• Members and staff of KNCCI and other various BMO’s, NGOs, Companies and any other formal organization admitted on check-off arrangement (10 staff minimum).
• The business community (MSME’s & SME’s) and their staff.
• Any individual(s) referred by an active member (friends & family).

• To organize, promote the welfare and economic interests of our members
• To financially empower the members of KNCCI and the business community
• Provide a source of fair loans and reasonable rates
• Promote personal growth through the introduction of new products and services that will promote the economic base of our members

You make an application through your chapter using the prescribed downloadable application form on Click Here .

After filling the required information you Make your non refundable entry fee of KES. 1,000, share capital payments of KES. 2,000 and minimum monthly savings of KES: 1,000 to:

ALL PAYMENT TO THE FOLLOWING

A.

• PAY BILL Pay bill.: 400222
• Account: 857628#Your mobile number (Eg. 857628#072278XX69)

OR

B.

• Bank: Cooperative Bank of Kenya
• Account Name: NATIONAL CHAMBER OF COMMERCE AND INDUSTRY SAVINGS AND CREDIT CO-OPERATIVE SOCIETY LIMITED.
• Account Number: 01101069288001
• Branch: Upper Hill

NB: For all direct deposits or bank transfer to the account, you must attach copies of Payment Receipts, ID, PIN, KNCCI Membership Certificate and latest pay slip (for employees) where applicable.

All Application Forms to be submitted to your County KNCCI Office which houses NCCI SACCO.

No. To put it plainly all SACCOS are Cooperatives BUT not all Cooperatives are SACCOS. There are Agricultural marketing cooperative (dealing with marketing of agricultural produce), Transport (in the business of transportation), sand harvesting (in the business of sand), Consumer Cooperatives (in the business of hotels) etc The name appended to a cooperative defines the business of the entity.

• It provides members with a safe platform to save on regular basis as the SACCO has a legal framework that is regulated by Commissioner for Co-operative Development (CCD);
• Loan products at affordable rate and that require No collateral
• To earn dividends and interest as a SACCO member and an investor
• Last expense cover for all active members, Ksh 100,000 funeral costs is payable to the nominated next of kin upon a member’s demise.
• Sacco members to benefit from chamber networks of government and development partners, investors and programs targeting the Micro, Small and Medium Enterprises (MSME’s)

Yes there is a big difference in Cooperatives in regards to the meaning of share capital and savings.

Share capital means the amount of money, you as an investor invests to lay the foundation of the SACCO. This is the money that is used in buying equipment or buildings for the operations of the SACCO. For example, if a SACCO puts up a building the money contributed will buy cement or stones, this money is fixed and cannot be assigned to any one individual once it gets into the pool.

Savings is the amount of minimum money one saves every month as agreed to in the bylaws. Savings determines how much loan one will qualify in line with the set bylaws or resolutions.

Share capital is only transferable but is not refundable. On exit a member can transfer their capital to another member. However, during the winding up of a SACCO, share capital will be refundable on a prorate basis based on what is available

Yes. When a member intends to exit the SACCO one must ensure they have cleared their personal loans and transferred any guarantor-ship liability to fellow members. Once this information is captured by the SACCO management, they can then write to the Sacco notifying them of their intention to exit and give a 60 working day notice for the refund to be effected. The Board should pay the members his total savings less any overheads incurred by the society.

The SACCO determines the minimum monthly savings, which currently standards at KES: 1,000.

A member can therefore save as much as they can subject to the fact that their total savings is below 20 percent of the total Sacco aggregate savings.

A member will qualify for a loan after at least 6 months of continuous savings. The amount of loan one can qualify will be in line with the loan policy.

The amount one can borrow will be determined by the loan policy in place,  total amount one has saved, submission of a duly completed loan application to the relevant SACCO authorities and the quality of the guarantors .

Ensure you borrow wisely (you put the loan amount into good use), save regularly, and pay your loan timely.

A member of good character and their commitment to the repayment of the loan

The interest on loans will be 12% per year on declining balances/outstanding loans

Yes depending on the volume of business, members will likely receive interest based on their savings and dividends based on their share capital. In addition, any targeted financial intervention by donors/partners to Medium, Small and Micro enterprises (MSMEs) will be channeled through the SACCO.