About - Muki Sacco Society

Who we areAbout
Muki Sacco Society Ltd

Muki Sacco Society Limited is a Deposit Taking Sacco established in 1990 and registered under Co-operatives Societies Act (Cap 490) of the laws of Kenya. Muki Sacco is regulated by Sacco Societies Regulatory Authority (SASRA). Our main objective is promoting thrift and savings amongst our members thereby creating a source of loanable funds.

Vision

To be the leading SACCO in addressing members’ financial and social needs.

Mission

To empower our members socio-economically through mobilization of savings and provision of market driven financial solutions.

Core Values

• Integrity
• Professionalism
• Teamwork
• Confidentiality
• Transparency & Accountability
• Service Excellence

Motto

Pamoja Twajenga

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Save

Muki Sacco Helps you save for your short and medium term financial obligations such as dowry payments, christmas vacations, child’s education, motor vehicle service and insurance fee, wedding among others

Invest

Muki Sacco offers individuals and groups an opportunity to save and grow their money for the future through regular savings and investments products.

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Borrow

Get emergency loans, school fees loans, fosa loans, biashara loans and many more. Our loans are processed within the shortest period after all documents have been approved.

About
Our History

The birth of Muki Sacco is a shouting story of success and a living testimony that when people with a common goal and good leadership come together, they can transform their lives.
Before the formation of Muki, the lives of dairy farmers in Kinangop was pathetic:

They did not have a ready market for their dairy produce. On several occasions, they had to pour their milk which would be swept away by rainwater into the rivers.
They did not have a financier to assist them to get credit facilities to take their children to school and develop their farms.
Many a time they were robbed of their milk payment by unscrupulous milk traders.

They had almost lost hope in life.

But on the cool morning of 29th June 1989, a group of about twenty-nine (29) farmers sat on stones and offcuts at Kimwatu Farm and agreed to form a Sacco.

They came up with a name and an interim committee to work out the constitution and by-laws. Mr. L. N. Waithaka became the first chairman, Mr. Nyaga Ndonga the vice chairman and Mr. John Macharia, a school teacher (now retired) the honorary secretary

The bold step was taken as a means of bailing the desperate farmers from teething financial problems since they could not access credit from commercial banks.

The Sacco was registered in 1990 to give the community in North Kinangop an opportunity to save and borrow. Since then Muki Sacco was born and there was no looking back.

The Society initially started with the Savings Section commonly known as BOSA (Back Office Savings Activity) and later broadened the services to include Front Office Savings Activity (FOSA) in the year 2000.

Join us today!Membership

Initially, the Society drew its membership from the Dairy farmers. Subsequently the Society opened its common bond to allow membership from other areas e.g Agri-Business, S.M.E(s), Salaried people, Chamas, Investment groups, Institutions like Churches, Schools, Co-operatives societies etc.

Becoming a member of MUKI SACCO is easy; We have Three categories each designed to meet your financial needs i.e. as an individual, Corporate or as a group.

Membership Requirements:

1. An individual Account

Original and copy of National id or Passport
Passport size photo (Taken at the branch)
KRA pin Certificate

2. Corporate/ Institution / Company Account

Certificate of registration
Certificate of incorporation
Directors Resolution to open Account
KRA PIN Certificates {Company and Directors}
Directors Original and copy of National ID or Passport.

3. Groups Account

Signatories’ Original and copy of id card
Group Minutes
Original and copy of group’s Registration Certificate
Group’s bylaws
Signatories Copy of KRA PIN Certificate

Governance

The Board of directors is the top management organ of the SACCO with nine officials and three supervisory committee members. The day to day management of the SACCO is under the Chief Executive Officer (CEO) who is an ex- officio member of the board.

C.E.O

Violet Ndung'u

Thank you for visiting our website to learn more about Muki Sacco. We feel honored that you have considered us to offer solution to your financial service needs. Muki has been serving members and families in the larger Nyandarua and Nakuru counties for over 33 years. We’ve become one of the fastest growing financial institutions in the region now serving over 50,000 members.

I appreciate the trust and confidence you have placed in us and in return, you have our commitment of continuously providing superior service and the products that best serve your needs.

I encourage you to explore the numerous products and services we are currently offering and continue to add. No matter what stage of life you find yourself in, we are likely to have a product or service that you will find beneficial. Muki Sacco offers much more than simply ordinary savings accounts and Normal Loans.

