Fulfilling Dreams
Providing credit facilities at a fair and reasonable interest rate
Nation SACCO has been in operation for almost 50 years, having been registered on September 15, 1975.
Its main purpose is to give members an opportunity to save and make deposits and also, provide them with credit facilities at a fair and reasonable interest rate. As of December 2023, the Sacco had an asset base of Kshs 3.5 billion with 7,000 members.
Currently the society operates FOSA and BOSA services, offering diversified products that suit members’ needs. Until 2010, the society used to run back-office services offering the traditional Sacco products and services. In March 2010, Front office operations commonly referred to as FOSA was launched to diversify product base and increase the society’s revenue stream, in addition to offering basic banking facilities such as bankers cheques, salary savings account, money transfer services, ATM services among others.
Since then, Nation Sacco has become a Deposit Taking Sacco (DTS), licensed by SASRA – the Sacco Societies Regulatory Authority.
In the past, membership was restricted to Nation Media Group employees and the subsidiary/associated companies. We however opened membership to the public to enable us grow the membership base in addition to continually offering quality services to our members. We have since seen rapid growth in membership and asset base.
Invest with us
Membership is open
In the past our common bond was limited to Nation Media Group employees, and the subsidiary/associated companies, but in the recent we have opened to public to enable us grow the membership base in addition to continually offering quality services to our members.
Teamwork
Customer Excellence
Integrity
Governing Laws
Basic Requirements
Members joining from other Saccos who transfers their deposits to us will be treated as continuing members and will enjoy same privileges as the existing members.
Frequently Asked Questions
We are a deposit taking Sacco that is regulated by the Sacco Societies Regulatory Authority (SASRA) which closely monitors the financial operations of Sacco’s. It ensures the member’s funds are safe.
VISA cards enables FOSA account holders to access cash in their account any time and from any visa branded outlets. They can also be used to shopping and payment of utility bills at all VISA compliant points.
This is the payment of member’s net pay/salary through the FOSA account. Your employer will remit your net pay into our account which you will access directly from your FOSA account.
Loans recovered through the payslip are subject to 1/3rule limit. However, you can access more credit facilities from FOSA if your salary is paid through FOSA.
Yes. We put you in a class of members we refer to as “Special members”. You will be required to adhere to the Sacco by-laws and regulations. You will keep your account with the Sacco active in regard to monthly share contribution and loan repayment. You will be entitled to same privileges as regular Sacco members within employment.
A person can guarantee a maximum of seven loans subject to the loans held by the Guarantor.
Guarantors are Sacco members who are in permanent employment. Non-permanent staff can guarantee but to the extent of their deposits.
Yes. Dividends are as a result of interest earned/received from loans issued to members. Once they are declared by the board and approved by the AGM, they are distributed to all the persons who were members in good standing with the society as at the close of that financial year, i.e. their contribution and loans are up to date.
