A person shall be eligible for membership if s/he possesses the following qualifications:
- Is an employee of Kenya Methodist University, or is an employee of another institution, or is a Society employee.
- Is a spouse or offspring (child) of a common bond member.
- Has attained the age of 18 years.
- Is of good character and sound mind.
Application for Membership
Every applicant for membership shall complete an “application for membership” form. This form shall be drawn to show all the information required for the purpose of registration of a member. (Click here to download the Application Form)
An applicant shall be admitted to membership upon payment of an entrance fee of Ksh. 500 and a minimum monthly deposit of Ksh. 1,000 or as may be fixed by the General Meeting from time to time. Upon admission the member’s name shall be entered in the membership register and a membership number issued.
All applications shall be made to the Management Committee, which shall admit new members subject to confirmation by the next general meeting.
NB: The Management Committee may refuse admission to a person after assigning reasons for their decision. Such a person, if otherwise eligible for membership, shall have the right to appeal to the next General Meeting.
Rights of Members
As a member of the SACCO you shall have the right to:
- Attend and participate in decision making at all general meetings of the SACCO and vote. Each member shall have one vote irrespective of their total shareholding as long as s/he is a member of good standing.
- Be elected to organs of the SACCO, subject to these by-laws.
- Enjoy the use of all the facilities and services of the SACCO subject to the Sacco society’s by-laws.
- Receive periodically, regularly or upon request, a statement of his/her account, all legitimate information relating to the SACCO, including, internal regulations, registers, minutes of general meetings and supervisory committees’ reports, annual accounts and inventories at the SACCO’s registered office.
Termination of Membership
Membership in the Sacco society shall cease with effect from the date of:
- Being certified insane.
- Transferring all shares to another member.
- Failure to remit regular savings and loan repayments for a continuous period of six months without valid reasons or leave of the Sacco society.
- Ceasing to hold qualification for membership as specified in the SACCO by-laws.
Apply to join KEMU SACCO today!
Download the Application Form (Click Here), fill it out in full and drop/send it to our office at:
Kenya Methodist University, Main Campus,
P. O. Box 267 – 60200,
Or you can fill out the online application form here.