How to join Safaricom SACCO through the website

How to join Safaricom SACCO through the website. Safaricom Sacco is a Savings and Credit Co-operative Society, which was formed in 2001 to provide members with the opportunity to access loans to develop and improve their economic and social status. It was started with a membership of 222 members, currently with a robust membership of 12,000 members from Safaricom Ltd and other Technology related companies (Over 100) who form our main common bond.

The Sacco’s main role is to empower its members through provision of diversified products and services and has seen a significant growth with an asset base of 6.6Bn. The Sacco is currently regulated by Sacco Society Regulatory Authority (SASRA)

To join Safaricom Sacco through the website, follow these steps:

1. Visit the Safaricom iConnect Web portal to self-register.
2. Fill in your details in the marked fields.
3. Upload the required documents in the correct format as described above.
4. Please review your application and submit it.
5. Click next and enter your Next of Kin personal details.
6. Click next and enter your Remittance details such as employment details, employer name, remittance mode, monthly deposit contributions, etc.

You will then be asked to pay Ksh 1000 or Ksh 7,400 registration fee, monthly deposit, and Share Capital contribution via the Paybill number provided. They will then validate the transaction by entering the Mpesa reference code on the field provided.

Safaricom SACCO Requirements for an Individual (ALPHA MEMBERSHIP)

1. The Membership fee is Kshs.1,000. This is payable via Mpesa at the point of registration.
2. The minimum monthly deposit contribution is Kshs 3,000
3. Minimum Share Capital is 400 shares equity @ Kshs.100 equal to Kshs.40,000.(Payable within 12 months or equivalent to Kshs. 3,334 per month) The share capital is the core capital of the Sacco. Each and every member is mandated to purchase minimum shareholding of 400 shares each share is 100/= equal to Kes 40,000/=
4. They shall generate a credit Reference Bureau (CRB) report to confirm membership eligibility
5. Qualification for a loan is after 6 Months of consistent saving for long-term loans & short-term loans for three months.
6. Monthly Contributions are acceptable through any mode of payment, i.e., Standing Orders, Payroll Deductions from employer, Cheques, Over the counter deposits & M-Pesa
7. The share capital is non-refundable and is only transferable to an existing Sacco member or sold to a Sacco member when you cease being a member.
   A member may opt to keep the shares as an investment and continue earning dividends
8. The Sacco has a  vibrant iConnect portal https://iconnect.safaricomsacco.com/ where you can check your statement and interact with us anytime! Also on SafCIRI app both on Play Store and App Store

M- Pesa Procedure for remitting Savings/Contribution/Deposits

In the spirit of empowering our members, the SACCO is introducing Lipa Na M-Pesa
method to enable you remit your savings or loan repayment at your own convenience
over the phone!

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