Frequently Asked Questions


1How can one join Mombasa Port Sacco?
Membership is open to the following:

  • Institutions/Companies/Organizations.
  • Individuals.
  • Business Persons.
  • Salaried persons.
  • Co-operative Societies.
  • Youth, self-help, welfare and investment groups.

2What are the benefits of being a member of Mombasa Port Sacco?

  • Attractive dividends on shares and interest on deposits.
  • Saving enables one to put aside reserves for his/her future and qualify for bigger loans.
  • High savings need fewer/no guarantors to secure loans.
  • Faster loan turn-around time
  • No loan processing charges
  • Affordable loan interest rates

3How do I become a member of Mombasa Port Sacco?

  • Fill in a membership application form that can be down loaded from our website or obtained from our offices or from delegates.
  • Copy of the National ID card, latest pay slip, one coloured passport photo and copy of KRA PIN.
  • Entry fee is KSH. 500
  • Minimum monthly deposit of KSH. 1000.
  • KSH. 600 for Sacco - link ATM (subject to review from time to time)
  • Minimum share capital is KSH. 40,000 (by 2023)


1When does a member become eligible for a loan?
A member becomes eligible after a membership period of six months and has met the minimum share capital requirement.
2What should one have when applying for a loan?
  • Fully completed loan application form
  • Sufficient number of guarantors/security (depends on loan type applied).
  • Employee’s latest pay slip or 6 months bank statement (proof/ show of income)
  • A copy National ID.
  • 3How long will my loan take before disbursement?
    Other than the mobile based loans that are disbursed instantly, all the others are disbursed on demand.
    4How does the 2/3 Rule work?
    While granting loans, the members’ Gross Salary is considered and the Sacco is expected to utilize a maximum of 2/3rd of the gross salary after the deduction of the statutory deductions such as PAYE, NSSF, NHIF, HELB etc. thereby leaving the member with a take home pay of not less than 1/3rd.
    5What is the reason for rejecting my loan?
    A loan can be rejected on the following grounds;
  • Inconsistency in deposit contributions.
  • Inadequate guarantors.
  • The form is not duly completed.
  • Key documents like ID, certified pay slips, PIN, direct debit/standing order instructions etc. have not been attached.
  • The member deposits are insufficient to support an additional loan.
  • Having arrears on other loan products.
  • Poor repayment history.
  • Presentation of forged documents amongst others.
  • 6What are the available channels for loan repayment/deposit payments?
  • Through the check off system – deduction by the employer.
  • Bank standing order.
  • Direct debit.
  • Cash payments through the FOSA or the Sacco’s bank account at the Cooperative bank.
  • MPESA Pay bill Number 854845.

  • FOSA

    1What is FOSA?
    FOSA (Front Office Services Activity) is a SACCO product that offers basic banking services similar to those offered by commercial banks. However, FOSA is not a clearing agent with Central Bank of Kenya (CBK) and therefore clears cheques through other commercial banks.
    2Who qualifies to open a FOSA Account?
    All SACCO members who are registered as per the Sacco by laws.
    3What are the benefits of FOSA?
    Some of the benefits include:
    4What is the difference between FOSA and BOSA savings?
    FOSA savings can be withdrawn over the counter (this is a banking facility). BOSA savings are monthly Sacco remittance and can only be withdrawn upon retiring from Sacco membership. FOSA savings can be used to offset BOSA loans or boost BOSA savings. BOSA savings cannot be used to offset loans unless upon default. FOSA is an innovative product to enhance the members’ convenience.
    5What benefits do members stand to gain on their FOSA savings?
    6How can I make payments/deposits to the FOSA?
    The Sacco offers the following modes of payments;
    7What is the difference between FOSA shares and BOSA shares?
    While BOSA shares are used as security for BOSA loans, FOSA Share are used as secure for FOSA Loans.


    1How does the Sacco Insurance work?
    The Sacco has insured members’ deposits and loans. The insurance benefits are as below:

    In the unfortunate death of a member the insurance covers the following:
    When a member has total and permanently disability:
    2Is the SACCO regulated?
    Mombasa Port is a deposit taking SACCO and is regulated by SACCO Societies Regulatory Authority (SASRA).
    3Does the SACCO have a 24hr response line?
    The Sacco does not have a 24/7 customer service center. However, you may reach us by phone during the official working hours.