Kenya Bankers Saving and Credit Co-operative Society recorded 30 years of steady growth on 14TH February 2005. As a mark of achievements made during this period, the Sacco has produced this brochure to update the esteemed members of the various products and services currently available.

Kenya Bankers Savings and Credit Co-operative Society was registered on 14th Feb 1975. The society’s core business is to mobilize savings from the members out of which credit is approved at affordable interest rates. Its members are drawn from banks, non-bank financial institutions, building societies and other money related institutions, with over 13,000 active members.

Vision

To be a leading Sacco in Africa offering the best services and products to our members.

Mission

To mobilize Savings, to avail cheap capital to our members for development and wealth creation through appropriately researched products supported by suitable I.T. System and skilled Human Resource.

Our Core Values

We shall uphold these core values very dearly in our dealings:

• Honesty
• Integrity
• Timeliness
• Fairness
• Respect for others

Membership Eligibility

Requirements

1. Must be an employee of a commercial bank, non-bank financial institutions
2. Financial related services, building societies and other institutions that deal with financial services for example A.F.C, NSSF etc.
3. Insurance Companies

Other Rules:

• No member shall belong to more than one Society at the same time (Dual membership is not allowed).
• To enjoy any of the Sacco facilities – Credit Facilities – a member must have completed at least six [6] months membership with regular contributions of not less Kshs. 6,000/= in share deposits.
• A share capital of Kshs. 5000/- is pulled from each member, made up of 250 shares worth Kshs. 20/- each. The shares are non-refundable but transfferable to other members.
• A notice of 60 days is required for termination of membership from any of the schemes or from the Society in general. Re-admission is after 6 months if the operation of the account was good.
• A member who withdraws from the society and rejoins later [after 6 months] will be treated as a new member for purpose of loan application. Members may enjoy Fosa products immediately but will have to wait for 6 months to qualify for other loans.
• Where a member leaves the common bond by virtue of retirement, he may continue to be a member of the Society or he may transfer all his deposits to another Society that he/she may intend to join under the new employer.
• Defaulters cannot be paid dividend and will also have to relinquish their elective positions if they are delegates.
• Defaults cause severe penalties, including interest surcharge and decline of future loan applications or reduction of your loan entitlement.
• Deadline of remittances to the Sacco is 5th day of every month.

Membership application forms are available here for download or with delegates, at branch offices, as well as at the Society’s head office at 3rd Ngong Avenue.