Apstar Sacco, formerly known as Ukulima Sacco, was established in 1972 when employees of the Ministry of Agriculture came together to pool funds and empower themselves financially.
The Sacco has an open membership policy, welcoming all Kenyan citizens, including formerly employed or self-employed individuals, regardless of their country of residence.
Membership is available to individuals, corporations, chamas, and groups.
Members of Apstar Sacco can access a variety of financial services, including borrowing, saving, and investing.
With eight branches and over 58,000 members, the Sacco has earned significant trust among Kenyans.
Its head office is located at the Ukulima Cooperative House, Haile Selassie Avenue, Nairobi.
Membership At Apstar Sacco
To join the Sacco, you need to provide a filled-out membership application form. You must also submit a copy of your national ID or passport.
Additionally, a copy of your KRA PIN certificate is required. You will need to provide proof of income, such as a pay slip or bank statement.
Finally, you must submit one passport-size photograph.
Who Can Join:
- Employees in the agricultural sector include farmers and agricultural workers.
- Self-employed people in the agricultural sector.
- Retirees from the agricultural sector.
- Spouses of current Apstar Sacco members
Steps to Join:
- Get the Application Form: Visit a Ukulima Sacco branch or download it from their website.
- Fill the Form: Complete all the required information and attach your documents.
- Submit the Form: Submit it at a branch or online through the Sacco portal.
- Wait for Approval: The membership committee will review your application and documents. You will be notified once approved.
Also Read: United Nations Sacco: Membership Requirements, Loan Options, Savings And Interest
Loan Options
Apstar Sacco offers a range of long-term loan products designed to meet members’ diverse financial needs.
Super Loan: The Super Loan provides members with flexible repayment options of up to 120 months, making it ideal for long-term investments, refinancing, or reducing financial stress.
Repayment periods are available in 60, 84, and 120 months, with competitive interest rates of 1.0%, 1.125%, and 1.20% per month. This extended tenure allows members to access larger loans under one facility.
FOSA Loan: The FOSA Loan is available to members who channel their salary through Apstar Sacco’s FOSA account.
It has repayment periods of 48, 60, and 72 months, with interest rates of 1.0%, 1.1%, and 1.2% per month.
The 60-month loan option now benefits from a reduced rate of 1.1%. This loan is suitable for medium-term projects, asset financing, and refinancing.
Chipukizi Loan: The Chipukizi Loan targets new members, particularly newly employed staff in counties, government ministries, parastatals, and other government agencies.
To qualify, members must have at least one month’s check-off remittance or two months’ salary through FOSA.
Makao Halisi Loan: This mortgage loan is designed strictly for the purchase or construction of owner-occupied residential homes. It is accessible to members with a gross monthly income of Kshs 200,000 or below.
The maximum loan amount is Kshs 8 million, with an interest rate of 8% per annum and a maximum tenure of 20 years. All loans are secured with collateral.
Business Loan: Apstar Sacco’s Micro Credit Loan empowers entrepreneurs to start or expand their businesses. The loan is available to members who bank their business income with the Sacco and requires flexible security through either collateral or guarantors.
These loans support small business owners, farmers, and other aspiring entrepreneurs to grow their ventures and improve their livelihoods.
Short-Term Loans
These loans are designed to meet urgent financial needs with repayment periods under 12 months and competitive interest rates.
Emergency Loan: The Emergency Loan, also called Mahitaji Loan or Bima Loan, caters to urgent expenses, including school fees, medical needs, and unforeseen emergencies. Repayment periods are 12, 24, or 36 months, with interest rates ranging from 1.0% to 1.2% per month.
The tenure is extended to 36 months from 30 months.
Also Read: United Nations Sacco: Membership Requirements, Loan Options, Savings And Interest
Savings Options At Apstar Sacco
Apstar Sacco offers a variety of savings accounts to help members and corporate bodies accumulate funds for different purposes.
Both medium and long-term savings options are available:
FOSA Savings Account: This is the main account held by all members for banking transactions.
It has an opening/minimum balance of Kshs 1,000 and comes with no monthly ledger fees.
The account can be used for salary processing, accessed through Visa-branded ATM cards and the Apstar mobile banking platform.
Holidays Savings Account: This account enables members to save specifically for holidays.
There are no monthly ledger fees, and interest rates are determined periodically by the Sacco.
Junior Savings Account: Designed for children under 18 years of age, this account has a minimum balance of Ksh 1,000.
Required documents include the parent or guardian’s ID/passport and the child’s birth certificate or notification.
Elimu Savings Account: This account allows members to save for future educational needs.
It provides free school fees, banker’s cheques, has no monthly ledger fees, and interest rates are set periodically by the Sacco.
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