Ufanisi Sacco Membership Eligibility & Requirements. Ufanisi DT Sacco Society, established on July 6, 1973, initially served the employees of the Agricultural Finance Corporation as a Savings & Credit Society. Over time, the Sacco expanded its membership to the general public and was officially registered with the Sacco Societies Regulatory Authority (SASRA) on July 22, 2013.
Membership Eligibility
To be eligible for membership in Ufanisi DT Sacco Society, an individual must meet the following qualifications:
- Field of Membership: Must be an employee of Ufanisi Sacco or any other organization accepted by the board.
- Age: Must be at least 18 years old.
- Character and Mental Health: Must be of good character and sound mind.
- Employment: Must have an employment occupation or profession that falls within the category or description for which the cooperative society operates.
- Fees: Must pay the entrance fee and share capital as prescribed by the by-laws.
- Exclusivity: Must not be a member of another Sacco with a similar purpose within the country.
- Additional Qualifications: Must meet any other requirements as stated in the by-laws and be admitted according to the by-laws.
Admission into Membership
The process for admission into Ufanisi DT Sacco membership includes the following steps:
- Application: Submit a duly completed application form. The board will consider and decide to accept or reject the application. This decision will be communicated to the applicant in writing within a reasonable time and is subject to ratification by the next general meeting.
- Membership Number: Upon acceptance, the board will issue a membership number, which will be recorded in the member’s personal file.
- Entrance Fee: Pay an entrance fee of Kshs 1,000 or any other fee prescribed by the board.
- Share and Deposits: To qualify for membership rights and privileges, the member must pay a minimum share of at least Kshs 250 and deposits of Kshs 10,000 or as determined by the general meeting from time to time.
- Rejoining Members: Former members wishing to rejoin must comply with the above requirements to be admitted again.
- Right to Appeal: The board may refuse admission, providing reasons for the decision. An applicant whose membership is declined can appeal to an Annual General Meeting (AGM), supported by at least 10 members.
- Society By-Laws: Members must pay for a copy of the society by-laws at its actual cost.
- Membership Identification: Each member may receive a membership identification card upon admission.
- Payment System: Payments for shares, deposits, and loan repayments can be made through cash contributions or a check-off system. Members will receive a periodic statement of account recording their transactions with the society at least every six months.
- Family Membership: The spouse, children (over 18 years), and parents living in the same household as the member, as well as employees of the society, can also become members under the same terms and conditions.
Contact Information
Ufanisi DT Sacco Society is located at Development House, 3rd Floor, Moi Avenue, Nairobi. For more information or inquiries, you can contact Ufanisi DT Sacco Society at:
- Phone: 020 224 6383 / 0712 690 660
This detailed guide provides an overview of the eligibility criteria, requirements, and the admission process for prospective members of Ufanisi DT Sacco Society, helping them understand how to join and the benefits of membership.
