Nyati Sacco is a cooperative society that offers a wide range of financial products and services to its members.
Nyati Sacco was established in 1977 by employees of Kenya Wildlife Service (KWS) and has since grown to become one of the largest and most successful Saccos in the country.
The Sacco has over 33,000 active members from various sectors, including security, education, health, transport, and agriculture.
Nyati Sacco aims to improve the socio-economic well-being of its stakeholders by providing diverse and cost-efficient financial services.
Its vision is to be the preferred Sacco of excellence.
Nyati Sacco operates under two main divisions: FOSA and BOSA.
FOSA Services
FOSA (Front Office Services Activity) is a Sacco product that offers basic banking services like those offered by commercial banks.
However, Nyati Sacco is not a clearing agent, meaning that it cannot issue cheques or process electronic transfers.
FOSA services include:
- Savings accounts
- Current accounts
- Fixed deposit accounts
- ATM cards
- Mobile banking
- Salary processing
- Money Transfer
- Bill payments
- Loan disbursement and repayment
Members can access their accounts through Nyati Sacco branches, ATMs, mobile phones, or agents.
FOSA members can also enjoy lower interest rates and higher dividends than non-FOSA members.
BOSA Services
BOSA (Back Office Services Activity) enables a member to make deposits and access credit services. The deposits are non-withdrawable and are used as collateral for loans. BOSA services include:
- Regular savings
- Share capital
- Benevolent fund
- Education fund
- Holiday fund
- Development fund
- Emergency loans
- School fees loans
- Development loans
- Asset finance loans
- Booster loans
- Cash advance loans
- Refinancing loans
- Top-up loans
Members can borrow up to four times their deposits, subject to their repayment ability and guarantorship.
BOSA members can also benefit from lower interest rates, flexible repayment periods, and insurance coverage for their loans.
Nyati Sacco Housing Cooperative
Nyati Housing Cooperative Society is a sister company of Nyati Sacco that offers affordable housing solutions to its members. The society has a wide range of projects, including:
- Nyati Estate in Kitengela
- Nyati Gardens in Athi River
- Nyati Plains in Isinya
- Nyati View in Ngong
- Nyati Hills in Kiserian
- Nyati Springs in Rongai
- Nyati Villas in Syokimau
- Nyati Ridge in Machakos
Nyati Housing Cooperative Society helps its members acquire land, finance construction, and access legal services.
The society also partners with other stakeholders, such as the National Housing Corporation, to provide quality affordable housing.
How to Join Nyati Sacco
To join Nyati Sacco, you need to meet the following requirements:
- Be a Kenyan citizen or a resident with a valid work permit
- Be above 18 years of age
- Have a regular source of income
- Fill in the membership application form
- Pay a non-refundable registration fee of Ksh. 1,000
- Buy a minimum of 200 shares at Ksh. 20 each
- Make a minimum monthly deposit of Ksh. 1,000
- Provide a copy of your national ID or passport
- Provide a copy of your KRA PIN certificate
- Provide two passport-size photos
- Provide a copy of your payslip or bank statement
- Provide two guarantors who are Nyati Sacco members
You can download the membership application form and other relevant documents from the Nyati Sacco website.
You can also visit any of the Nyati Sacco branches or contact the customer care team for more information.
Why You Should Choose Nyati Sacco
on dvantages of Nyati Sacco
Nyati Sacco is more than just a financial institution. It is a community of like-minded people who share a common vision and mission. By joining Nyati Sacco, you will enjoy the following benefits:
- Access to affordable and flexible financial services
- Opportunity to save, borrow, and invest for your personal and business needs
- High returns on your savings and shares
- Security for your deposits and loans
- Participation in the governance and decision-making of the Sacco
- Access to education and training on financial literacy and management
- Access to social and welfare services, such as health, education, and housing
- Networking and partnership opportunities with other members and stakeholders
- Contribution to the socio-economic development of the country
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Conclusion
Nyati Sacco is a leading SACCO in Kenya that offers a wide range of financial products and services to its members.
Whether you are looking for savings, loans, or housing solutions, Nyati Sacco has something for you.
Nyati Sacco is committed to enhancing the socio-economic well-being of its members and stakeholders.
By joining Nyati Sacco, you will become part of a cooperative movement that values trust, integrity, and excellence.
