Your Definitive Guide to Centenary Sacco Membership Eligibility Requirements

Tired of the shackles of traditional banking? Seeking a community-driven, affordable path to financial freedom? Look no further than Centenary Sacco, Kenya’s trusted savings and credit co-operative, empowering individuals and businesses alike. But before embarking on this exciting journey, a crucial question arises: am I eligible to join Centenary Sacco? Fear not, for this comprehensive guide will illuminate every facet of their membership requirements, leaving you confident and prepared to unlock your financial potential.

Firstly, let’s dispel the myth of exclusivity. Centenary Sacco embraces an inclusive philosophy, welcoming individuals from all walks of life, regardless of age, income level, or professional background. Anyone aged 18 and above, residing within their operational area, which encompasses Meru, Tharaka Nithi, Laikipia, Isiolo, Embu, and Nairobi counties, can apply for membership.

However, to ensure a thriving and sustainable community, Centenary Sacco implements a few basic eligibility criteria:

1. Kenyan Citizenship or Valid Work Permit:

As a registered Kenyan entity, Centenary Sacco prioritizes serving Kenyan citizens. However, foreign nationals holding a valid work permit are also welcome to join the fold, fostering diversity and financial inclusivity.

2. Proof of Identity:

To ensure transparency and security, Centenary Sacco requires verifiable identification documents upon application. A valid Kenyan national ID or passport serves as primary proof, and additional documentation like a driver’s license or birth certificate may be requested for confirmation.

3. Minimum Share Purchase:

Centenary Sacco operates on a member-owned cooperative model. Therefore, all members must purchase a minimum number of shares upon joining. This investment signifies not only membership but also ownership, fostering a sense of shared responsibility and commitment to the cooperative’s success. The current minimum share purchase requirement stands at Kshs. 500.

4. Regular Savings Commitment:

Centenary Sacco thrives on a healthy flow of capital, enabling them to offer favorable loan terms and financial services to its members. Therefore, aspiring members must demonstrate a commitment to regular savings. This can be in the form of a monthly minimum deposit of Kshs. 100.

5. Good Character and Reputation:

While financial aspects are essential, Centenary Sacco values integrity and ethical conduct above all. Applicants with a proven record of good character and a positive reputation within their community are more likely to find membership acceptance.

Beyond these core requirements, Centenary Sacco offers special membership categories tailored to specific groups:

Jifunze Junior Account: Open for children under 18 with parental/guardian consent, fostering financial literacy and early saving habits.
Group Membership: Designed for organizations and businesses looking to offer their employees and members access to Centenary Sacco’s diverse financial services.

Centenary Sacco Products

FOSA Services

(i). Savings Products

Individual savings account.
Salary account.
Group/ institutional account.
Jifunze junior account.
Fixed deposit account.

(ii). FOSA Loans

Salary loans.
Salary advance.
Kamua pesa loan.
Vuna majani loan.
Bonus/ coffee advance.
Jifunze junior loan.
Salary overdraft.
Classic loan.

(iii). Utility Services

Mpesa paybill services.
Mobile banking services.
ATM services and saccolink visa card.
Personalised cheque books.

BOSA Services

(i). Loan Products

Normal loan.
Instant loan.
Re-financing loan.
Asset financing.

(ii). Group Loans

Kumekucha loan.
Pambazuka loan.
Micro-credit loan.
Mibubo loan.

Benefits of Joining Centenary Sacco

The Sacco provides the best value for the members’ money.
Low interest rates on loans.
Competitive savings rates.
The Sacco offers financial education and literacy training programs to members.
24/7 online/ mobile and phone support.
Convenient access to your money.

But joining Centenary Sacco is just the beginning. As a member, you gain access to a wealth of benefits, including:

Affordable loans: With competitive interest rates and flexible repayment terms, Centenary Sacco empowers members to achieve their financial goals, be it business expansion, educational aspirations, or personal needs.
Savings products: Diverse saving accounts cater to various risk appetites and financial goals, ensuring your hard-earned money works for you.
Dividend sharing: As a member-owned entity, Centenary Sacco shares its profits with its members, offering the opportunity to earn attractive returns on your investment.
Financial education: Committed to empowering its members, Centenary Sacco offers workshops, seminars, and online resources to equip you with financial literacy and informed decision-making skills.
Strong community: Joining Centenary Sacco connects you to a network of like-minded individuals and businesses, fostering a supportive and collaborative environment.

Becoming a Centenary Sacco member is more than just accessing financial services; it’s joining a community, an investment in your future, and a commitment to mutual prosperity. By fulfilling the eligibility requirements and aligning with the cooperative’s values, you embark on a journey of financial empowerment, paving the way for a brighter tomorrow.

So, take the first step today and unlock the door to financial freedom. Visit your nearest Centenary Sacco branch or explore their website to learn more about the application process and embark on your path to financial well-being. Remember, Centenary Sacco – Ushirika with a Difference.

With over 30,000 satisfied members and a growing branch network, Centenary Sacco is poised to make a significant impact on the Kenyan financial landscape. \