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Current Location
Current Location
Nairobi Province, Nairobi


Who Can Join Hazina Sacco Society?

Any person can join Hazina Sacco from all the segments of the market including: Public Service employees. Other Government Ministries and Parastals Employees of Hazina Sacco Society National Government & County Employees Employees of Private organizations & Parastatals, Private Individual members, Chamas Corporates

How do I become a member of Hazina Sacco Society?

 Fill in membership forms that can either be downloaded from our website or can be obtained from our offices or from the delegates at every county.

Attach a Copy of the National Identity Card and a passport size photograph. Entrance fee Kshs 1,000 Minimum Monthly Contributions currently Kshs. 1,000 or 5% of members basic salary, whichever is higher and Kshs. 150 being Hazina Benevolent Fund Monthly. Share Capital of Kshs. 13,000 and annual contribution of ksh.1,000

What are the Benefits of being a Member of Hazina Sacco Society?

Attractive dividends on shares and Interest on deposits Competitive Interest Rates on special deposit account and other Savings Accounts High savings will qualify for bigger Loans High savings need less guarantors to secure personal loans Access to Short and Long Term loans with competitive Interest Rates Access to variety of savings accounts tailor made to your needs such as: Holiday Account(Jipange),Jewels Childrens Acounts, Opportunity to save for Retirement

Where Hazina Sacco is located

Headquarter Offices at Kibera Road, off Ngong Road, behind Shell BP Petrol.

What is Hazina Sacco Benevolent Fund?

This Fund ensures that member savings and loans are insured in event of death. In the event of death of a member, the deposits are paid to the next of kin and the outstanding Loans are cleared by the insurance. The Fund also pays for the members Funeral expenses currently up to

Kshs 100, 000, Ksh. 75,000 to members spouse as well as Ksh.50, 000 for death of members’ child and Biological parents Kshs.30,000..

What do I require to open a FOSA Savings Account at Hazina Sacco Society?

Proper Identification documents ( National ID card or Passport) Passport size photo to be taken upon opening of the Account Opening Balance of Kshs 1,000

What are the Benefits of operating a FOSA?

Facility for banking Facility for payment of all loans, refunds, dividends etc Facility for Savings and Advances Generates extra revenues for the Sacco Contributes to overall performance of the Sacco. Can access funds beyond working hours by use of the SACCO link ATM card.

How can I acquire a Sacco Link ATM/VISA card?

Sacco link ATM card is available to all our members who have FOSA account at an affordable charge. You can withdraw cash 24 hours through Co-operative Bank Auto Branch ATM Network countrywide or any VISA branded ATM.

What are Deposits?

This is monthly savings made to the Sacco by its members and is non-withdraw able except in complete termination of membership or upon death

What is share capital?

This is money invested in a Sacco by its shareholders. It’s a long term source of finance. It represents a unit of ownership. All Sacco societies are required by law to have minimum share capital. In Hazina the minimum is Kshs 13,000, with addition of ksh.1,000 annually. This fund is used to cushion against any loss that may be incurred by the Sacco in the future. For that reason this money cannot be withdrawn but only transferable in the event the member ceases membership.

Benefits of share capital to the society

Attracts dividends at the end of every year Member owns part of the institution

How much do I need to save to acquire a loan with Hazina Sacco?

After 4 months of saving with the Sacco the member is entitled to a variety of loan products eg Development, Top up on development, School Fees, College Loan, Emergency loans, as well as Top up on Emergency loan which are granted 4 times of the member Deposits/savings

Fosa Loans advanced require a member to have salary to be channeled through the same to qualify. First Time Loan applicants are advanced loans at 4 times their deposits.

What security is needed to acquire a loan?

The Securities required include: Guarantors (who should be payroll based members of the Sacco) Plot Title deeds (Urban plots), Car log books, other securities include regular remittances such as: Monthly Savings Pension, Fixed deposit Accounts and Various savings accounts.

How long will my loan application take before disbursement?

All loans are processed as they are received as there is no waiting period. The loan disbursement options are through Electronic Funds Transfer (EFT) M-PESA, Bankers Cheques as well as RTGS. All members are encouraged to open FOSA accounts to access their funds easily with flexibility.

Can I transfer my deposits to another member?

Yes, all a member needs to do is to instruct the society in writing to transfer the deposits to another member.

Can I continue with my membership as an individual member after leaving the organization I work for?

Yes, you may place a standing order for both deposit and loan repayment.

Can I pay extra amounts outside payroll?

You can pay extra contributions/ Loan repayments using Bank deposits, standing order or direct payments through our Fosa.

Can I boost my deposits and take a loan immediately?

Yes, you can boost your deposits and apply for a loan immediately but this attracts a commission of 5%; this applies to existing members only.

Can I transfer my deposits from another Sacco to Hazina Sacco? What are the benefits?

One can transfer his deposits from another Sacco to Hazina SACCO. A member who does so is treated as an existing member upon joining the Sacco and is immediately eligible for a loan.

Can I offset my deposits against my loan?

A member is only allowed to offset his deposits against his loans if he is ceasing to be a member. He must then pay off the loan balance immediately if any. Offsets are only done when a member has asked those he has guaranteed to seek for guarantor replacements.

What channels can I use to repay for my Loan/ Deposits?

Through Check off system –deduction by the employer. Bank Standing Order Cash Payment through the FOSA or Society’s Bank Account at Co-operative Bank of Kenya. Paybill (850436)

How can I withdraw from the SACCO?

Give a written notice of 60 days Withdrawal is subject to clearance of all Sacco liabilities

Who owns Hazina Sacco?

Hazina Sacco Society is owned by the Members

What is the assurance of the SACCO’s stability and what measures have Hazina Sacco put in place to ensure it remains stable?

