About Us


United States International University Savings & Credit Co-operative Society (USIU-SACCO) is a savings and credit cooperative society that was registered under the Ministry of Cooperative Development and Marketing on 16th January 1985. We are regulated by SASRA (Sacco Societies Regulatory Authority).


Objectives


  • To promote thrift among its members by affording them an opportunity for accumulating their savings, thereby creating a source of funds from which loans can be made to them.

  • To carry out investments, which should increase volume of output, and surplus to the Society, improve and maintain a healthy liquidity position, and benefit members and their families

  • To offer members complementary savings and credit services as may be required by members from time to time.

  • To ensure safety and soundness of the members funds through risk management programs or any other appropriate insurance schemes.

  • To ensure progress of its members by educating them continuously on proper use of credit.

  • To perform all those functions and exercise those powers designated under applicable laws for Savings and Credit for the benefit of members, in order to promote members interests and further enhance their benefits, thus improving members' economic and  social conditions.

   Membership & Eligibility


Eligibility for membership is based on the following qualifications:


  1. Must be an ordinary resident of Kenya.
  2. Is at least 18 years of age.
  3.  Has not been convicted of a criminal offence involving fraud or dishonesty.
  4. Is within the field of membership consisting of the following common bond;


 a).  Employees of United States International University serving on permanent or contract terms and its subsidiaries found within the Republic of Kenya.


b).  Is an adjunct faculty member of the United States International University.


c).  The members who have retired/resigned from service can continue enjoying the full privileges and rights of a member on recommendation by the Management Committee.


d).  Is an employee of the United States International University Sacco Ltd or other member accepted by the Management Committee and approved by the General Meeting.


Applicants for membership under (c, and d) shall only be admitted into the Society subject to terms and conditions set by the committee and approved by the General Meeting either specifically or generally.



All applicants must fill a Sacco membership form with an entrance (application) fee of KShs. 1,000/= and qualifies for a loan after contributing for a minimum of six (6) months.

The minimum savings contribution is KShs. 3,000/= per month.

General Qualifications for Any Loan.


  1. Fully completed loan application form.
  2. All loans must be guaranteed by self or by a guarantor or guarantors who must be an active member or members respectively, and must have contributed for at least six months. Guarantors' and/or applicants’ shares MUST be equal to, or more than the loan applied for.
  3. Employer MUST sign and rubber stamps the application form.
  4. Outstanding loan by the applicant MUST be cleared before a loan of the same kind is ap- proved - with an exception of the Short Term Loan.
  5. A most current pay slip certified by the applicant’s employers’ payroll officer, MUST be attached to the application.


The SACCO encourages members to borrow and utilize borrowed funds wisely. It is further en- couraged that funds borrowed be utilized for the purpose stated in the application.