BARINGO TEACHERS SACCO SOCIETY LIMITED

Let us see If we can Demystify them

Baringo Teachers Savings and Credit Co-operative Society Limited was registered on 31st August, 1976. Members are mainly Teachers from Baringo, Koibatek, East Pokot and North Baringo Districts in both Secondary and Primary Schools. Active Members are 9,500 monthly are Teachers and Government Officers.

Eldama Ravine Offices

Is it meant for teachers only?

With the introduction of Front Office Services Activity (FOSA). User Members include all willing Members of the community who number 9200. There are over 22,400 Account Holders in all FOSA Sections. , The objectives for which the Society was established is to encourage Savings among Members and to create a source of funds that Members can borrow loans at a reasonable rate of interest. Thus improving their standards of living by building their Economic Status. The Society has Shares/Deposits and savings in both COSA and FOSA in excess of a Billion Kenya Shillings.

Mogotio Office

What is the rationale behind FOSA

This is the Financial Section of the Society that was started out of necessity in October, 1999. 

It was when Multi National Banks left Rural Areas for Big Town, raised their Minimum Balances between Kshs.6000/= and Kshs.10,000/= locking out small people, and they swallowed any little amount that came through their Accounts.

members receiving assistance 

Members called upon the SACCO to come to their rescue. Special Delegates Meeting held in August, 1999 resolved on setting up the FOSA Sections for Members to channel their Salaries through the FOSA's.

The Board/Management responded with speed and saved Teachers and other Officers in Government Departments from Financial Embarrassments. FOSA E/Ravine and FOSA Kabarnet were started simultaneously with lots of difficulties. Thanks to Members who purchased Equity Shares.

However, in spite of all Shortcomings and Challenges, the FOSA Sections have emerged to pose a great challenge to Established Banks and other Financial Institutions.

The competition is Stiff and Challenging but the SACCO is determined to bring Financial Stability in the Region for the benefit of both Members and the Community.

What are their products?

(a) Savings 

• Share capital and Equity shares 

• Savings/Deposits 

(b) Loan products 

• Normal/Development loan 

• School fees loan 

• Emergency loan 

• Refinance/Top up loans 

• SACCO Quick loan 

• New Members’ Introductory Loan 

(c) Risk Management: Members’ welfare fund 

(d) Other Services: Conference Hall Facilities and Hiring of plastic seats, Public Address system (PA), Tents and Offices to let.

Pamoja Twajimudu,United We prosper

the beauty of Kabarnet