CEREAL GROWERS SACCO SOCIETY LIMITED
To be the preferred financial services provider.
BACKGROUND
Cereal Growers SACCO Society Limited is a savings and credit Cooperative established in 2013 by the Cereal Growers Association (CGA) with the aim of improving the economic and social livelihood of its members. The SACCO was registered with the Ministry of Industrialization and Enterprise Development on 24th September 2013 under the Cooperative Societies Act No.12 of 1997.
It is currently governed by the said Act and its by-laws.
The SACCO’s membership is mainly comprised of the farmer members of CGA and other stakeholders.
The launching of the SACCO was a response to the plight of farmers in accessing affordable finances to cater for their immediate financial needs.
It is for this reason that Cereal Growers Sacco seeks to promote a saving and investment culture among the members to build wealth for sustainable economic and social development.
PRODUCTS AND SERVICES
1. Member Deposit Accounts.
2. Placement Accounts.
1. Development Loans
2. Group loans
3. Individual Member Loans
4. Top-up loans
5. Personal/Emergency Loans
6. Special emergency loans
MEMBERSHIP
INDIVIDUAL MEMBERSHIP
- Complete a membership application form.
- Be a Kenyan citizen, 18 years and above.
- A copy of the national ID card or Passport.
- Two current coloured passport-size photographs.
- Pay non-refundable entrance fee of Kshs 1500.
- One-off, fully paid up 250 shares of Ksh. 20 each, a total of Ksh. 5,000 share capital.
- Minimum monthly contribution of Ksh 2000.
- Appointment of a Nominee (s)/Next of kin is required.
CORPORATE MEMBERSHIP
- Compelete a membership registration form.
- Pay a non-refundable entrance fee of Ksh 2000.
- Fully paid-up shares of 250 of Ksh.20 each, a total of Ksh 5000.
- Minimum monthly contribution of Ksh.4,000.
- Two coloured passport size photographs for each signatory.
- Copies of the signatories’ ID card/Passports.
- Copy of registration certificate.
- Copy of PIN certificate.
- Resolutions/minutes authorizing opening of account.
- Copy of memorandum and articles of association/constituion.
- If a self-help group, provide a list of all the members of the group, their telephone numbers and ID numbers.
Admission Procedures into Memberships
- Every applicant for membership shall complete an ‘application form for membership.
- An applicant shall be admitted to membership on being accepted by a resolution of the management committee obtained by a simple majority, but shall not qualify for the rights and privileges of membership until she/he pays an entrance fees of kshs 1500 (individual) and kshs 2000 (corporate).
- Upon payment and admitted, the applicant is assigned a membership Number as a means of identifying his/her account with the Society.
PAYMENTS/REMITTANCE OF FUNDS
All members are advised that the SACCO office will under no circumstances accept payments in cash. All payments in form of cash or cheques should be deposited into the SACCO Bank Account in any Cooperative Bank Branch into the account below:
Account Name: Cereal Growers SACCO Ltd
Branch: Westland Branch
Account Number: 01120154202000
Mpesa Paybill number: 823291
Account number: membership number
For Enquiries/More Information
Contact:
Sacco Manager
Cereal Growers Sacco Ltd
Off Waiyaki Way, Mountain View Estate, House No.268
P.O Box 27542, 00506, Nairobi.
Tel: +254740020040
Email: sacco@cga.co.ke