About Sacco Shares
What is a Share?
Shares refer to the ownership stake that members have in a SACCO. When you become a member of a sacco, you are required by law to purchase a certain number of shares, which entitle you to certain benefits and rights within the sacco.
Sacco shares represent a portion of the cooperative’s equity, and they are used to finance the sacco’s operations and growth. Members’ shares are also used to provide loans to members, and the interest paid on those loans helps to generate income for the sacco.
Sacco shares are typically non-withdrawable but are transferable, which means that they can be sold or transferred to other members within the sacco, especially at the time of termination of membership.
A share is the smallest unit of capital that a shareholder owns in a company. Buy shares, minimum of 50 shares each at 100/- to become a member. Minimum share contribution per month is Ksh. 200. Shares are part of security when applying for a loan. You earn dividends on shares bought, every year.
Shares are part of security when applying for a loan. After every payment made the system calculates how many new shares this will yield, and sends a message informing you of additional shares and total shares .
One can buy shares in bits, after registration and the system updates automatically on the progress. Upon completion of buying the minimum 50 shares ,one will receive a certificate of membership.
How to buy shares:
- Go to Mpesa menu
- Select Lipa na Mpesa
- Choose Buy Goods and Services option
- Enter Mpesa Till No: 646879
- Enter the amount
- Enter your pin and send.
Once you buy shares through Mpesa, you will get an SMS from RG Sacco confirming that your money has been received plus the total number of shares you have so far.
You can see how many shares you have subscribed so far by logging into your account. click here for Account Login.