Overview
Founded on May 17, 1977, by accounting staff of Unilever Tea Kenya Limited (now Ekaterra Tea), Simba Chai Sacco began as Kericho Hesabu. In 2009, members voted to rename it Simba Chai Sacco. Regulated by the Sacco Societies Regulatory Authority (SASRA), it is a leading deposit-taking Savings and Credit Co-operative Society in Kenya, with an asset base exceeding KES 1.96 billion. Headquartered at Brooke Centre in Kericho Town, the Sacco serves a diverse membership with a range of financial products.
Who Can Join?
Simba Chai Sacco welcomes a broad membership, including:
- Permanent employees of Ekaterra Tea (formerly Unilever Tea)
- Farmers
- Business owners
- Corporate clients
- Schools
- Micro-credit groups and chamas
Membership Requirements
To become a member, applicants must meet the following criteria:
- Pay a one-time entrance fee of KES 1,000
- Purchase at least 100 shares at KES 20 each, totaling KES 2,000
- Be at least 18 years old
- Reside or own land within the Sacco’s operational area
- Be employed or operate a business within the Sacco’s area
- Be an employee of the Sacco or its related investments
- Be an immediate family member of a primary member
- Demonstrate good character and sound mind
- Complete a membership application form
Membership Benefits
Joining Simba Chai Sacco offers:
- Access to affordable loans and competitive savings products
- Financial services tailored to personal, educational, and business needs
- Opportunities to invest in reputable institutions
- Convenient banking through mobile and FOSA services
- Support for long-term financial goals, including retirement and education planning
Financial Products and Services
Simba Chai Sacco provides a comprehensive suite of Back Office Service Activity (BOSA), Front Office Service Activity (FOSA), savings, and investment products.
BOSA Products
- Normal Loan: General-purpose financing
- School Fees Loan: For educational expenses
- Hybrid Savings: Combined savings and loan product
- Emergency Loan: For urgent needs
- Loan Difference: To top up existing loans
- Instant Loan: Quick-access credit
- Holiday Savings: For vacation planning
- School Fees Savings: Dedicated education savings
- Leave/Retirement Savings: For retirement or leave planning
FOSA Products
- Savings Account: General-purpose savings
- Fixed Deposit Account: High-yield savings with fixed terms
- Overdraft Facilities: Short-term credit access
- Simba Junior Account: Savings for children
- Corporate Account: For businesses and institutions
- Salary Processing: Efficient salary management
- Salary Advance: Quick credit for salaried members
- Sacco Link: Integrated banking services
- Laptop Loan: For purchasing laptops
- M-Pesa and M-Banking: Mobile banking solutions
- Flex Salary Advance: Flexible salary-based credit
- Solar Products: Financing for solar solutions
- Bankers Cheque: Secure payment option
Savings Products
- FOSA Savings: Flexible savings account
- Holiday Savings: For vacation expenses
- School Fees Savings: For education costs
- Salary Processing: Streamlined salary savings
Investments
- Safaricom SIMEX: Investment in Safaricom shares
- Shares in KCB: Investment in Kenya Commercial Bank
- Shares in Co-operative Bank: Investment in Co-op Bank
- Shares in KUSCCO: Investment in Kenya Union of Savings and Credit Co-operatives
- Shares in CIC: Investment in CIC Insurance Group
Contact Information
For inquiries or to start your membership journey, contact Simba Chai Sacco:
Head Office: Brooke Centre, Kericho Town
Phone: 0708 005 555 / 0722 232 507
Email: Not provided; check the Sacco’s website for details
