Membership & Eligibility


  • The ownership of Kenya Achievas Savings and Credit Co-operative Society Limited lies with the members who own shares and deposits. They are expected to exercise supreme authority as far as decisions are concerned.


Members of Kenya Achievas Savings and Credit Co operative Society Limited shall enjoy the following rights:

  • Right to attend and participate in all meetings
  • Right to be elected to all organs of the Society
  • Right to be educated in matters pertaining to operations of the society
  • Right to enjoy the use of all facilities and services of the Sacco
  • Right to share in the surpluses realized in the Sacco.
  • Right to propose amendments in the by laws
  • Right to approve or reject the budgets and audited accounts.
  • Right to expel errant members in accordance with the bylaws.


Its member’s obligations is to:

  • Observe and comply with the Society’s by laws and decisions
  • Buy and pay up for shares or make any other payments due from them
  • Meet the debts of the Society in case of bankruptcy
  • Pay membership fees and buy at least one share and make regular contributions (deposits) as per the society by –laws.
  • Patronize (do business with) the Sacco in order to promote and strengthen it.
  • Set objectives of the Sacco.


To qualify for membership one;

  • Must be eighteen years of age except in the case of a minor heir of a deceased member.
  • Must be within the field of membership comprising the following common bond [Tea Farmers, Employees of Kenya Achievas and other related bodies including public officers or any other persons who in the considered opinion of the B.O.D, qualifies under the by-laws].
  • Must be of good character.


  • Every applicant for membership shall complete an “application for membership” form.
  • This form shall be drawn to show all the information required for the purpose of registration of a member.


An applicant shall be admitted to membership on application upon payment of an entrance fee of Kshs 200 and purchase of minimum shares as shall be fixed by the General meeting from time to time.

  • Upon admission the member’s name shall be entered in the membership register and a membership number issued.
  • Members shall be admitted by the board subject to confirmation by the next general meeting.
  • The member shall pay for a copy of the society’s by-laws at its actual cost to the society.


Every member shall hold minimum shares as shall be fixed by the General Meeting. However, no member shall hold more than one-fifth of the total shares of the Sacco Society.


With the approval of the board, a member may at any time transfer shares to another member but not to any other person. Such transfers must be in writing and at nominal value.

All transfers of shares shall be registered with the Sacco Society and no transfer shall be valid unless so registered. A fee of Kshs 250 shall be payable by the transferee for each such transfer.

  • Must be a resident within or occupies land within the Society’s area of operations
  • Must not be a member of another Savings and Credit Co operatives Society having same or similar objects
    • Must have been a member of the Society for a minimum period of SIX months.Must not be directly or indirectly a money lender or carrying out such activities to the objectives of the Society.


Members of the SACCO wishing to borrow money must meet the following initial requirements:

  • Take part in major policy decisions.
  • Settle all dues or fees payable to the Society promptly.
  • Participate in all social and economic activities of the Sacco in order to enhance service delivery.
  • Prospective borrowers must apply for loans by completing the Society’s prescribed loan forms.
  • The loan amount applied for should be considered on the amount of shares held in the Society.
  • At least two other members must guarantee the loan amount.
  • The guarantors total shares plus that of the borrower must be equal to or more than the amount being applied.
  • All deductions towards repayment must not exceed 2/3 of the member’s net take home.


The repayment period shall vary with the types of products as follows:


Loan Type Maximum Repayment Period
1. Normal Loan 12 months
2. Ushirika Advance 6 months
3. Crop Advance 6 months
4. Salary Advance 3 months
5. Coffee Advance 12 months
6. Bonus Advance During bonus payment
7. Muungano Loan 12 months
8. Jiendeleze Loan 24 months

N/B Any financial commitments nearing completion or starting in the near future that may affect the member’s ability to repay will be considered.


The SACCO shall prepare a Loan repayment schedule for each loan to record the repay-ments installments and monitor any arrears. All subsequent entries i.e. loan repayment, interest charged will be posted to the loan account until the loan is fully redeemed.

Where applicable institute a Standing order Instruction to take care of the loan repayment.


The Sacco joined Credit Reference Bureau from January 2016 and a notice was issued to all sacco members that all loan defaulters risked being listed for not servicing their loans in time. Credit Reference Bureau Limited (CRB) is an information solutions company.

It help lenders make faster and more accurate credit decisions. They collect, manage and disseminate customer information to lenders within a provided regulatory framework and assist in making credit accessible to more people, and enabling lenders and businesses reduce risk of default and fraudulent loans by customers.


Owning Achievas Sacco shares means you are a member, as well as an owner; with equal rights and a voice in how the society is ran democratically. Achievas investment shares are available to any adult (18 years and above) Kenyan willing to join or invest in the Sacco upon positive identification to the satisfaction of a member care officer.

Each member shall purchase at least fifty shares of Ksh. 60 each. Shares are not refundable or assignable as collateral for a loan. Shares may earn dividends paid from net surplus at the end of a financial year.


  • Minimum shares Ksh. 3000.
  • No maximum investment shares.SACCO DEPOSITS
  • These deposits may be used as collateral against borrowings from the Society and shall only be refunded when a member withdraws from membership and provided the member has fully repaid all his debts and is free from guarantee.
  • Deposits may however be transferable from one deposit account to another provided the transaction does not contravene the Savings policy.ADMITTING NEW MEMBERS INTO THE SACCOAdmission of a new member Conditions
  • A valid and acceptable identification e.g. National ID, Passport, Driving License, introduction by an existing shareholder/account holder, etc.
  • Two passport size photographs of the applicant to be attached to the specimen signature card and application form.
  • A specimen signature on a signature card or biometric i.e. thumb.
  • Must be 18 years of age and above.
  • Fill membership application form.
  • Payment of an entrance fee of Kshs. 200.
  • Purchase immediately or gradually minimum shares according to the following classes;


    • CLASS B – 1000 UPTO 3,000 SHARES.


    • CLASS C – 100 UPTO 1,000 SHARES.


    System generated membership number issued.




    • The member writes a letter or fills in a form requesting for closure.


    • The system checks whether the member has guaranteed any active loans.


    After confirming that the member is not guaranteeing any loans, the User changes the Member Status to withdrawal and enters the reason for withdrawal and the date when the member applied for withdrawal. Right to access all information relating to the society, including registers, minutes and reports

The vision statement reflects its inspiration framework gearing towards the strategic plan ‘To be a market leader in the provision of financial services in the republic of Kenya

The mission statement reflects our obligation and commitment to our member ‘To provide efficient quality financial services









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