Oasic Sacco/ Frequently Asked Questions
Who can join OASICS SACCO?
Oasics Sacco is free and open to salaried employees, business owners, and community members.
How do I become a member?
Fill in the membership form, attach your ID, and pay the required fees.
What savings products do you offer?
We offer savings, loans, and investments.
Are my savings safe?
Yes, all savings are secure and managed transparently. FOSA loans are regulated and monitored by Sacco Societies Regulatory Authority (SASRA) which operates in the same way as the Central Bank of Kenya (CBK) with the commercial banks. the SACCO submits monthly reports and is audited regularly to ensure compliance and safety of member deposits. The Board of Management are managing the Sacco as per the Co-operative societies ACT, Rules and Sacco bylaws. the Sacco has implemented the use of Corporate Governance and Code of Ethics hence stability is guaranteed. the Sacco also holds AGM’S yearly where reports and accounts are presented to the members.
What types of loans are available?
We provide normal loans, emergency loans, asset financing loans, and agricultural loans.
What is a must have when applying for a loan?
Fully completed loan application, sufficient number of guarantors(depending on loan type), employee payslips (past 3 months), a copy of National ID, proof of active membership for at least three months
Can I withdraw my savings anytime?
Withdrawals depend on the type of savings product.
Do I need guarantors for a loan?
Yes, most loans require guarantors as security.
Where can I get forms and documents?
Forms are available at our office and in the Downloads section of our website.
Do you offer CRB clearance services?
Yes, members can access CRB clearance services through OASICS SACCO.
Can I check my CRB status at the SACCO?
Yes, we help members check their CRB credit status quickly and easily.
Do you assist with CRB listing issues?
Yes, we guide members on resolving CRB listing and clearance matters.
Is there a fee for CRB services?
Yes, a small service fee applies depending on the CRB request.
Why is CRB important for members?
It helps members maintain good credit history and access loans easily.