Hazina Sacco Membership and Requirements to Join

What To Expect.

Hazina Sacco Society Limited is a financial cooperative based in Kenya. Saccos, short for Savings and Credit Cooperative Organizations, are member-owned institutions that provide financial services to their members. Hazina Sacco is one such organization that primarily serves employees of the National Treasury, County Governments, and other public institutions in Kenya.

As a Sacco, Hazina Sacco aims to promote a savings culture and provide credit facilities to its members. The society encourages members to save regularly, which helps build a pool of funds that can be used to provide loans to members at competitive interest rates.

Hazina Sacco offers various types of loans, including development loans, emergency loans, school fees loans, and asset financing.

Hazina Sacco was registered in 1971 under the Co-operative Societies Act (Cap 490) of the laws of Kenya as a Savings & Credit Co-operative Society.

In addition to savings and credit services, Hazina Sacco also offers other financial products such as insurance services, investment opportunities, and financial education to its members. These additional services aim to enhance the financial well-being and security of the members.

It’s important to note that specific details and offerings of Hazina Sacco Society Limited may have changed since my last knowledge update in September 2021. For the most accurate and up-to-date information, it’s recommended to directly contact Hazina Sacco or visit their official website.

Hazina Sacco provides a variety of services through Back Office Services Activity (BOSA) and Front Office Savings Activity (FOSA).

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Hazina Sacco Membership Eligibility

Any person can join Sacco from all the segments of the market including;

Public service employees.
Other government ministries and parastatals.
Employees of Hazina Sacco.
National government and county employees.
Employees of private organizations and parastatals.
Private individual members.
Chamas and corporates.

Hazina Sacco Membership Requirements

(a) Individual Membership

Individuals interested in joining the Sacco will be required to fill in a membership application form which can be downloaded from the Sacco’s website and then forwarded to its office together with the;

A copy of the National Identity Card (ID).
A passport-size photograph.
Correct payslips for members contributing through the check-off system.
Filled nominee form.
Pay an entrance fee of Kshs 1,000.
Make a minimum monthly contribution of Kshs 1,000 or 5% of the basic salary, whichever is higher.
Take up the minimum share capital with the first 12 months of membership. The minimum share capital as of 31st December 2021 was Kshs 16,000.
Subsequently, every member shall continue to contribute Kshs 1,000 annually.
Contribute Kshs 200 monthly to the welfare fund. The fund covers the death of the principal member, spouse, 2 children per year, and biological parents.

(b) Group Membership

Each group must be registered by the Registrar of Societies. The registration certificate must have a current stamp stamped within the year by the social service.
Each group member must be a Kenyan citizen aged 18 years and above.

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Group Membership Requirements

The group is required to fill out the membership application form and attach the following;

Entrance fee of Kshs 3,000. The group shall save a minimum of Kshs 5,000 per month in deposit.
Minutes listing all members with members’ signatures authorizing the officials to join the Sacco.
Group constitution.
Group registration certificate.
Copies of National ID for group officials and the group members.
A passport photograph for group officials.
KRA PIN for each group official.
Home address for each group member.
Each group must have 4 signatories to the account, 3 group officials, and one group member.