Loans from retrenched members were not recoverable from retrenchment package but management enhanced recovery procedures which were very successful and no bad debts were declared. On recovery process management adopted other governance strategies particularly:
- Member recruitment drive
- Fixed percentage of share contribution rate
- Improved service delivery.
The above strategies along with others have successfully seen the Society membership grow close to 7000 as at today. Our operations and financial status are stable with total Deposits of Ksh. 2,081,984,389 and a loan portfolio of Ksh. 2.214,870.766, with a total asset of 2,705,533,909.
Members are encourage to contribute monthly deposit of 10% of their gross salary as the minimum.
SHARE CAPITAL: Minimum for each member is Kshs 25,000 which is build in two yearly installments.The first Installment was implemented on 30th June 2015.
Here is how to use Shirika Sacco Paybill Number 177 683
- Go to Mpesa Menu
- Select Pay Bill from your M-PESA menu
- Enter Shirika Sacco Paybill Number 177 683
- Enter membership number for Account Number
- Enter the amount you wish to pay
- Enter your M-PESA PIN
- Confirm details are correct and press OK
- You will receive confirmation message from Safaricom
Shirika Sacco M-Sacco Services *346#
Shirika M-Sacco services is available to Safaricom registered users and enables the members to do the following transactions;
- Withdraw money from Sacco account to M-Pesa
- Balance inquiry of Sacco account
- Loan repayment from M-Pesa
- Account mini statement inquiry
- Airtime top-up
- Payment of utility bills like electricity and water bills
- Change M-Sacco Pin number
- Transfer money from one account to another in the Sacco
- SMS notifications
About Shirika Sacco
Shirika Sacco was registered on 24th April, 1969 by the founder members of the Ministry of Industrialization and Enterprise Development Department of Co-operative which is the parent ministry.
it was found necessary to widen this scope to include all other government ministries, all cooperative related organizations; and other reputable public organizations, but which are approved by the Annual General Meeting.
At the end of 2015, membership stood at over 5,000 members with deposits in excess of Ksh 1.2 billion and loans worth Ksh 1.3 billion.
Shirika Sacco Bosa Products
- Normal Loan
- School/College Fees Loan
- Emergency Loan
- Special Emergency Loan
Shirika Sacco Fosa Products:
- Salary processing
- Salary Advance
- Instant loans
- Super Instant loans
- Biashara Start up
- Asset Financing
- Asset Based Loans
- Fosa Personal Loan(FPL)
- Debooster loan-This is a product for new members with little deposits
Shirika Sacco Saving Products
- Savings Accounts
- Shirika Junior Accounts
- Masomo accounts
- Safari accounts
Shirika Sacco Contacts
For More information on Shirika Sacco Mobile banking and Shirika Sacco Paybill Number 177 683, contact the Sacco on:
SHIRIKA COOP HOUSE,
P.O Box 43429-00100, Nairobi
TEL: 020-3740625, Fax 020-3753626
CELL: 0734-897817, 0724-610715