Jumuika Sacco: Branch Network and Financial Services Overview

Overview

Jumuika Sacco, originally established on March 7, 1970, as Chemelil Savings & Credit Cooperative Society, began with 50 members, primarily employees, contractors, sugarcane farmers, transporters, and outgrowers linked to Chemelil Sugar Company. In 2001, the Sacco launched its Front Office Service Activity (FOSA) to provide banking services like salary processing and savings accounts. Rebranded in 2014, Jumuika Sacco expanded its reach to serve a broader community. Licensed by the Sacco Societies Regulatory Authority (SASRA) in 2012, it is a leading deposit-taking Sacco with an asset base of KES 0.22 billion. Headquartered at Chemelil Sports Complex in Awasi Town, the Sacco offers a range of financial products to empower its members.

Membership Eligibility

Jumuika Sacco welcomes a diverse membership, including:

Teachers employed by the Teachers Service Commission (TSC)
County and national government employees
Staff of private institutions and NGOs
Farmers
Business owners
Jua kali artisans, market vendors (mama mboga), and boda boda operators
Welfare groups, youth groups, and women’s groups

This inclusive approach ensures that individuals and groups from various sectors can access financial services.

Membership Requirements

To join Jumuika Sacco, applicants must:

Complete a membership application form, available at Sacco branches or online
Submit a copy of a National ID
Provide a recent passport-size photograph
Pay a one-time registration fee (specific amount not listed; contact the Sacco for details)

The process is designed to be straightforward, encouraging broad participation.

Membership Benefits

Joining Jumuika Sacco provides:

Access to affordable loans with interest rates as low as 8.13% per year
Flexible savings accounts for personal and group needs
Convenient banking services through FOSA, including ATM and mobile banking
Support for financial goals, from education to business growth
Community-focused financial empowerment for individuals and groups

Financial Products and Services

Jumuika Sacco offers a comprehensive suite of Back Office Service Activity (BOSA) and Front Office Service Activity (FOSA) products, along with micro-credit loans, to meet members’ needs.

BOSA Products

Loan Products

Normal/Development Loan: For personal or business development
Emergency Loan: For urgent financial needs
Education Loan: To cover school fees and educational expenses
Premium Loan: Larger loan amounts for significant needs
Introductory Loan: For new members
Re-finance Loan: To restructure existing loans
Pepea Loan: Flexible, quick-access financing

The Sacco disburses an average of KES 8.7 million in loans monthly, with a current loan balance of KES 146,364,605.

Front Office Service Activities (FOSA)

Salary Processing: Efficient management of salary payments
Cheque Clearance: Secure cheque processing
Farmers Advance Payment: Quick access to funds for farmers

Savings Accounts

Fixed Deposit Account: High-yield savings with fixed terms
Salary Advance: Short-term credit linked to salary
Salary Account: For salaried employees
Toto Savings Account: Savings for children
Holiday Savings Account: For vacation or festive expenses

Micro-Credit Loans

Designed for groups such as women’s groups, youth groups, welfare groups, chamas, and merry-go-rounds
Supports collective financial goals with accessible credit

Branch Network and Contacts

Jumuika Sacco operates three branches to serve its members:

Head Office
Location: Chemelil Sports Complex, Awasi Town
Phone: 0100 312 144
Email: [email protected]
Awasi Branch
Location: Awasi Town
Phone: 0727 588 017
Ndhiwa Branch
Location: Ndhiwa
Phone: 0723 486 545