Based on abit of knowledge on Cooperatives and how they run,there is no major cause of alarm unless the borrowers chew the money instead of using it for the intended purpose.

Stima Sacco is a big Sacco and therefore had excess funds which they lent to the other Saccos mentioned up there. Saccos mostly borrow to onlend to their members on short term basis.Mostly 12 months.Unless rhe Borrowing Saccos and their mother companies close shop which is unlikely,that is when people should worry.

The only mistake I see is the officials acting beyond their powers.

What are the requirements and procedures for joining? Is one required to be seconded by an existing member?

Stima SACCO Membership

Membership Eligibility
Stima Sacco' Membership is open to all Kenyan Nationals anywhere in the World


INDIVIDUAL MEMBERSHIP
To join the Sacco one needs to;
1). Complete Membership Application Form
2). Attach copy of Kenyan National Identity Card or Valid Kenyan Passport
3). Attach coloured passport size photograph.

JOINT MEMBERSHIP
To join the Sacco one needs to;
1). Complete Membership Application Form.
2). Attach copy of Kenyan National Identity Card or Valid Kenyan Passport for both applicants.
3). Attach coloured passport size photograph for both applicants.

GROUP MEMBERSHIP
To join the Sacco one needs to;
1). Complete group membership application form.
2). Attach minutes of the group's meeting resolving to join Stima Sacco.
3). Attach the group's constitution.
4). Attach copies of Identification Cards, Passport and photos of authorised signatories.
5). Attach copy of group's registration certificate.

CORPORATE MEMBERSHIP
To join the Sacco one needs to;
1). Complete corporate membership application form.
2). Attach minutes of the Board of Directors meeting resolving to join Stima Sacco.
3). Attach copy of articles and memorandum of association
4). Attach copies of Identification Cards, Passport and photos of three authorised signatories.
5). Attach copy of registration certificate.