Empowering Karatina University staff and members through affordable savings, investment opportunities, and economic wellness programs.
KARUSCO Sacco Society Ltd. was established in 2012 and registered on 16th April, 2012 with the sole objective of uplifting the members’ social economic wellbeing. Its membership was initially drawn from staff of Karatina University based in Nyeri County.
The Sacco is now open to all members and currently offers BOSA (Back Office Service Activity) services to meet the diverse financial needs of its members.
To facilitate the mobilization of savings and provision of cost-effective financial and non-financial products and services to our members and customers.
To be a SACCO that empowers members’ economic wellness.
Kibanya Building, 2nd Floor Room 20
(Opposite ABSA Bank Karatina)
P.O. BOX 1957-10101, Karatina
Tel: +254 797 313 762
Email: karusco@karu.ac.ke
Affordable loan options designed to meet your financial needs
| Type of Loan | Repayment Period | Maximum Amount | Interest Rate |
|---|---|---|---|
| Normal/Development Loan | 48 months | 3 times the applicant’s deposits, subject to any outstanding loan. | 1% per month on a reducing balance |
| School Fees | 12 months | 3 times the applicant’s deposits, subject to any outstanding loan. | 1% per month on a reducing balance |
| Emergency | 12 months | 3 times the applicant’s deposits, subject to any outstanding loan. | 1% per month on a reducing balance |
| Salary Advance | 1, 3, 6 months | 60% of net salary | 6%, 7%, and 8% respectively per month on flat-line bases |
To meet the Sacco objectives of economic wellness, the Sacco started Christmas Savings. This is a product where members save monthly and this money is given back to the members in December for their Christmas holiday.
The Sacco again took another step of planning to help members afford houses in the future at affordable prices. The Sacco started a housing scheme within the Sacco to grow into a housing cooperative in the future.
The Sacco created this product as an investment for the members. This is a product where members save monthly and the money saved earns interest daily subject to the period that the amount is fixed, the accumulated amount is given back to the members upon maturity period or member’s request.
Committed to transparency, accountability, and member welfare
Responsible for policy-making and strategic direction of the SACCO. Elected by members to represent their interests.
Comprising three elected members who supervise management actions and report findings during the Annual General Meeting.
Two dedicated staff members: an Accounts Clerk and an Assistant Accounts Clerk, ensuring smooth day-to-day operations.
Where members review performance, receive reports from the Supervisory Committee, and vote on key decisions.
Take the first step towards financial wellness and economic empowerment with Karatina University’s trusted savings cooperative.
