Mhasibu NWDT SACCO: A Smart Investment Partner For All Professionals

Soko Directory Team

3 years ago

Are you looking for a reliable and reputable financial partner that can help you achieve your personal and professional goals? If you are a professional in any field, you should consider joining Mhasibu SACCO, the SACCO for All Professionals.

Mhasibu SACCO is a savings and credit cooperative society for all professionals. Over the years, it has grown to become one of the leading Tier 1 SACCOs in Kenya that is regulated by SASRA, with over 23,000 members globally and an Asset Base of over KES. 8.5billion.

SACCO offers a wide range of products and services tailored to meet all your needs. Whether you want to save for your future, invest in your business, buy a home, educate your children, or access emergency funds, Mhasibu SACCO has a solution for you.

But why consider Mhasibu SACCO in the first place? Here are some of the benefits of joining and investing with them.

Competitive interest rates on savings and dividends.

Mhasibu SACCO pays interest on deposits and dividends on share capital every year to all its members. The interest rate on deposits is based on a pro-rata basis, which means you earn interest according to your balance throughout the year. The dividend rate on share capital is based on the profitability of the SACCO.

Flexible and affordable loan products.

Mhasibu SACCO has various loan products that cater to different purposes and repayment periods. You can borrow up to four times your deposits plus share capital (the current offer is 5 times), depending on the type of loan. You can also top up your existing loan or refinance it at a low-interest rate. In case you have an emergency, you can instantly access up to 1 million through the Rahisi loan product without any paperwork and repay at an interest rate of 10% p.a. on reducing balance. Some of the other loan products offered by Mhasibu SACCO include Normal Loan, Gold Loans, Swift Loans, Emergency Loan, School Fees Loan, Development Loan, Asset Finance Loan, Mortgage Loan, and Mobi Loan.

Convenient and secure payment modes.

Mhasibu SACCO has made it easy for its members to make their monthly contributions and loan repayments through various payment modes. You can use M-Pesa, standing orders, deposit slips, cheque payments, or online banking. You can also access your account information and statements through the online portal, USSD, and mobile app.

Financial literacy and empowerment programs.

Mhasibu SACCO is committed to enhancing the financial well-being of its members by providing them with financial education and advice. The SACCO organizes regular hybrid seminars, workshops, webinars, e-bulletins, and newsletters that cover topics such as budgeting, saving, investing, debt management, retirement planning, and entrepreneurship. The Sacco equally contracts the services of financial and investment consultants to educate an empower its members in each of these forums.

Social welfare and networking opportunities.

Mhasibu SACCO is more than just a financial institution; it is also a community of professionals spanning from accountants, marketers, doctors, nurses, graphic designers, engineers, human resources, and supply chain professionals just to name a few that share common interests and values. The SACCO organizes social events such as sports days, family fun days, member education days, and annual general meetings that enable members to interact and network with each other. The SACCO also has a risk fund that provides financial assistance to beneficiaries of members in case of the demise of a member where the payment is double the amount saved, any existing loan is cleared, and KES. 150,000 paid towards burial expenses.

Wide Variety of Acceptable Collateral

Mhasibu SACCO differentiates itself from its peers by not relying on guarantors as the only acceptable collateral. The SACCO accepts the following as security for a loan.

Title deeds
Logbook
NSE Listed Shares
Life Insurance policy
Money Market Unit trusts
Mhasibu Fixed Deposit
Mhasibu Junior Deposits

Exclusive Partnerships for its Members

Mhasibu Sacco has enhanced its value proposition by having the following partnerships in place to enable its members to save that extra coin on purchases made. These partnerships include:

15% discount for all mattresses and items sold by Silent Night Bedding Limited countrywide.
5% Discount on all purchases made in Textbook Center stores countrywide.
Up to 10% discounts on vehicles sold by CFAO Motors, Maridady Motors, Taraji Motors, and Motorshop Dealers.
Exclusive discounts for devices sold at all Safaricom stores countrywide.
Exclusive discounts for tanks sold by Toptank Limited.

How to join Mhasibu SACCO

All professionals meeting the following eligibility criteria can join Mhasibu SACCO

Members of ICPAK and employees of practicing accountants.
A registered ICPAK member with a non-practicing certificate.
Fully qualified accountants who are not members of ICPAK.
Employees of institutions that offer accountancy training.
Members of ICSK and their employees.
Spouses and children of Mhasibu members.
Students pursuing finance and accountancy degrees and certifications.
Accountants in training with recognized examination bodies like KASNEB, ACCA

Eligible Groups under Extension of Common Bond

You are a professional in any field and have academic qualifications as proof.
Members of a specific professional body that is well recognized and regulated.
Holders of professional qualification evidence of which will be required.
Employees of a company whose directors are aligned to a professional body.
You are a registered KASNEB student.
You are a spouse or a child of a registered member.

Membership application is done online through https://members.mhasibusacco.com/site/login where you will be required to attach the following documents:

A copy of your national ID or passport.
A copy of your PIN certificate.
A passport-size photo.
Copy of nominee identification document
Proof that you are a professional
A membership fee of KES. 1,000.

For more information, you can write to info@mhasibusacco.com and can also visit the head office in Nairobi or any of the satellite offices in Mombasa and Kisumu.

That said, Mhasibu SACCO is a smart choice for all professionals globally who want to enjoy the benefits of saving and borrowing with a trusted and reputable financial partner. Get started with Mhasibu SACCO here today and secure your financial future while cultivating a savings culture for you and your loved ones.