Egerton University Sacco Membership Eligibility and Requirements

Egerton University Sacco, established in 1975, has experienced steady growth and has become a reputable financial institution.

With over 6,000 members, Sacco has accumulated shares and deposits exceeding Kshs 1.7 billion, while its loan portfolio stands at 1.6 billion.

Regulated by the Sacco Society Regulatory Authority (SASRA), Egerton University Sacco is authorized to undertake deposit-taking business in the country.

Egerton University Sacco Membership Eligibility

Egerton University Sacco welcomes individuals from various backgrounds to become members. Eligible individuals include civil servants, employees of companies, and businesspeople.

The Sacco primarily draws its members from notable institutions such as Egerton University itself, Kisii University, Laikipia University, Kabarak University, Masinde Muliro University, Chuka University, Kabianga University, several other universities, Nakuru County, and numerous schools.

Egerton University Sacco Membership Requirements

To join Egerton University Sacco, aspiring members need to fulfil certain requirements:

1. Entrance Fee: Prospective members are required to pay an entrance fee of Kshs 500. This fee serves as an initial investment into the Sacco.
2. Documentation: Applicants must submit a passport-sized photo along with a copy of their National ID or any other authenticated identity document. These documents assist in verifying the identity of the member.
3. Share Purchase: Upon joining, members commit to purchasing a minimum of Kshs 20,000 worth of shares within six months. This requirement encourages active participation and ownership within the Sacco.
4. Employed Members: For individuals who are employed, they are requested to attach their current payslip and a copy of their employment letter. These documents help establish their employment status and income level.

Modes of Remittance

Egerton University Sacco offers multiple convenient modes of remittance for its members. These include:

• Direct deposits to the Sacco’s bank accounts, allowing members to transfer funds directly from their bank accounts to the Sacco.
• Bank standing orders, enabling automated regular payments to the Sacco from the member’s bank account.
• Check-off with the employer, where contributions are deducted directly from the member’s salary and remitted to the Sacco.
• Direct debit, allowing for automatic withdrawals from the member’s bank account on specified dates.
• Cash deposit over the counter, providing the option to personally visit the Sacco’s office and make a cash deposit.
• Spotcash mobile banking (*645#), facilitating mobile banking transactions for members’ convenience.
• Sacco paybill number (798 073), offering a quick and easy method for members to make payments using their mobile phones.

Benefits of Membership

Looking for a reliable financial partner? @egertonsacco is here for you. We offer personalized service, competitive rates, and a commitment to our members' success#SavingsAccount #InternationalWomensDay pic.twitter.com/tK0FkWuH0D

— Egerton University DT Sacco (@egertonsacco) March 8, 2023

Being a member of Egerton University Sacco comes with several benefits, including:

1. Affordable and Flexible Credit Facilities: Members have access to credit facilities at favorable interest rates, starting from a minimum of 1%. The Sacco provides flexible repayment periods of up to 84 months, making it easier for members to manage their financial obligations.
2. High Yields on Investments: Through Egerton University Sacco, members can earn returns on their investments. Dividends on share capital are paid annually, enabling members to benefit from the Sacco’s success. Additionally, interests on deposits are also paid annually, providing an opportunity for members to grow their savings.
3. Wide Range of Products and Services: Egerton University Sacco offers a diverse selection of products and services tailored to meet the needs of its members. These include mobile banking services for convenient financial transactions, salary advances to assist in times of need, fixed deposit options for long-term savings, school fees loans to support education expenses, emergency loans for unexpected situations, dividend advances, share booster to enhance investments, agribusiness financing, salary processing services, and FOSA (Front Office Service Activity) savings accounts.
4. Financial Advice and Investment Forums: The Sacco values the financial well-being of its members and provides high-end financial advice and investment forums on a quarterly basis. These forums feature experienced consultants who offer guidance and insights into various investment opportunities, helping members make informed decisions about their finances.

Egerton University Sacco Branches & Contacts

1. Head Office:
   • Location: Egerton University Main Campus, Njoro.
   • Contacts: 011 000 9393/ 0733 999 002/ 0770 999 002.
2. Nakuru Branch:
   • Location: Golden Life Mall, Along Nakuru-Eldoret Highway.
3. Laikipia Branch:
   • Location: Within Laikipia University, Main Campus.
4. Kisii Branch:
   • Location: Kisii University, Main Campus.

How do I contact Egerton University?

You can contact Egerton University through the following means:

• Phone: +254-051-2217891/2/3/4
• Email: info@egerton.ac.ke
• Website: http://www.egerton.ac.ke/
• Physical Address: Egerton University, P.O. Box 536-20115, Njoro, Nakuru County, Kenya

How many acres is Egerton University?

Egerton University covers approximately 1,200 acres of land.

What is the PO box of Egerton?

The PO Box of Egerton University is P.O. Box 536-20115, Njoro, Nakuru County, Kenya.

Conclusion

Egerton University Sacco offers an inclusive and rewarding membership experience to individuals from various backgrounds. With its eligibility criteria and membership requirements, the Sacco