreneurs can benefit from the Sacco’s offerings.
How to Become a Member
Joining Ollin Sacco is straightforward and accessible. The requirements are:
- Complete the membership application form, available on the Sacco’s official website.
- Submit a copy of your ID or passport and a passport-sized photograph.
- No membership fee is required, making it easy to get started.
Benefits of Membership
Members of Ollin Sacco enjoy a range of financial advantages, including:
- Access to affordable loans up to five times your savings.
- High dividend payouts at 17.5% on share capital.
- Competitive interest rates on deposits, up to 12%.
- Fast loan processing with no delays.
- Low loan interest rates, calculated at 1% on a reducing balance.
- Salary advance loans of up to KSh 2,000,000.
- Flexible loan repayment terms, extending up to 96 months.
- Convenient 24/7 banking through Spotcash (*645#) and the Ollinkash app.
Products and Services
Ollin Sacco offers a variety of savings and loan products tailored to meet diverse financial needs.
Savings Products
- Personal Savings Accounts
- Ordinary savings account for everyday banking.
- Fixed deposit account for secure, long-term savings.
- Call deposit account for flexible access to funds.
- Joint and Business Accounts
- Joint accounts for shared financial goals.
- Group savings accounts for community or group savings.
- Business accounts for entrepreneurs and organizations.
- Future Savings Accounts
- Stop gap account for short-term financial needs.
- Education scheme account to plan for academic expenses.
- Mapato savings account for structured savings growth.
Loan Products
- Long-term Loans
- Capital loan for significant investments.
- Investment loan for business or asset growth.
- Development loan for personal or professional projects.
- Prime loan for major financial needs.
- Ollin premium loan for premium members.
- Estate loan for property-related goals.
- Supa loan for versatile financing.
- FOSA loan for quick access to funds.
- Short-term Loans
- Emergency loan for urgent needs.
- Education loan for school-related expenses.
- Fanikisha loan for immediate financial support.
- Salary advance loan for quick cash flow.
- Alpha loan for flexible short-term borrowing.
- Business loan for entrepreneurial ventures.
- Stop gap loan for temporary financial gaps.
- Pamoja loan for collaborative group financing.
Contact Information
For more details or to start your membership journey, reach out to Ollin Sacco:
Head Office: Kerugoya-Kiang’ombe Road, Kerugoya Town
Phone: 0724 256 461
Why Choose Ollin Sacco?
Ollin Sacco stands out for its member-focused approach, offering competitive financial products, accessible services, and a legacy of trust. Whether you’re saving for the future or seeking affordable financing, Ollin Sacco provides the tools to achieve your goals.
READ MORE: Solution Sacco Branches in Kenya, Services and Membership
