Frequently Asked Questions (FAQS)


What is minimum contribution? The minimum contribution is Ksh 1,650 per month. What is the difference between deposits and shares? Deposits are the monthly contributions a member pay towards the Sacco. This can be used as either security to members loans or guarantee six other members. Interest is earned on

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Am I entitled to dividend? Yes, the Sacco pays dividend (Interest on deposit and dividend on share capital) every year to all the members who had balances in deposits or share capital for the financial year ended. Deposit earns interest on deposit on pro rata basis which means you don’t

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Do I need a guarantor if my loan application is equivalent to my deposits? No, you do not need a guarantor if the loan applied does not exceed your deposits. How many guarantors do I need? The Sacco has no minimum or maximum guarantors. It all depends on the loan

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What is the procedure of withdrawing from the Sacco? You need to apply for withdrawal from the Sacco in a formal signed letter giving the Sacco sixty days notice in line with Sacco by laws. The letter should be accompanied by your ID copy. Can I partially withdraw my deposits?

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Sacco Constituencies
How well do you understand the Sacco constituencies? We look at
the profiling of membership as per the constituencies.

1. Audit and Accounting consultancy firms.
• Employees of Advisory tax, Accounting, auditing and consultancy firms.
• Employees of accounting regulatory bodies i.e. ICPAK.

2. Accountants in Training Colleges & KASNEB students
• Employees of institutions accredited by KASNEB, ACCA and National Examination Council.
• KASNEB and ACCA students.
• Students pursuing bachelor’s degree in accounting or finance option.

3. Industry and Commerce, Company Secretaries
• Accountants in private sector.
• Registered members of ICPSK.
• Accountants in self employment.

4. Public Sector, NGOs, other consultants, Diaspora & others.
• Accountants working with NGOS.
• Accountants in Diaspora.
• Accountants working in Public Sector


Who is legible to join the Sacco? Members of ICPAK and their employees Fully qualified accountants who are not members of ICPAK. Accountancy training institutions and accountants in training. Registered KASNEB students. Spouses and Children to registered members How do I become a member? You need to complete the membership

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How can I make my payments to the Sacco? The Sacco offers the following modes of payments; M-Pesa – Click to See procedure. Standing orders – please indicate your membership number on instruction form Deposit slips- make payments to our bank accounts then present the banking slips Cheque payment done at

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When do I qualify to take a loan? You qualify to take a loan after six months of consistent contribution of the monthly minimum requirement of KES 1,600 per month What is the maximum loan I my entitled to? You are entitled to a maximum loan equivalent to four times

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Is Mhasibu Housing Company Limited (MHCL) and Mhasibu Sacco the same thing? No, MHCL is fully owned subsidiary of Mhasibu Sacco which operates independently from the Sacco. MHCL is involved in mobilizing Sacco members and other stakeholders who are interested in acquiring prime plots among other things. On the hand

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