Mofaa Sacco Society Limited
Mofaa Sacco Society Ltd. is a Regulated Non-Deposit Taking Savings and Credit Cooperative that was registered in December 2012 under the Cooperative Societies Act (Cap.490), Laws of Kenya. It is licensed and regulated by Sacco Societies Regulatory Authority (SASRA). Our membership is drawn from Landlords and employees through Mofa Golden Agencies Ltd. Mofaa Sacco employees, Corporates, Welfare Groups and other individual members referred to by the existing members.
Our Mission
To provide quality, unique, diversified and competitive services to our members to enable them achieve a sustainable livelihood
Our Vision
To be a unique and preferred Sacco that provides competitive savings and credit facilities in the region and beyond.
“Developing Together”
About Shares
Minimum is 500 shares of Kshs. 20/= equivalent to
Kshs. 10,000/=
And Savings
– Unlimited minimum deposits
– Secure membership
– High returns
– No hidden fees
Our Sacco Management
Mofaa Sacco is governed by a Board of Directors who are democratically elected from the Society’s membership in the Annual General Meeting (AGM). There is also a Supervisory Committee and five members of staff.
Joining Requirements
You can join Mofaa Sacco by registering as:
Individual – Registration fee Kshs. 2,000/= only Requirements – Copies of National ID / KRA PIN / 2 passport size recent photos.
Corporates – Registration fee Kshs. 5,000/= only Requirements – Copies of Certificate of incorporation/ National IDs and KRA PIN of the Directors / Company KRA PIN / 2 passport size recent photos of Directors.
Joint Account – Registration fee Kshs. 3,000/= only Requirements – Copies of National IDs of the Account holders / KRA PIN of each / 2 passport size recent photos of Account holders.
Welfare / Chama Group – Registration fee Kshs. 3,000/= only. Requirements – Copies of Certificate of Registration/ National IDs and PIN of the Officials / Group’s KRA PIN / 2 passport size recent photos of Officials.
Landlord – Through Mofa Golden Agency check-off system. Normal registration fee and requirements for an individual applies.
Employee – Through Mofa Sacco and Mofa Golden Agency check-off system. Normal registration fee and requirements for an individual applies.
Loan Services
Normal / Development Loan
Maximum is three (3) times members deposit. Subject to entitlement. Repayment period is within 36 months. Interest of 1% per month on reducing balance.
Instant Loan
Maximum of Kshs.100,000/= Repayment period is within 6 months Interest of 10% per month on reducing balance Funds availed within 48 hours of loan application approval.
School Fees Loan
Maximum of Kshs.150,000/= Funds must be paid directly to the school account Repayment period is within 12 Months Interest of 2% per month on reducing balance.
Asset Financing Loan
Maximum of three (3) times of member’s deposits Financing is at 70% by Sacco and 30% by borrower Repayment period is within 36 months Interest of 1% per month on reducing balance Joint ownership with the borrower until loan is fully repaid Signed documents from dealer for purposes of payment.
Emergency Loan
Maximum of Kshs.1,000,000/= Repayment period is within 12 Months Interest of 2% per month on reducing balance Only one emergency loan can be granted at a time.
Holiday Loan
Maximum is the amount required for the full trip Repayment period is within 12 months Interest of 2% per month on reducing balance.
Why Choose Us
Borrowing Times
Borrowing at 3 times your savings.
Competitive Rates
Competitive rates for earnings on interest on deposits.
Accountability
Accountability & transparency in handling your funds.
Wider Networking
Wider networking through referral by members.
We Look forward to doing great things with you
Become a Member Today
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Make an Inquiry
Do you have questions about Savings and Borrowing Mofaa Sacco can help you. Send us an email or call us and we’ll get in touch shortly.