In our efforts to endeavor to become effective in our operations to serve our members better, we are focusing more on technology-driven products and partnerships. For example, In partnership with Safaricom, we are currently enrolling our business clients and institutions into our Lipa na Mpesa platform. Through this solution, our members are able to push funds received from their paybill and Buy goods numbers to their Muki Sacco Accounts on a real-time settlement.

We are on Mobile banking, by dialing *850# our members are able to: Enquire about their Account balances, Transfer Funds from one Muki Sacco account to another, M-Pesa transfers i.e Deposits and Withdrawals, apply for Mobile loans, buy airtime and Pay their bills.

We have got ATM Cards whereby our members can access their account balances through any Ken Switch link-enabled ATM machine.

Lastly, we have Personal cheques to facilitate our members making payments to third parties.

We recognize you have a choice on where you do business and we will continue to work to maintain your trust as your Sacco of choice with better rates on loans and deposits, with lower fees for services, and by treating people the way we would like to be treated.

As always, I welcome your feedback and suggestions on how we can continue to best serve you, To our members. you are the real owners of this great institution, and our only job is to serve you.

Next time you’re in the market for a new financial product or service, give Muki Sacco a call and you’ll discover why Muki Sacco is your local advantage!

Thanks for visiting. We hope to serve you soon.

Sincerely,
Violet Ndungu
C.E.O

Sacco Chairman

John Gichigi

On behalf of my fellow directors, I welcome you to view, interact with us and learn more about our products and services. Muki Sacco is purely owned by our members, As the Sacco directors, our main role is to act in the best interests of the members and the Sacco at large. Our main responsibility is to ensure the Sacco works for its members, now and long into the future.

Muki Sacco Board and supervisory Committee Members represent a wide array of experience and expertise. We have individuals elected to the Board with decades of service. They enhance the Sacco with skills sets including finance, accounting, HR, and business development.

Since being Licensed by SASRA in 2014, the Sacco has grown to over 1 Billion in assets, with nearly 100 employees in our 9 branches, serving over 50,000 members.

According to Jim Collins, “Great Vision Without Great People is Irrelevant” the board and management have attached a lot of importance to human capital because it is the key pillar that drives our vision. For us to serve our members better, We are putting a lot of weight on capacity building of our staff in order to equip them for improved service delivery to our customers. Occasionally we train our employees on the best practice on customer service, product knowledge, customer relationship management and credit management among others.

Muki Sacco’s commitment to conservative operations and providing value to members has led to unprecedented growth over the past several years. You have our commitment that we will continue to work in your best interests, so that Muki is here to meet your needs today; and your family’s needs tomorrow.

I take this opportunity to appreciate My fellow directors and the supervisory committee for their guidance and support to the management as they exercise their oversight role. Our members of staff for their endless commitment to serve our members diligently. Special thanks go to our valued shareholders and members for their continued trust and confidence in this great institution. The success witnessed so far at Muki Sacco would not have been a reality without you.

Thank you for the faith and trust you place in us, and thank you for being part of an amazing success story.

Sincerely,
Sacco Chairman
John Gichigi

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Membership QueriesFrequently Asked Questions

Who owns MUKI Sacco?

Muki Sacco Society is owned by members.

If one share is 500 kshs why do I get charged 600?

Ksh 600 goes to the member deposit account as savings while Ksh 100 acts as a security fund.

How does a member benefit from the security fund?

In case the principal member dies, a benevolent fund of 30k is given to the family of the bereaved and 15k in cases of the next of kin for a decent send-off.

How do I qualify for divided?

Every member with Sacco Shares is entitled to receive dividends.

Can I withdraw my shares?

Yes. Upon making a formal shares refund request with a 60 days notice.

What is share capital?

This is money invested in the Sacco by its shareholders. It represents a unit of society ownership by its members.

Is the share Capital refundable

The share Capital is only transferrable but not refundable.

Can I take a loan against my share deposits?

Yes after 4 months of being an active member, you can qualify up to 3 times your Member deposits.

What is the assurance of Muki’s stability?

The Sacco is licensed by Sacco societies regulatory Authority (SASRA) as a deposit taking Sacco. All our activities are governed by the Cooperative societies ACT and our by laws. The sacco holds annual general meeting where audited financial accounts are presented to the members.

Become a member today!