Page 26 - SACCO STAR ISSUE 43

KMFRI SACCO

KMFRI SACCO proposed building project. Membership in KMFRI SACCO Ltd is open to KMFRI employees
(Class A), public and private sector employees (Class B)
KMFRI SACCO, established in 1983 by business people and individuals (Class C).
Kenya Marines and Fisheries Research
Institute employees has in the last three CLASS REGISTRATION FEES
decades grown in leaps and bounds. (Ksh)
Today, it has over 5,000 members and is A SHARES DEPOSITS
renowned for making significant improvement in its B
members’ lives. C 1,100 4,000 7% Basic Salary
1,000
The SACCO strives to provide unique and diversified 1,100 3,000 1,000
financial services at par with the dynamic economic
environment. It offers a variety of products tailored 1,100 1,000
to the needs of its members, from savings for
personal development to investment of different The society opened a common bond in 1999 and now
business ventures. provides savings and credit facilities to individuals, groups
and institutions drawn from all over Kenya.
KMFRI SACCO focuses on providing adequate
financial guidance and facilities that enable KMFRI SACCO is headquartered in Mombasa and effectively
members to accumulate finances, plan investments serves members as far as Kisumu, Naivasha, Nairobi, Kisii,
and access credit to improve member’s livelihood. Baringo, Kitale, Turkana and Sagana.

It also serves members from all sectors of economy The Society started the Front Office Services Activity (FOSA)
from individuals, businesses, organizations and in November 2007 to offer quasi banking services to its
welfare groups. members.

KMFRI SACCO membership benefits include GOVERNANCE
KMFRI SACCO is governed by the Board of Directors, chaired
Accumulation of savings through deposit by Mr. Rashid Anam, with the major decisions made through
contribution the Annual Delegates Meeting.
Access to loans at low interest rates
Investment opportunities and ownership of PRODUCTS AND SERVICES
the SACCO KMFRI SACCO products and services are only available to
Competitive returns on investment registered members of the Society.
Education and training on financial
management Back Office Service Activities
Development loan
Refinancing loan
New product loan
Education loan
Limitless loan
Safina loan

*Guarantors and/or security is required to access loans.