Overview
Founded in 1968 by 200 forward-thinking teachers in Taita-Taveta County, Qwetu Sacco began as a collective effort to pool salaries for financial and social growth. Officially registered in 1976, the Sacco has achieved significant milestones, including the introduction of Front Office Service Activity (FOSA) in 2000 and a micro-credit section in 2003. With an asset base of KES 3.22 billion as of 2025, Qwetu Sacco is among Kenya’s leading deposit-taking Savings and Credit Co-operative Societies. Its head office is located at Tatecoh Building in Wundanyi Town.
Who Can Join?
Qwetu Sacco operates an inclusive membership model, welcoming all Kenyan citizens who share its vision of financial empowerment. Membership is open to individuals and groups from various sectors, fostering a diverse community of savers and borrowers.
Membership Requirements
To become a member of Qwetu Sacco in 2025, applicants must:
- Open and maintain a FOSA account with a minimum balance of KES 1,000
- Pay a one-time membership fee of KES 500
- Contribute a minimum share capital of KES 15,000
- Make monthly contributions to long-term deposits
- Contribute KES 200 monthly to the Member Protection Scheme (MPS)
- Contribute KES 200 monthly to the Risk and Retirement Fund (RRF)
- Actively use the Sacco’s products and services
Member Welfare Programs
Qwetu Sacco offers robust welfare benefits through its Member Protection Scheme (MPS) and Risk and Retirement Fund (RRF), designed to support members and their families during challenging times.
Welfare Requirements
- Be an active member with consistent contributions
- Maintain monthly contributions of KES 200 for both MPS and RRF
- Contribute for at least six months to qualify for benefits
- Designate and update nominees as needed
- For MPS claims, provide a certificate of death or proof of total incapacitation
- For RRF claims, submit a retirement letter or death notification with proof of relationship
Welfare Benefits
- Member Protection Scheme (MPS)
- Clears all outstanding loans and balances upon a member’s death or total incapacitation
- Pays next of kin double the member’s BOSA deposits upon death
- Provides a KES 50,000 funeral rider to the next of kin for a deceased member
- Risk and Retirement Fund (RRF)
- Awards KES 28,500 to members upon retirement
- Offers KES 7,500 as consolation upon the death of a member’s spouse
- Provides KES 56,500 to the next of kin upon a member’s death
Membership Benefits
Joining Qwetu Sacco in 2025 offers:
- Access to a variety of savings and loan products tailored to individual and group needs
- Financial security through welfare programs like MPS and RRF
- Opportunities to grow wealth through consistent savings and competitive interest rates
- A supportive community focused on economic and social empowerment
- Modern banking services, including FOSA and micro-credit facilities
Contact Information
For inquiries or to start your membership journey, contact Qwetu Sacco:
Head Office: Tatecoh Building, Wundanyi Town, Taita-Taveta County
Contacts: 0728 957 585 / 0728 536 169
Email: [email protected]
RELATED TOPIC: Qwetu Sacco: Branch, Financial Products, and Contact Information
