Police SACCO Latest News- Are you looking for one of the best performing SACCOs in Kenya, currently? Well. Police SACCO is one of the best and top performing SACCO to join.
Get all the relevant information about the Kenya Police SACCO before deciding to join them. This information, provided, here is key in making an informed decision on joining the SACCO; to avoid future regrets.
Background Information About the Kenya Police SACCO
The Kenya Police SACCO Limited is one of the oldest SACCOs in the Country. The SACCO was registered on 20th November 1972 and was issued with a registration certificate number CS/2092. The Society started with a membership of 690 and has since grown to 63,450 members. It has 12 elected members; 9 form the Board of Directors and 3 the Supervisory Committee.
Why Join the Kenya Police SACCO
Joining the Police SACCO comes with a number of key benefits to the members. Some of these include:
- Low interest rates on loans
- Instant M-Tawi FOSA loans
- Affordable property with Investment Co-operative
- High annual dividends and interest on deposits
- Loan clearance on behalf of members
Minimum requirements for joining the Kenya Police SACCO
Joining the Kenya Police SACCO is easy. Here are the categories of individuals who can join the SACCO:
- Serving and retired Regular Police Officers,
- Serving and retired Administration Police Officers,
- Civilian in the employment of the Kenya Police Service,
- Employee of the Kenya Police Sacco Society,
- Permanent employee of Utumishi Investment Limited,
- Permanent employee of Ruaraka Housing Estate Limited,
- Employees of the civil service,
- Employees from corporate entities operating in Kenya,
- Business Community and
- Spouse, son or daughter of the above members.
All that you need to do is to fill the Kenya Police membership form that is available on their website; https://policesacco.com/
The Kenya Police SACCO Branches and Offices
| S/NO |
BRANCH NAME |
PHYSICAL LOCATION |
PHONE NUMBER |
| 1 |
HEAD QUARTERS ‐ NAIROBI |
Ngara Road, off Muranga Road |
0709 825 000 |
| 2 |
MOMBASA BRANCH |
Oriental Building, ground floor, Nkurumah Road |
0709 825 505 |
| 3 |
ELDORET BRANCH |
Zion Mall, Ground Floor, Eldoret – Uganda Road, Opposite Kenol |
0709 825 530 |
| 4 |
KAKAMEGA BRANCH |
Daaron Foundation Trust building, Ground floor, Off Mumias Rd opposite NALA Hospital |
709825560 |
| 5 |
MERU BRANCH |
Solco Plaza, Ground Floor, Moi Avenue |
0709 825 590 |
| 6 |
NYERI BRANCH |
Kasturi Plaza, 1st Floor, Kimathi Street |
0709 825 570 |
| 7 |
KISII BRANCH |
Mocha place, 2nd Floor, Opposite Tuskys |
0709 825 551 |
| 8 |
NAKURU BRANCH |
SAILEE HSE on the GROUND FLOOR. Kenyatta Avenue opposite Nyayo Gardens |
709825600 |
Related news;
The Kenya Police SACCO Loans.
The SACCO offers a wide range of loan facilities to members. These are:
Mega Loan
- Repayment period is 72 months.
- 3 times members deposits.
- Interest rate is 14.7% on reducing balance.
- Salary must pass through POFOSA.
- Minimum deposit contribution of KES 300,000.
- Monthly deposit contribution of 12% of basic salary.
Super Loan
- Repayment period is 60 months.
- 3 times members deposits.
- Interest rate is 14% on reducing balance.
Normal Loan
- Repayment period is 48 months.
- 3 times members deposits.
- Interest rate is 12% reducing balance.
Refinancing Loan
- Repayment period is 48 months
- 3 times members deposits
- Interest rate is 12% reducing balance.
Emergency Loan
- Repayment period is 12 months.
- 3 times members deposits.
- Interest rate is 12% reducing balance.
School Fees Loan
- Repayment period is 12 months.
- 3 times members deposits.
- Interest rate is 12% reducing balance.
Muslim Loan
Available to Muslim members.
- 2 times members’ deposits.
- Repayment period is 48 Months
- No interest is charged on the loan.
- One off commission of 2.5% of the applied amount is charged.
- The member who applies for this loan is not eligible to get dividends
Muslim Emergency Loan
Available to Muslim members
- 2 times members deposits
- Repayment period is 12 Months
- No interest is charged on the loan.
- One off commission of 2.5% of the applied amount is charged.
- The member who applies for this loan is not eligible to get dividends.
Asset Financing Loan
The Sacco has partnered with various providers to help members purchase water tanks, solar panels and household electronic appliances.
- Repayment period is 24 months.
- 3 times members deposits
- Interest rate is 12% reducing balance
Salary Advance
Salary advances are available to members whose salary is processed through the POFOSA. There are 3 salary advance products and they include:
- M-Sasa: This product is repayable in 3 months duration and at interest rate of 2% per month
- FOSA Flex: Is a product repayable in 6 months and at an interest rate of 3% per month
- FOSA Golden: This is a newly introduced product, it is repayable within 9 months at an interest of 4% on reducing balance.
Also available are many savings services.
