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ABOUT US AND HOW TO JOIN

Yoken SACCO is a member-based SACCO that was originally established by employees of Fides Kenya Ltd to help promote financial growth among members.

Like other SACCOs, the primary way you benefit by joining Yoken SACCO is getting access to affordable credit – and members need to build up their savings to qualify for loans after 6 months.

Yoken SACCO membership is now open to Kenyans outside of Fides Kenya Ltd- but you need to be introduced by an existing member of the SACCO. Apart from direct employees of Fides Kenya Ltd, their Spouses and Children- aged 18+ years- can also join directly.

Requirements to Join Yoken SACCO

These requirements differ based on whether you are joining the SACCO as an individual, Small Medium Enterprise(SME), CHAMAZ, or a Corporate.

The basic requirements for individuals.

• Copy of your national ID card
• Your first monthly contribution (Be ready to be meeting the monthly share contribution obligation)
• Registration fee
• Share capital

How to Join Yoken SACCO (Monetary Requirements for those joining as individuals)

• Membership registration fee of Ksh. 200
• Minimum monthly contribution of Ksh. 1200
• Minimum non-refundable Share Capital of 210 shares @ Ksh. 20 totaling Ksh 4,200 – this can be paid in installments (You must pay the entire share capital amount within the six months after registering)

 Requirements to join Yoken SACCO as a CHAMA

• Membership Fee of Ksh. 1,000
• Minimum monthly deposit of Ksh. 5,000
• Ability to raise 20% deposit in case of loan requests
• Purchase minimum shareholding of Ksh. 10,000 in Yoken SACCO on joining
• The CHAMA must be legal and duly registered (certificate of registration needed)

Here is a vital requirement: One of the CHAMA members must be a member of the Yoken SACCO for the chama to be accepted.

Requirements to join Yoken SACCO as an SME (Small Medium Enterprise)

• Registration Fee of Ksh. 1,000
• Minimum Shareholding = Ksh. 2,000
• Minimum monthly contribution of Ksh. 5,000

Requirements to join Yoken SACCO as a corporate

• Membership Fee: Corporates pay Ksh. 2,000 as new membership registration fee
• Minimum Shareholding amount: Ksh 20,000
• Monthly contribution (minimum): Ksh. 5,000 is the least amount you can deposit into your account as a corporate.