Wananchi Sacco Ltd: Membership Requirements, Loan Options, Savings, And Interest

Wananchi Sacco Ltd is a Savings and Credit Cooperative Society (Sacco) that was established in 1992 by tea farmers from Othaya, Tetu, and Mathira.

It was originally known as Nyeri District Tea Growers Sacco.

In 2007, the Sacco rebranded to Wananchi Sacco, adopting a strong and inclusive identity to accommodate members from diverse sectors.

The Sacco is licensed by SASRA as a Deposit-Taking (DT) Sacco.

How to Join Wananchi Sacco Ltd

To become a member of Wananchi Sacco, please visit any branch with your national ID, KRA PIN (if applicable), and a passport photograph. The photograph can be taken at the branch during the account opening process.

You must also purchase at least one Sacco share, costing KSh100, to become eligible for Sacco’s financial services.

Requirements to Join Wananchi Sacco:

• A copy of your National ID or passport.
• A copy of your KRA PIN certificate (where applicable).
• A passport photograph can be taken free of charge at the branch.
• Payment for at least one Sacco share (Ksh100).

Steps to Join:

1. Visit a Branch: Visit any Wananchi Sacco branch to initiate the membership process.
2. Provide Documents: Present your national ID, KRA PIN (if applicable), and have your passport photo taken by the staff.
3. Purchase Shares: Pay for at least one Sacco share to secure your membership.
4. Open an Account: After completing these steps, your membership account will be opened, granting you access to Sacco’s financial services.

Also Read: Defence Sacco Society Ltd: Membership Requirement, Loan Options, Savings, And Interest

Loan Products

Wananchi DT Sacco offers asset financing for both business and personal needs.

1. Asset Finance Loan
   Wananchi DT Sacco offers asset financing for both business and personal needs. Members can access loans for purchasing motor vehicles or acquiring land for agricultural and commercial purposes.
2. Business Loans and Advances
   To support entrepreneurial ventures, the Sacco provides business loans and advances designed to boost business growth and promote enterprise development.
3. Salary Loans and Advances
   Salaried individuals and civil servants can access salary loans and advances, helping to bridge financial gaps and meet personal or family needs.
4. Development Loans
   The Sacco provides development loans to support members undertaking projects that contribute to community or personal development.
5. School Fees Loans
   School fees loans are available to assist members in meeting educational expenses, helping to nurture and support learning in the community.
6. Agricultural Loans and Advances
   Given the importance of agriculture for economic growth, Wananchi DT Sacco provides affordable loans and advances for tea, coffee, dairy, and horticultural farming. These loans aim to strengthen agricultural productivity and support farmers’ livelihoods.

Also Read: 2NK Sacco Society Ltd: Membership Requirements, Loan Options, Savings And Interest

Savings Accounts

The following are savings accounts that you can find at Wananchi Sacco

• Akiba Jipange Savings Account
  This account is ideal for members who wish to systematically build their savings over time.
• Ordinary Savings Account
  The Ordinary Savings Account is tailored to members’ economic activities, such as business, salary, tea, coffee, and other sectors.
• Toto Junior Account
  The Toto Junior Account allows parents or guardians to save money on behalf of minors, promoting financial discipline from an early age.
• Group Account
  The Group Account is designed for organizations such as Chamas, Self-Help Groups, partnerships, cooperative societies, churches, and clubs, providing a convenient way for groups to manage their collective savings.

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