Airports Sacco is a good Sacco to join especially if you want to save money, get a loan and earn dividends. Below we provide important details about the Sacco:
Application for membership
Every applicant for membership shall fill and complete the “Membership Application Form”. This form shall be drawn to show all the information required for the purpose of registration of members.
Download the form from the Sacco’s website.
Admission into Membership
- An applicant shall be admitted to membership on the application upon payment of an entrance fee of Kshs 1,000 and a minimum of 250 shares of Kshs. 20 each or an amount as shall 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.
- Members shall be admitted by the management board subject to Confirmation by the next general meeting.
- The member shall pay for a copy of the society’s by-laws at its actual cost to the society.
Rights of Members
A member of the society shall have the right to:
- Attend and participate in decision making at all general meetings of the society and vote;
- Be elected to organs of the society, subject to these by-laws;
- Enjoy the use of all the facilities and services of the society subject to the society’s by-laws;
- All legitimate information relating to the society, including, internal regulations, registers, Minutes of general meetings and supervisory committees reports, annual accounts, inventories and investigation reports, at the society’s registered office.
Withdrawal from Society
A member may at anytime withdraw from the society by giving at least sixty (60) days written notice to the board of directors.
Airports Sacco Limited,
Kenya Airports Authority HQS,
KAA Fire Training School,
Nairobi, Kenya.
+254 (020) 790 3119
+254 (0) 717 243 119
+254 (0) 715 843 888
info@airportssacco.co.ke
More Contacts
FOSA contacts
Office: JKIA Cargo Terminal
Phone: +254 715843888
Email: fosa@airportssacco.co.ke
BOSA contacts
Mobile: 020 790 3119
Email: bosa@airportssacco.co.ke
- Minimum operating balance is 500
- No monthly charges
- Has ATM card and Mobile banking services
- Account holder can borrow FOSA loan of upto 500,000 repayable within 36 months
- Minimum operating balance is 500
- No monthly charges
- Account holder can borrow advance for upto 6 months depending on the account transactions
- Account holder can make monthly contributions through check–off system
- Minimum operating balance is 1000
- No monthly charges
- Has ATM card and Mobile banking services
- Applicable to registered and non-registered groups
- Minimum operating balance is ksh.5000
- No monthly charges
Requirements:
- Group minutes stating the reasons for opening the account signed by the signatories
- Group signatories
- Certificate of registration
- List of group members, ID numbers and signatures
- Minimum operating balance is Ksh. 5000
- No monthly charges
Requirements:
- A letter on company letter head and signed by company director stating the reason for opening the account with Airports Sacco.
- List of company Directors
- Company signatories
- KRA Pin certificate
- Certificate of incorporation
This is a withdrawal deposit account where depositors can place value through prudent management. Deposits are for a specific number of months usually between 3 months to 12 months.
Features:
- Minimum of Ksh 50,000
- Interest computed monthly and credited at maturity of the contract
- Accrued interest forfeited if a depositor withdraws the funds before maturity date
- The depositor is issued with a certificate of deposit upon depositing the money
- No monthly charges
- Minimum operating balances Ksh. 1000
- Has ATM card and Mobile banking services
- No Queuing for services
- No monthly charges
- Minimum operating balances Ksh. 5000
- Has ATM card and Mobile banking services
- Free monthly statements
- Loan issued to new Sacco members only
- Maximum amount one can apply is 200,000.00 where ksh. 30,000 of the amount applied will be transferred to share capital and deposits upon posting of the loan
- Interest for loan is 1% per month on reducing balance
- Maximum repayment period 24 months
Salary Advances & Other Loan Products
- One month advance – interest 5%
- Three month advance – 5% per month on reducing balance
- Six month advance 6% per month on reducing balance
- One year loan. 1.208% per month on straight line method
- Okoa 2 years loan 1.208% per month on straight line method
- FOSA Mega loan 1.5% per month on reducing balance
- Mobile banking loan – applied through phone – interest 10% paid upfront
- Safaricom loan products – 3% per month on reducing balance
- Payble within 48 months
- Interest 1% per month on reducing balance
- Payble within 12 months
- Interest 1% per month on reducing balance
- Payble within 12 months
- Interest 1% per month on reducing balance
- Payble within 72 months
- Interest 1.25% per month on reducing balance
- Payable within 60 months
- Interest 1.1% per month on reducing balance
- For members who would like to access their dividend before the years AGM
- Interest 2% per month on reducing balance
- Allows members to take a loan of up to 7 years
- Interest 14% per annum amortized
- Savings from January to December
- A member can amend this savings within the course of the year
- A member can request withdrawal of whole / partial of the savings
- Interest on savings is given back to members in November/ December on a prorate basis
- Go to m-pesa menu and select Lipa na m-pesa-paybill option.
- Enter Airports Sacco business number 182239 and click ok
- Under account no, enter your FOSA account no e.g 1-01-37****-01 or 1-01-37****-06 depending on account type.
- Enter amount you wish to deposit
- Enter your m-pesa pin and click OK
- Confirm your details and press OK
- You will receive a confirmation message.
Paybill Number:182239
- Error code 106 – PIN tries exceeded-card blocked
- Error code 116 – Insufficient Funds
- Error code 118 – Card not activated
- Error code 911/912 – System delay/Network error
- Error code 114 Account dormant
