Application for membership
Every applicant for membership shall fill and complete the "Membership Application Form". This form shall be drawn to show all the information required for the purpose of registration of members.
Download the membership application form(s) below.
Admission into Membership
- An applicant shall be admitted to membership on the application upon payment of an entrance fee of Kshs 1,000 and a minimum of 250 shares of Kshs. 20 each or an amount as shall be fixed by the General meeting from time to time.
- Upon admission, the member's name shall be entered in the membership register and a membership number issued.
- Members shall be admitted by the management board subject to Confirmation by the next general meeting.
- The member shall pay for a copy of the society's by-laws at its actual cost to the society.
Rights of Members
A member of the society shall have the right to:
- Attend and participate in decision making at all general meetings of the society and vote;
- Be elected to organs of the society, subject to these by-laws;
- Enjoy the use of all the facilities and services of the society subject to the society's by-laws;
- All legitimate information relating to the society, including, internal regulations, registers, Minutes of general meetings and supervisory committees reports, annual accounts, inventories and investigation reports, at the society's registered office.
Obligations of Members
A member of the society shall have the obligation to:
- Observe and comply with all the society's by-laws and decisions taken by the relevant organs of the society;
- Buy and pay up for shares and deposits or make any other regular payments provided for in these By-laws;
- Meet the debts of the society in case of insolvency in accordance with the provisions of the Act and these by-laws.
Member's Personal Statement
The society may use "check off system", standing orders or cash for payments of members shares, deposits and loan repayments. However, when direct payments have to be made, they shall be paid directly into the society's bank account and a receipt issued by the society on submission of the bank slip. Every member shall receive regular statements at least once every three months, which shall contain particulars of membership, shares, deposits and loan transactions with the society.
Withdrawal from Society
A member may at anytime withdraw from the society by giving at least sixty (60) days written notice to the board of directors.
For more detailed infomation on membership read the Sacco By-laws.