Safaricom Sacco was established in the year 2001,and has grown tremendously over the years to a membership of over 12,000 members drawn from Safaricom Limited and other technology related companies.
Their main objective is to promote a savings culture among their members as well as grant them loans so that they may develop and improve their economic and social well being.
There are two ways you can join Safaricom Sacco;
- Online through iconnect web portal
- Download the registration form, fill it with your personal details, attach a passport photo, a copy of your id and KRA pin certificate and drop it at the nearest Safaricom Sacco office.
Below are the requirements you need to provide when joining Safaricom Sacco;
- Pay an entrance fee of Ksh 1,000.
- Purchase a minimum share capital of 400 shares of Ksh 1,000 each.
- Contribute a minimum monthly contribution of Ksh 3,000.
- Once you join, an SMS notification with your member number will be sent to your phone.
How to withdraw money from Fosa account to M-pesa
There are two ways you can withdraw money from your Fosa account to your M-pesa account
- Through SAFCIRI app.
- Through *345* USSD option.
How to withdraw money from Fosa account using SAFCIRI app
- Download the SAFCIRI app from Google play store and install it in your phone.
- Open the app and you will be prompted to select two options i.e Activate and register
- If you have used the USSD *345# or the app before select activate then jump to step 6 below
- If it’s your first time ,select register then enter your phone number .
- An OTP (one time password) will be sent to your phone via SMS.
- Enter your ID number when prompted.
- Login to the app using the OTP and you will be prompted to change your password to your own 4 digit pin.
- Click on activate account and select send me an activation key.
- Enter your phone number and the pin number that you set.
- Click OK. An activation code will be sent to your phone via SMS.
- Finally enter your USSD pin to login to the app.
- Select mobile money option.
- Select withdraw and follow the prompts to finish the process.
Safaricom Sacco Loans
Below are the type of loans that Safaricom Sacco offers to its members;
| Type of loan | Interest rate (p.a) | Eligible Amount | Repayment Period |
| Emergency | 12% | 3 X shares | 12 months |
| Asset Financing | 12% | 3 X shares | 48 months |
| Faraji construction home | 9% | 5 X shares | 25 years |
| KMRC mortgage | 8% | 5 X shares | 25 years |
| Ustawi mortgage | 12% | 5 X shares | 15 years |
| Land | 12% | 3 X shares | 48 months |
| Fosa silver | 5% p.m | 4 X net salary | 6 months |
| Insurance premium | 12% | 3 X shares | 6 months |
| Business | 18% | 5 X shares | 24 months |
| Pamoja | 9.6% | 3 X shares | 6 months |
| Smart home | 12% | 3 X shares | 12 months |
| Education | 12% | 3 X shares | 12 months |
| Development | 12% | 3 X shares | 72 months |
| Premium | 12% | 5 X shares | 48 months |
| Car | 12% | 3 X shares | 48 months |
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