Acumen Sacco Membership Eligibility & Requirements. Acumen Savings & Credit Co-operative Society, known as Acumen Sacco, was registered on March 5, 2008, to meet the financial needs of its members. Initially formed by landlords in Ongata Rongai, Ngong, and Kiserian with properties managed by Acumen Properties Ltd, the Sacco has since opened its membership to a wider audience. This expansion began in 2012, and today, Acumen Sacco boasts a diverse membership, including public service employees, disciplined forces, farmers, salaried individuals from both the public and private sectors, and business people. The Sacco currently has approximately 2,376 members and assets worth Kshs 400 million.
Membership Eligibility
Acumen Sacco is open to any Kenyan individual or corporate entity registered under Kenyan laws, engaging in legitimate business or earning a living legitimately in Kenya.
Membership Requirements
To become a member of Acumen Sacco, prospective members must:
- Application Form: Complete a membership application form, available on the Sacco’s website or at their office.
- Identification: Provide a copy of their National ID, passport, or military ID.
- Fees: Pay a registration fee of Kshs 1,000 and an initial share capital contribution of Kshs 5,000. The share capital can be accumulated over time.
- Processing: Submit the application for processing at the Sacco office. Upon successful processing, the new member will receive an SMS alert with their member number.
Products and Services
Acumen Sacco offers a variety of products and services to cater to the financial needs of its members. These include loan products and savings products.
Loan Products
- Development Loan
- Emergency Loan
- School Fees Loan
- Quick Loan
- Sambaza Loan
- J-sort Loan
- Real Estate Loan
Savings Products
- Fixed Deposit Account
- Holiday Account
- Savings Account
- School Fees Saving
- Children Account
Membership Withdrawal Process
To withdraw membership from Acumen Sacco, a member must:
- Written Notice: Submit a written notice of 60 days to the society, declaring their intention to withdraw.
- Outstanding Loans: Ensure that all outstanding loans are fully repaid.
- Guarantorship: Confirm that they are free of any guarantorship obligations.
Contact Information
Acumen Sacco is located at Great Wide Mall, 2nd Floor, opposite Cleanshelf Supermarket in Ongata Rongai. For more information or inquiries, members can contact Acumen Sacco at:
- Phone: 0713 805 770 / 0771 878 920
This comprehensive guide provides an overview of the eligibility criteria, requirements, and the various financial products offered by Acumen Sacco, making it easier for prospective members to understand the benefits and process of joining the Sacco.
