Overview
Established in 1980 under Kenya’s Co-operative Societies Act, Waumini Sacco is a leading deposit-taking Savings and Credit Co-operative Society dedicated to empowering its members economically and socially. With a membership exceeding 40,000 from Catholic institutions across Kenya’s 26 dioceses, the Sacco serves Catholic faithful, their families, and related organizations. Boasting an asset base of over KES 6.34 billion, Waumini Sacco is one of Kenya’s largest and most progressive Saccos. Its head office is located at the Applewood Adams Building on Ngong Road, Nairobi.
Who Can Join?
Waumini Sacco welcomes members from the following groups:
- Employees of Catholic-based organizations
- Catholic faithful across Kenya
- Spouses and children of Catholic faithful and employees of Catholic-based organizations
- Corporate institutions and groups, including chamas
Membership Requirements
To join Waumini Sacco, applicants must meet specific criteria based on whether they are applying as individuals or corporate entities.
Individual Membership
- Introduction Letter: Provide a letter from your employer or, for Catholic faithful, a form signed by your parish priest.
- Registration Fee: Pay a one-time, non-refundable fee of KES 500.
- Share Capital: Contribute KES 15,000, payable in installments of KES 500 monthly. This amount is non-refundable but earns dividends and is transferable upon membership withdrawal.
- Monthly Contributions: Maintain a minimum monthly deposit of KES 500 and contribute KES 100 to the Insurance Risk Fund.
Corporate Membership
- Registration Fee: Pay a one-time, non-refundable fee of KES 5,000.
- Share Capital: Contribute KES 10,000, which is non-refundable but transferable to another institution or individual.
- Documentation: Submit an introduction letter or minutes with a resolution to open an account, a recommendation letter from a bishop or congregation head (if applicable), and a completed form with authorized signatories’ details.
Membership Benefits
Joining Waumini Sacco offers a range of financial advantages, including:
- Efficient payroll and salary processing
- Fast loan processing and disbursements
- Competitive interest rates on loan products
- Short savings period of three months
- Flexible loan repayment terms of up to five years
Contact Information
For inquiries or to start your membership journey, contact Waumini Sacco:
Head Office: Applewood Adams Building, 2nd Floor, Ngong Road, Nairobi
Contacts: 0709 052 000 / 0728 606 059 / 0734 666 226
READ MORE: Waumini Sacco Branch Network and Contact Information