Lengo Sacco: A Trusted Financial Institution Since 1976
Lengo Sacco has been a pillar of financial stability since its registration on 24th March 1976. Originally formed by employees of the former Malindi Municipal Council, it has grown into a robust financial institution serving Kenyans nationwide.
In 2012, the SACCO received official licensing from SASRA (Sacco Societies Regulatory Authority), authorizing it to operate as a deposit-taking entity. Today, Lengo Sacco boasts an impressive asset base of Kshs 480 million, demonstrating its financial strength and reliability.
Who Can Join Lengo Sacco?
Lengo Sacco has expanded its membership eligibility, making it open to all Kenyan citizens. Whether you are a salaried employee, business owner, student, or trader, you can benefit from its financial services.
Membership Requirements
Joining Lengo Sacco is simple and straightforward:
- Complete the Membership Form – Available on the SACCO’s official website.
- Provide a Copy of Your National ID – For identity verification.
- Submit a Passport-Sized Photo – Recent photograph for official records.
- Pay a Registration Fee – A one-time fee of Kshs 500 is required.
Loan Products
1. Development Loans
- Eligibility: Available to registered members after 6 months of membership.
- Interest Rate: 1.5% per month on a reducing balance.
- Repayment Period: Up to 72 months (6 years).
- Requirements: Three guarantors and a witness.
2. Development Loan Top-Up
- Eligibility: Members currently servicing a development loan who have repaid at least 75% of their existing loan.
- Interest Rate: 1.75% per month.
- Penalty: A 10% charge on the remaining loan balance applies.
3. Somesha Loan (Education Financing)
- Purpose: Supports students in primary, secondary, and college.
- Interest Rate: 1.5% per month on a reducing balance.
- Repayment Period: Up to 48 months (4 years).
Savings Products
1. Jawabu Account
- Features: Flexible access to funds for emergencies.
- Requirements:
- Copy of National ID.
- Passport-sized photo (taken at the branch).
- Minimum balance: Kshs 100.
- Ledger fee: Kshs 500.
- Registration fee: Kshs 500.
2. Lengo Savings Account
- Initial Deposit: Kshs 500.
- Benefits: No account maintenance fees.
- Withdrawal Limit: Once per month.
3. Tunza Junior Account
- Purpose: Encourages a savings culture for children.
- Requirements:
- Child’s birth certificate.
- Parent/guardian’s ID copy.
- Passport-sized photo (taken at the branch).
- Initial Deposit: Kshs 300.
- Withdrawal Fee: Kshs 120.
4. Bakisha Account (For Small Traders)
- Features: No minimum balance required.
- Fees:
- Ledger fee: Kshs 150.
- Registration fee: Kshs 500.
Branches & Contacts
1. Head Office (Malindi)
📍 Location: Stanchart Arcade Building, Malindi.
📞 Contacts: 0715 882 191 / 0707 700 084.
2. Kilifi Branch
📍 Location: Guiness Building.
📞 Contact: 0790 482 091.
3. Mtwapa Branch
📍 Location: Mama Ken Plaza, 3rd Floor.
📞 Contact: 0769 394 450.
4. Mariakani Site Office
📞 Contact: 0759 909 306.
Why Choose Lengo Sacco?
- Regulated & Secure: Licensed by SASRA for safe and transparent operations.
- Diverse Loan Options: Tailored for education, business, and personal development.
- Flexible Savings Plans: Accounts for individuals, children, and traders.
- Nationwide Presence: Multiple branches for convenient access.
Join Lengo Sacco today and take control of your financial future!
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