Tabasamu Sacco: Membership Eligibility, and Financial Services

Tabasamu Sacco: Membership Eligibility and Financial Offerings

Established on February 18, 1977, Tabasamu Sacco was officially registered under the Co-operative Societies Act (Registration No. 2635). In 2014, it gained authorization as a deposit-taking Sacco under the Sacco Societies Regulatory Authority (SASRA). With a robust asset base of Kshs 1.05 billion, the Sacco continues to provide reliable financial solutions to its members.

Who Can Join Tabasamu Sacco?

Membership is open to the following individuals and groups:

• Teachers from public and private institutions.
• County government employees.
• Private sector workers.
• National government employees (ministries and parastatals).
• Organized groups, including youth and women associations.
• Immediate family members of existing Sacco members.

Membership Requirements

To become a member, applicants must fulfill the following conditions:

1. Pay a one-time non-refundable entrance fee of Kshs 500, as stipulated in the Sacco’s bylaws.
2. Maintain a minimum monthly deposit of Kshs 1,000.
3. Purchase shares in the following classes:
   • Class A: 500 shares at Kshs 20 each
   • Class B: 300 shares at Kshs 20 each
   • Class C: 50 shares at Kshs 20 each
4. Submit a duly filled membership application form for review.
5. Employer introduction and commitment to check-off system deductions (for salaried employees).

Financial Products and Services

Savings & Deposit Accounts

• Current/Salary Account – For seamless salary processing.
• Biashara Savings Account – Tailored for business owners.
• Premium Savings Account – High-yield savings option.
• Fixed Deposit Account – Earn interest on locked savings.
• Minor Savings Account – Designed for young savers.
• Seasonal Savings – Includes Ramadhan, Christmas, and Group Savings Accounts.

Loan Facilities

• Development Loan – For long-term investments.
• Emergency Loan – Quick financial assistance.
• Personal Loan – Flexible borrowing for personal needs.
• Salary Advance – Short-term cash flow support.
• Biashara Loan – Business expansion financing.
• Specialized Loans – Including Jipange, Jiinue, Karibu, and Jienjoy products.

ATM Services

• Cash withdrawals & balance inquiries.
• Bill payments (fuel, utilities, hospital bills).
• Mini-statements & retail transactions.
• Hotel and subscription payments.

Additional Services

• Bankers Cheque issuance.
• Cheque encashment.
• Dividend processing & advance loans.
• Electronic funds transfers (EFT & RTGS).
• Standing order setups.

Contact Information

Head Office: Tunawiri House, Kwale.
Phone: 0702 599 292 / 0792 773 444

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