The Board and Management are managing the Sacco as per the Co-operative socities ACT, Rules and Sacco By –Laws. The Sacco has implemented the use of good Corporate Governance and Code of Ethics hence stability is guaranteed. The Sacco holds ADM’S yearly where reports and accounts are presented to the members. The SACCO is also licensed by SASRA as a Deposit Taking SACCO hence it’s regulated by the government.

Can Hazina buy loans advanced to members by other financial institutions?

Yes, a member qualifying for a loan may apply and have loans advanced by other financial institutions offset by the Sacco.

 Can amember apply for a FOSA loan to clear BOSA loan?

Yes, the member needs to channel his/her salary through our FOSA in order to qualify for this facility 

Can member clear loan by cash?

Yes. Once paid, a member may qualify for another loan after a period of one month or be charged an interest of 5% if the loan is required immediately.

 Does FOSA ATM expire, if it does, what is a member required to do?

FOSA ATM expires after a period of five years after which it is automatically renewed if the member account is active.

 Government is not employing and hence concern for slow growth of membership, what strategy has Hazina put in place to ensure growth

The Sacco has opened membership to the common bond where members that are self employed qualify to join as well as Chamas and Corporates. The Sacco’s focus, through the marketing team is also on recruitment of prospective members from other orgnaizations.

Does a member guaranteeing a FOSA Loan require a member to have a certain balance in his FOSA account?

No, only the minimum balance of Ksh.500 is required as the guarantor’s deposits are used for security and not his savings balance.

 Is it a must for guarantors’ salary to pass through FOSA?

No. The member’s deposits are used as security but we encourage all salaried members to channel their salary through FOSA.

 What’s the fate of guarantors for defaulted FOSA Loans?

The guarantor’s salary is attached to facilitate recovery of the defaulted loan.

 What is the process for delegates elections and how long does he/she serve

Election of delegates is carried out once after every three years at the branch level. Members elect delegates at the grass root level whereby the sub county Co-operative Officer is the returning officer. Once elected, he/she is required to serve for a three year tenure and is eligible for re-election.

How does the office deal with over deductions on welfare?

This is considered as erroneous deduction and it is therefore refunded to the member. A member should claim for refund in writing and advice on the mode of payment for the same.

How is the Sacco dealing with challenge of non remittance by employer as it causes default hence forcing members to take bank loans to clear Hazina loans?

The office has a recovery section in place which is under the loans department which follows up on unremitted funds from employers to ensure they are submitted on time to avoid inconveniences to members. However, we encourage our members to follow up on the same.

How can one get money deducted towards a defaulter’s loan?

Once the loan is repaid by the defaulter, a member is allowed to claim for the amount deducted from him for the same.

Should members standing in as witnesses on Nominees and loans be members of the Sacco?

Yes, they must be members of the Sacco who must be well known to the applicant. 

Can one apply for Hisa loan to offset part of a loan as well as boost deposits?

Hisa loan is applied by a member for the purpose of boosting deposits so that the member can access a bigger loan.

Can a member pay his loan through M-pesa?

Yes, the Sacco has a Pay bill No. 850436 which can be used for payment of loans as well as deposits. Check our website for more details on how to pay through paybill.

 What action is the Sacco taking to avoid double deductions?

The office ensures that adjustments to stop double deductions are made for the next month so that the same does not recur.

 Can a Chama/ Corporate operate a FOSA account without necessarily joining the Sacco?

No, the Chama/Corporate must be members of the Sacco for them to qualify to operate a FOSA account.

 Are parents in law included in the benevolent fund?

No, only biological parents of the member are included as per the current resolutions from the ADM.

 Can a member who passed on in 2005 be eligible for benevolent fund claim?

A deceased member can qualify for compensation if he/she was an active member at the time of death.

 How can Hazina assist members to recover defaulted loans deducted from members?

The Sacco has registered with two Credit Reference Bureaus that list members who have defaulted and such members cannot qualify for loans from other financial institutions. In addition, we have debt collectors that affected members can use to make follow-up on loans defaulted.

 Is there a difference between the Sacco’s welfare and the last expense cover that is paid by the insurance?

Yes.  Members contribute Ksh. 150 monthly to the Sacco Welfare fund and benefit as stipulated in the Sacco policy.

The last expense cover is a benefit through the Sacco loan insurance policy that only benefits the principal member, thus the family is paid Ksh.80,000/- from our insurer in addition to the Sacco welfare paid by the Sacco.

 Is it possible to advance members top up loans without charging the 8% interest?

No, all top up loans are charged at 8% interest as stipulated in the loaning policy.

 What is the minimum number of members required for one delegate?

The minimum number of members required for one delegate in Nairobi is 60 members, while that from outside branches is 50 members.

 Assuming a parent has three children, how do the children benefit from the benevolent fund?

The benevolent fund covers all members’ children who are below the age of 25 years. However, a member can only be paid for two children per year.

 A member is obliged to consistently make loan payments monthly, is he/she still required to be penalized if he travels out of the country but the employer fails to remit deductions.

A loan is declared defaulted if it’s not serviced within a period of three months. A member travelling out of the country has an obligation to inform the office of any arrangements made to ensure that deductions are consistently remitted.

 They can follow up on the status of their account by checking their statement through the web portal or by requesting their statement from the office through email.

Can a member benefit from the benevolent fund if he/she dies before making contributions for six months?

No. A member can only benefit for benevolent fund refund if they have been active for a period of six months. However, they will benefit from the last expense cover payment of Ksh. 80,000.

For more details contact the Business Development & Loans Recovery Manager

Telephone: 020-2719098/2722106

Mobile: 0701819685-0701820219-0735926900

P.O Box 59877 – 00200 Nairobi

Email: info@hazinasacco.or.ke