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Benefits of Becoming a Taqwa Sacco Member

• Members are presented with the opportunity to save consistently thus facilitating the discipline of saving regularly and generating a security for future financial needs maybe even retirement. 

• Most of the young people tend to spend all they have without sparing some for the future. It is advisable to save now when you are more energetic and more productive. Taqwa Sacco can assist in developing a saving culture and be able to commit part of your disposable income for your future.

• The money isn’t accessible to the member unless they choose to withdraw from the SACCO or take out a loan. This protects the savings and prevents impulsive spending of cash saved.

• A Sacco belongs to its members. These members are usually people you can identify with. There’s no classism in Saccos and you can feel comfortable interacting and sharing your challenges thus building each other up.

• Out of a total of 5,000 Saccos, our Sacco is amongst the only 164 Saccos licensed to take deposits under our Front Office Service Activity (FOSA)

• It’s very hard for Kenyan Saccos to make losses. Once you have your money in a Sacco, you are assured that it’s safe and chances of making losses are minimal.

• We encourage our members to own property. Members can purchase land at an affordable price, paid in full or in installments.

• Access to affordable capital to boost or start your business, thereby improving your business’ livelihoods through investment and meeting other day-to-day eventualities.

• Loans are granted three times the member savings and have flexible repayment periods (12 or 36 months). Our loan products range from development loans, school fees loans, emergency loans, and a range of asset products.

• Most importantly, when you do need a credit facility, you will have no interest rates to worry about. We are INTEREST FREE.

• High savings means a higher value of credit one can acquire and may need fewer or no guarantors to secure loans.

• While repaying a Sacco loan, we encourage our members is to maintain a monthly savings as they did before. This builds a saving discipline, and helps one accumulate a substantial savings base

• The Sacco also pays out dividends annually to members on the FOSA share, with a guaranteed return. Dividends depend on the profits made by the Sacco thus the more the Share Capital a member has, the more the dividends you get.

Kindly note that:

a) The credit capability of a member is limited to the amount of capital they contributed consistently for 12 months.

b) And all loans are granted subject to the member ability to repay and acquiring of enough eligible guarantors.

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