Metropolitan National Sacco has a couple of loan products. However, one has to first join and save with the Sacco.
The Sacco expanded its scope of membership to include people not originally from its base. It started as a Teacher’s only sacco but has now expanded to include; members from Government Ministries, Parastatals, Kenya Defence Forces (KDF), National Police Service, Public and Private Universities, Colleges, Academies and the private sector among others.
Therefore, the following can join the Sacco
- Salaried People
- Non Salaried People
- Business Entities
- Minors
- Commissions
The membership requirements are as follows: One needs a passport photo, a copy of your National Identification Card, pay Sh 1000 membership fee, produce a recent payslip for the employed.
One is also required to fill out a membership form which can be downloaded from the Sacco’s website or taken from the Sacco’s offices in town.
“The Sacco has seen a reversal in members who wished to withdraw their membership while the few who had submitted withdrawal notices are still offered full membership benefits including dividends,” said Sacco Chief Executive Benson Mwangi.
There are many savings products under Metropolitan Sacco, these include Fixed deposit accounts, Group Chama Accounts, FOSA Junior account (for children), Biashara Account and Dhahabu investment plan.
The loan products are two, Normal and Emergency loan. The two loans can be accessed by filling forms in the branch.
In line with its new strategy that encompasses IT into the transformation, the Sacco has a loan product that is dispensed from a member’s mobile phone.
Metropolitan is regulated by the Sacco Societies Regulatory Authority (Sasra), with which it discussed with, its growth strategy anchored on diversification, customer service excellence and developed products.
Apply for a loan
The loan products are two, Normal and Emergency loan. The two loans can be accessed by filling forms in the branch.
In line with its new strategy that encompasses IT into the transformation, the Sacco has a loan product that is dispensed from a member’s mobile phone.
Through M-Metro Cash, members of the Sacco can access up to Sh20,000 loan. However, they must have their salaries channelled through FOSA section and have been active members of the Sacco for the last three months
However, the M-Metro Cash service does not serve joint account or accounts which require more than one signatory.
The Mobile banking solution service works for 24 hours.
