2NK SACCO is a transport-based SACCO headquartered in Nyeri Town. The SACCO has gained popularity across the country for its transport services, offering both ordinary fourteen-seater vans and executive shuttles, as well as parcel delivery services.
The SACCO operates daily trips to Nairobi from major towns, including Nyeri, Karatina, Kerugoya, Nakuru, Eldoret, Thika, Nanyuki, Kitale, Kisii, and Bungoma.
2NK SACCO was established in 1994 by matatu owners from Nyeri and Karatina during a period when the matatu industry was often associated with disorder.
Driven by a desire to streamline operations and instill discipline, the founders incorporated and registered the SACCO under the Cooperative Societies Act, Cap 490.
The SACCO has remained committed to its core objectives, including mobilizing savings and providing affordable loans to members, enabling them to grow their businesses and improve their livelihoods.
Membership at 2NK SACCO
Opening an account with 2NK SACCO comes with a range of benefits. As a member, you gain access to affordable loan products at competitive rates and experience personalized services at all levels.
Members enjoy attractive dividend rates on shares, own savings products that promote a healthy savings culture, and can access other financial services such as insurance and money transfers.
Additionally, members benefit from financial education programs designed to help them make informed financial decisions.
To open an account with 2NK SACCO, you need to provide the following requirements:
- Completed Account opening form
- ID copy (both sides) – Original ID must be produced for verification purpose
- KRA pin copy
- Passport photo
- Specimen Signature
- Certificate of incorporation (for companies)
- Certificate of registration (for groups)
Companies must provide a certificate of incorporation, while groups must submit a certificate of registration.
Also Read:Â Invest And Grow Sacco: Membership Requirements, Loan Options, Savings And Interest
Loan Options
2NK SACCO offers a range of loan options to meet the diverse needs of its members.
The Salary Advance is designed for salaried employees and those with a regular fixed income.
Members can borrow up to two-thirds of their monthly salary without the need for guarantors, and the loan is automatically recovered once the salary is processed.
The product comes with competitive interest rates.
The Asset Finance loan helps members manage emergencies such as vehicle breakdowns that require significant funds.
Unlike normal loans, it has no multiplier, and the amount depends on the member’s deposits at the time of application.
It has a maximum ceiling of Ksh200,000 and is processed immediately for qualifying members, secured by a guarantee from another qualified member.
The Education Loan is intended to support the education of members or their dependents in schools, colleges, and universities.
To qualify, a member must have been active for at least six months. The loan is disbursed directly to the learning institution and offers flexible security, with a repayment period of twelve months.
The Business Loan caters to both small-scale and large-scale entrepreneurs, providing affordable financing to help grow their enterprises.
The maximum amount available depends on the member’s collateral and repayment ability, with flexible collateral requirements.
Members can repay the loan over a period of up to thirty-six months, benefiting from very competitive interest rates.
Emergency Loan is designed for urgent situations, such as vehicle breakdowns, to prevent business interruptions.
The amount depends on the member’s deposits at the time of application and has a ceiling of Ksh200,000.
It is processed immediately for qualifying members and secured by a guarantee from another qualified member.
Also Read:Â Gusii Mwalimu Sacco: Membership Requirements, Loan Options, Savings And Interest
Savings Plan
2NK SACCO offers a variety of savings accounts to cater to different members’ needs.
The Individual Account is suitable for heavy investors, small and medium enterprises, salaried employees, and those with a regular fixed income.
It is also available to students and pensioners. Members are required to purchase FOSA shares, and the loan amount accessible depends on the shares purchased and the savings available.
A member can borrow up to five times the value of their shares, with both shares and savings acting as security for any advances.
The 2NK Little Angels Savings Account is designed for children and is ideal for parents who wish to start their children on a savings culture early.
This account is available to children of heavy investors, salaried employees, small and medium enterprises, students, and pensioners.
It comes with a free home banking piggy, two free banker’s cheques per year for school fees, and allows withdrawals up to three times annually.
Parents must open a separate account for each child, and a child’s birth certificate is required.
For community-based savings, the SACCO offers a Group Savings Account, which is suitable for self-registered self-help groups looking to build a strong financial base.
This account has affordable registration fees, allows group members to operate the account, and provides personalized services through SACCO field officers.
Groups can purchase FOSA shares and access loans based on their savings and shareholdings, with group members acting as guarantors.
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