Joining Ammar Sacco: Eligibility and Member Benefits

Overview

Ammar Sacco, originally founded in December 2004 as All Churches Sacco under the Co-operative Societies Act (Cap 490), rebranded in 2019 to reflect its expanded mission. Licensed by the Sacco Societies Regulatory Authority (SASRA), it introduced Front Office Service Activity (FOSA) in January 2012 to enhance banking services. Based at Elica Plaza, Kwame Nkrumah Street in Thika, Ammar Sacco is dedicated to empowering its members through accessible savings and affordable credit solutions.

Who Can Join?

Ammar Sacco embraces diversity, welcoming members from all walks of life, including:

• Business owners
• Farmers
• Civil servants
• Teachers
• Youth
• Women
• Persons with disabilities

This open membership structure ensures inclusivity for anyone seeking financial growth.

Membership Requirements

To join Ammar Sacco, applicants must:

• Complete an account opening form, available on the Sacco’s website or at its office
• Submit certified copies of a National ID and KRA PIN
• Pay a one-time registration fee of KES 500
• Purchase a minimum of 200 shares at KES 20 each, totaling KES 4,000

Membership Benefits

Joining Ammar Sacco offers:

• Affordable loans with competitive interest rates
• Flexible savings accounts for all ages and needs
• Investment opportunities with attractive returns
• Convenient banking through ATMs and mobile platforms
• Financial empowerment tailored to diverse communities

Financial Products and Services

Ammar Sacco provides a wide range of loan, savings, and investment products to support members’ financial goals.

Loan Products

1. Business Loans

• Repayable within 36 months
• Interest rate: 18% on reducing balance
• Requires 2 active guarantors and adheres to the 2/3 rule

1. Mkulima Loan

• Designed for farmers (e.g., tea, coffee, milk) with payments channeled through the Sacco

1. Mfugo Loan

• Repayable within 24 months
• Supports dairy farmers in acquiring high-quality cow breeds

1. Asset Finance

• Repayable within 36 months
• For purchasing assets like vehicles or equipment

1. Salary Loan

• Available to members with salaries processed through the Sacco

1. Group Loan

• For registered groups to pool savings and access collective financing

Savings Products

1. Ordinary Savings Account

• Unlimited daily access via counter, ATM, or mobile banking
• Withdrawal fee: KES 50
• Minimum balance: KES 300
• No ledger fees
• Free photo capture on account opening

1. Toto/Kids Account

• Free standing order
• No ledger fees
• Minimum balance: KES 200

Investment Products

1. Sacco BOSA Shares

• Open to all members
• One share at KES 20, minimum 200 shares (KES 4,000) within 6 months

1. Sacco FOSA Shares

• Guaranteed interest rates
• Contributions via check-off system

1. Fixed Deposit

• Attractive interest rates
• Terms from 3 to 12 months
• Supports loan applications with special contributions

Contact Information

For inquiries or to start your membership journey, contact Ammar Sacco:

Head Office: Elica Plaza, Kwame Nkrumah Street, Opposite Safaricom Shop, Thika
Phone: 0711 431 590 / 0704 979 246
Email: Not provided; visit the Sacco’s website for further details

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