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Qualifications

MEMBERSHIP QUALIFICATIONS

 

Any person shall be eligible for membership if he/she possesses either or all of the following qualifications: –

    1. Is within the field of membership; that is, within the common bond.
    2. Is not less than 18 (Eighteen) years of age.
    3. Is not a member of another Salaried based SACCO in the country
    4. Is not directly a money lender or carrying out such activities detrimental to the objectives of the Society.
    5. Is of good character
    6. Has regular income from employment , business or trade
    7. Is an employee of the society or a subsidiary of the society
    8. Is resident within or occupies land within the society area of operation
    9. Is in employment, occupation or profession which falls within the category or description of those for which the co-operative is established.
    10. Is a spouse or a member of the immediate family of a member or an employee of Egerton University, University linked institutions registered in Kenya and other organizations or individuals admitted into membership subject to the terms and conditions set by the Board of Directors and approved by the General Meeting ; provided, minors shall buy shares, make savings or deposits but will not borrow or guarantee others, nor participate in the management of the society.
    11. Pays the prescribed entrance fee and minimum share capital.
    12. a) Accepts the objectives of the society, the obligations of members and other conditions as stated in the SACCO By-laws.

b) Any other person who can contribute and benefit from the services offered by the society and whose application has been approved by the Board or it’s designate. (Although an employee of the Society may become a member of the Society he/she shall not be a member of the Board except as specifically provided in the SACCO By-laws.)