Notice to members

FEP Sacco Head office will soon be relocating from Cardinal Otunga Plaza to El Molo drive, off James Gichuru Rd, Lavington.

FEP Sacco Society Limited is a leading dynamic and innovative savings and Credit Cooperative Society duly registered with the Ministry of Cooperative Developments and Marketing under registration No C/S10033 on January 30, 2003.

To empower members economically by pooling of resources with the view of mobilizing and lending at competitive rates.

To be the preferred Sacco that foster and promote growth & development of our members for economic interests.

OUR OBJECTIVES

The objectives for which the society is established are:

  • To encourage thrift among its members by affording them with an opportunity to accumulate savings.
  • To create a source of funds for credit this shall be lent to qualified members at fair and reasonable rates of interest.
  • To provide an opportunity for members to improve their respective economic and social conditions.
  • To perform the functions and exercise the powers designated for savings and credit co-operative societies under the law.
  • To promote welfare and economic interest of members through viable investments and commercial undertakings in accordance to co-operative principles and prevailing laws.
  • For attainment of above objectives, to do all such other things as are incidental or conducive to the economic enhancement of members according to applicable law.
Marketing_Ch1_Pt3_Marketing_Objectives
  • Voluntary and open membership.
  • Democratic members control.
  • Economic participation of members.
  • Autonomy and independence.
  • Education, Training and Information.

Membership presence is in all forty-seven (47) counties across Kenya.

  • Operational institution for the last (13) years (2003-2016).
  • Audited reports for the last (8) years (2007-2015).
  • Turned a profit and declared dividends in the last (7) years (2009-2015).
  • External borrowing over the operation period.
  • Has had sustained growth in membership both in quantity and quality over the years.
  • Currently over 10,000 members.
  • Has mobilized over Kshs 300 Million in BOSA shares and deposits.
  • Has disbursed over Kshs 1 Billion in loans over the period of operation.
  • Asset base is valued at over Kshs 600 Million.

Requirements for Joining FEP Sacco

  • Be a member of Fountain Enterprise Programme (FEP)
  • Complete a FEP Sacco application form and pay a non-refundable membership fee of Kshs.1,000
  • Maturity period so as to acquire a loan is 3 months with a minimum contribution of Ksh 6,000.
  • Pledge to maintain membership by contributing a minimum of Kshs. 1,000 each month (we encourage members to save more and accumulate lump sums which will earn interest rate on return).
  • Submit a photocopy of your ID and two passport photos.
  • Submit a copy of ID for the next of kin(s) or birth certificate in case of minors.

Wordpress themes JazzSurf