SACCOs offer a unique solution by empowering communities to pool resources and support one another. This blog explores how SACCOs like Penta-O are making a difference in local development and financial stability.

To qualify for a loan, a member must have been actively registered with Penta-O SACCO for at least three consecutive months. During this period, the member should consistently deposit a minimum of Ksh 1,000 every month as part of their shares. The maximum loan amount a member can apply for is three times their total share contributions. Additionally, the loan must be supported by at least three guarantors who can guarantee the difference between the member’s shares and the loan amount requested. The SACCO also ensures that the total amount issued in loans does not exhaust its reserves—at least two-thirds of the total share capital must remain untouched to maintain financial stability. These requirements are in place to protect the SACCO's funds while ensuring that responsible and committed members can access credit when needed.