Stima Sacco: Membership Requirements, Savings, Loan Options And Interest

Stima Sacco started operations in 1974 with a mandate of serving the formerly known East African Power & Lighting Company employees.

It has since evolved to be among Kenya’s top saccos thanks to its broad coverage of members from different sectors, including corporations, groups, and businesspersons.

According to the Sacco Societies Regulatory Authority (SASRA) 2023 report, the Sacco ranked second in asset base, holding assets worth 59.15 billion, reflecting a strong stability ratio.

Stima Sacco is a member-owned business, and membership is open to all resident and non-resident Kenyans anywhere in the world.

The Sacco admits eligible individuals, groups, or corporates for membership of the Society upon fulfilment of membership opening requirements.

Requirements to Become a Member

The requirements for joining Stima Sacco vary depending on the category. You can join the Sacco under three categories: Individual, group, and corporate.

For individuals, the requirements are.

• Fill the membership form
• Present a copy of the passport
• A copy of the national ID
• KRA PIN certificate
• Membership fee of Sh3,000

Those joining as a group/chama will, on the other hand, be required to;

• Give minutes of meetings where members sat and resolved to join Stima Sacco
• Give a list of all members of that group
• Select a few members to represent the entire group at Stima Sacco
• Signatories are to present their documents, such as national ID copies and KRA PIN, and fill out a form.

For corporates, the requirements are;

• The Director’s resolution to join Stima Sacco.
• Memorandum of articles
• Documents of directors, such as ID, KRA PIN, and KRA PIN of the corporation.

Also Read: Choosing the Right SACCO in Kenya: What to Look for and How to Decide

About Stima Sacco Savings

Saving with Stima Sacco offers several advantages. Unlike many other financial institutions, Stima Sacco allows members to borrow up to three times their savings.

Members’ monthly contributions are pooled to provide loans to other members.

By joining Stima Sacco, you become a shareholder who earns dividends and interest on deposits, unlike in banks, where savings primarily generate profits for the institution without direct returns to the saver.

 The Society offers both medium and long-term savings accounts to members.

Prior to opening a savings account, the individual requesting the account shall have been admitted as a member of the society. Contributions can be made through check off, standing orders, mobile banking, direct deposits, or bank transfers.

Upon successful completion of membership registration, 3 mandatory accounts are created;

• Share Capital- Amount of shares available 
• Alpha Deposit – Non-withdrawable Savings Account, which is also a Multiplier Account for loans
• Prime Account – Transactional/Current Account

Here’s a clear, refined summary of the information you shared about Shares Capital Account and Alpha Deposits Savings Account in Stima Sacco:

Shares Capital Account

• Represents a member’s ownership stake (equity) in the Sacco.
• Non-withdrawable but transferable when a member exits.
• Earns an average annual return through dividends.
• The payback period to recover the investment is 7 years.
• Shareholding follows a membership graduation model:

Individual Membership Categories:

Corporate Membership Categories:

Chama Membership Categories:

Alpha Deposits Savings Account

Alpha Deposits are the monthly contributions members pay to the Sacco. The minimum monthly amounts are:

• Individuals: Ksh 1,000

• Groups: Ksh 5,000

• Corporates: Ksh 10,000

Alpha Deposits can be used as security for loans or to guarantee other members’ loans. Interest rebates are earned annually, calculated on a pro-rata basis. When a member exits the Sacco, they can get a refund of their Alpha Deposits, provided they have no outstanding or guaranteed loans.

Share Capital is the minimum amount of shares every member must hold. Shares are non-refundable and cannot be withdrawn, even when exiting the Sacco, but they can be transferred to another member. Share Capital cannot be used as loan security.

Minimum Share Capital requirements are:

• Individuals and groups: Ksh 25,000 (equivalent to 50 shares at Ksh 500 each)

• Corporates: Ksh 50,000

Dividends are paid on Share Capital annually, calculated on a pro-rata basis.

Also Read: Govt Publishes List of 345 Licensed and Authorized SACCOs in 2025

Loans, Option,s and Interest

Stima Sacco is widely recognized for its land investment opportunities. It offers loans of up to three times a member’s savings, with interest rates starting at 1 percent per month.

As a member of Stima Sacco, you gain access to unlimited benefits, including subsidized prices on various products such as land and houses.

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