Qona Sacco Membership Requirements

This article focuses on Qona Sacco membership requirements. Qona Sacco is a Savings & Credit Co-operative Society established in 2001 to offer its members access to loans aimed at enhancing their economic and social well-being.

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The primary mission of the Sacco is to empower its members through a variety of products and services, achieving remarkable growth with an asset base of Ksh. 8 billion.

Qona Sacco Membership

Membership is available to:

Employees of Qona Ltd.
Spouses and children (18 years or older) of current members.
Individuals introduced by existing Sacco members.
Employees from other organizations as per the membership policy. The Sacco currently serves members from over 100 organizations.

Qona Sacco Membership Requirements

Alpha Membership

Individual Alpha members can access loan facilities after consistently saving in the Back Office Services (BOSA) section for 6 months.

Omega Membership

Group or Omega members become eligible for loans after saving in the Front Office Services Activity (FOSA) section for 6 months.

Requirements: Individual (Alpha Membership)

Membership fee: Ksh. 1,000 (deducted from initial savings or payable at registration).
Minimum monthly deposit contribution: Ksh. 3,000.
Minimum share capital: 400 shares at Ksh. 100 each (totaling Ksh. 40,000), payable within 12 months (Ksh. 3,334 monthly).
Credit Reference Bureau (CRB) report required to confirm eligibility.
Loan eligibility: After 6 months of consistent savings for long-term loans, or 3 months for short-term loans.
Monthly contributions can be made via standing order, employer payroll deductions, cheques, over-the-counter deposits, or Mpesa.