Download Our membership application form

• Membership is open to the following:
  • Institutions/Companies/Organizations.
  • Individuals
  • Business Persons
  • Salaried persons.
  • Co-operative Societies.
  • Youth, Self-help, welfare and investment groups.

Other than KPA employees, the Sacco has opened its common band and now admits salaried persons, business people, individuals, retirees and groups.

• Fill in a membership application form that can be down loaded from our website or obtained from our offices or from delegates.
• Copy of the National ID card, latest pay slip, one coloured passport photo and copy of KRA PIN.
• Entry fee is Ksh.500
• Minimum monthly deposit of Ksh.1000.
• 600 for Sacco - link ATM (subject to review from time to time)
• Minimum share capital is Ksh.40,000 (by 2023)

• Attractive dividends on shares and interest on deposits
• Saving enables one to put aside reserves for his/her future and qualify for bigger loans.
• High savings need fewer/no guarantors to secure loans.
• Faster loan turn-around time
• No loan processing charges
• Affordable loan interest rates

• This is the money invested in the Sacco by the members. It is a long-term source of finance and it represents a unit of ownership. All Saccos are required by law to have minimum share capital. In Mombasa Port Sacco the minimum is Ksh.40,000. (by 2023)
• This fund is used to cushion against any loss that may be incurred by the Sacco in the future and therefore cannot be withdrawn but is transferable when membership ceases

• This is monthly savings made to the Sacco by the members and is non- withdrawable except in complete termination of membership or upon death.
• Deposits act as loan security.

•  A member becomes eligible after a membership period of six months and has met the minimum share capital requirement.

• Fully completed loan application form
• Sufficient number of guarantors/security (depends on loan type applied).
• Employee’s latest pay slip or 6 months bank statement (proof/ show of income)
• A copy National ID.

Other than the mobile based loans that are disbursed instantly, all the others are disbursed on demand.

While granting loans, the members’ Gross Salary is considered and the Sacco is expected to utilize a maximum of 2/3rd of the gross salary after the deduction of the statutory deductions such as PAYE,NSSF,NHIF,HELB etc thereby leaving the member with a take home pay of not less than 1/3rd.

• A loan can be rejected on the following grounds;
• Inconsistency in deposit contributions
• Inadequate guarantors
• The form is not duly completed
• Key documents like ID, certified pay slips, PIN, direct debit/standing order instructions etc have not been attached
• The member deposits are insufficient to support an additional loan
• Having arrears on other loan products
• Poor repayment history
• Presentation of forged documents amongst others

• Through the check off system – deduction by the employer
• Bank standing order
• Direct debit
• Cash payments through the FOSA or the Sacco’s bank account at the Cooperative bank
• MPESA Pay bill Number 854845

You can pay extra contributions/loan repayments using Mobile banking by dialling *346#/ MPESA pay bill number or bank deposit.

 You can boost your deposits at any time. However, you will have to wait for three months before using them as loan security.

One can only offset his deposits against his loan if he is withdrawing from the Sacco. He/she must then pay off the loan balance if any. Off sets are only permissible when a member has asked those, he/she guaranteed loans to seek for alternative guarantors.

• A nominee is the person nominated by a member to receive the proceeds of any payable funds upon the death of the member
• All members are required to provide details of nominee(s) upon registration as members.
• One can change and/or update his/her nominee information as when need be.

The Sacco has insured members’ deposits and loans. The insurance benefits are as below:

In the unfortunate death of a member the insurance covers the following:

• 50,000.00 is paid to the next of kin for burial expenses
• The deceased member’s outstanding loans are cleared if they were in performing status
• Two times the members deposits are paid to the nominee(s)

When a member has total and permanently disability

• All Outstanding loan(s) is/are cleared by the insurance if they were in performing status
• Deposits & other savings refunded on request

FOSA (Front Office Services Activity) is a SACCO product that offers basic banking services similar to those offered by commercial banks. However, FOSA is not a clearing agent with Central Bank of Kenya (CBK) and therefore clears cheques through other commercial banks

All SACCO members who are registered as per the Sacco by laws.

Some of the benefits include:

• Enjoy affordable banking services at your convenience.
• Efficiency in the disbursement of loans
• Obtain short-term credits facilities with favourable conditions.
• Savings accounts
• Salary processing
• Short- and long-term deposit accounts
• Members can access their funds 24/7 by use of the Mobile banking and the Sacco link ATM card

 FOSA savings can be withdrawn over the counter (this is a banking facility). BOSA savings are monthly Sacco remittance and can only be withdrawn upon retiring from Sacco membership. FOSA savings can be used to offset BOSA loans or boost BOSA savings. BOSA savings cannot be used to offset loans unless upon default. FOSA is an innovative product to enhance the members’ convenience.

• Security for future financial needs,
• High savings qualifies member for higher loan advancements,
• High savings result in high interest earnings.
• High savings strengthens the SACCO’s lending capacity,
• High savings guarantees a member a comfortable retirement.

 The Sacco offers the following modes of payments;

• MPESA via pay bill number 854845- the a/c number is your membership number
• By use of your Saccolink ATM card at COOPBANK outlets- Coop Kwa Jirani
• Making direct deposits at our FOSA banking hall.

All FOSA patrons will be given VISA branded ATM cards which allows for 24hrs banking at any Coop bank or any VISA branded ATM worldwide. Sacco link card can also be used for paying for goods and services at point of sale, settling hospital bills, hotel expenses, fuel etc.

The Sacco can buy your loans from any financial institution as long as you

• Provide a current loan statement and that
• You qualify for the loan requested.

Mombasa Port is a deposit taking Sacco and is regulated by Sacco Societies Regulatory Authority (SASRA).

While BOSA shares are used as security for BOSA loans, FOSA Share are used as secure for FOSA Loans.

A member can have more than one account as long as the accounts are serviced from different sources of income. For example, salary and business income.

The Sacco does not have a 24/7 customer service centre. However, you may reach us by phone during the official working hours.

You don’t necessarily have to visit the Sacco offices to access our services. You can down load all the forms including loan forms from our website, fill, scan and send via email. We also have a robust web portal from where you can get information related to your account.