Shoppers Sacco: Membership Eligibility, Benefits, and How to Join
Shoppers Sacco is a licensed deposit-taking cooperative society established in 1993 with a mission to enhance the social and economic welfare of its members. Over the years, it has grown significantly, expanding its services to meet the evolving needs of its members.
In 2011, the SACCO introduced Front Office Services Activity (FOSA), enabling members to access a wider range of banking services. What began with just 100 members has now flourished into a robust financial institution with over 19,000 members.
As of its latest financial reports, Shoppers Sacco boasts an impressive asset base of Kshs 610 million, a loan portfolio worth Kshs 0.84 billion, and total deposits amounting to Kshs 0.3 billion.
Who Can Join Shoppers Sacco?
Membership is open to all Kenyan citizens, whether applying as individuals or groups. The SACCO welcomes anyone looking to grow their savings and access affordable financial services.
Membership Requirements
To become a member, applicants must fulfill the following:
- Complete the Membership Form – Available for download on the SACCO’s official website.
- Provide Two Passport-Sized Photos – Recent photographs are required for identification.
- Submit a Copy of National ID or Passport – A valid identification document is mandatory.
- Pay a Non-Refundable Joining Fee – New members are required to pay Kshs 500, which can also be deducted from their first contribution via payroll.
- Rejoining Fee – Former members who wish to rejoin must pay a rejoining fee of Kshs 1,500.
Why Join Shoppers Sacco?
Becoming a member comes with numerous advantages, including:
- Encouragement of Savings – The SACCO promotes a disciplined savings culture, helping members manage their finances better.
- Convenient Access to Funds – Members can withdraw and manage their money through SACCO-link ATM cards, mobile banking, and e-banking platforms.
- Financial Empowerment – Members gain access to investment opportunities and financial education.
- Affordable Loan Facilities – Competitive loan products are available with interest rates as low as 1% per month on a reducing balance.
- Dividends & Interest Earnings – Members earn guaranteed interest on deposits and dividends on share capital, as approved during the Annual General Meeting (AGM).
- Benevolent Support – The SACCO provides burial expense coverage for members and their immediate families.
Contact Information
For inquiries or assistance, visit any of the following branches:
Nairobi Branch
📍 Location: Nature House, Ground Floor, Tom Mboya Street, Nairobi.
📞 Contacts: 0730 780 000 / 0730 780 136
Nakuru Branch
📍 Location: Baraka Plaza, 2nd Floor, Kenyatta Avenue, Nakuru Town.
📞 Contact: 0730 780 000
By joining Shoppers Sacco, members not only secure their financial future but also become part of a growing community dedicated to mutual economic growth. Start your membership journey today and enjoy these exclusive benefits!
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