MWALIMU NATIONAL SACCO SOCIETY MEMBERSHIP (COMMON BOND)
There shall be 2 classes of membership to the Society, with each class exercising different rights as stipulated in By-law 10.
6.1 CLASS A MEMBERS
Membership shall consist of:
(a) Employees of Teachers Service Commission in Post Primary, TVETA Institutions, TSC Secretariat and Mwalimu SACCO Society staff and employees of any subsidiary of Mwalimu National Sacco Ltd.
(b) Employees of Teachers Service Commission in Primary schools with academic qualifications at the level of Diploma and above.
(c) Employees of Teachers Service Commission in Primary School with academic qualification below diploma level may be admitted into membership by the Board on their own merit.
(d) Members currently working in government ministries/departments or other institutions already having check-off facilities with the Society.
(e) Spouses of members and members’ children above 18 years of age in employment.
(f) Lecturers in public and private universities.
(g) Teachers with academic qualifications at the level of Diploma and above, employed in education-related institutions and teachers registered by TSC and employed by schools’ Boards of Management (BOM), with academic qualifications of the level of Diploma and above.
(h) Students previously sponsored by the Society under the Childhope Foundation who are over 18 years and in formal employment.
(i) Former employees of TSC and Government related Primary, Post-Primary and TVETA education institutions who are in formal employment in private or public sector or in private business.
6.2 CLASS B MEMBERS
Membership shall consist of:
(a) Students undertaking education-related studies leading to diplomas and degrees, in technical colleges and universities recognized by the Ministry in charge of Education.
(b) Members who have withdrawn their deposits and have not yet transferred shares to another member.
(c) Members by share capital Members who have left the common bond will continue with membership.
QUALIFICATION FOR MEMBERSHIP
A person shall be eligible for membership into the Society if he possesses the following qualifications:
(i) Is not less than 18 years of age.
(ii) Is a Kenyan citizen or an ordinary resident of Kenya.
(iii) Is of sound mind.
(iv) Has not been convicted of any criminal offence or if has been convicted, has not been sentenced to a jail term of more than 6 months.
(v) Is of good standing and character.
No person shall be eligible for membership if he is a member of another Co-operative having the same or similar objectives as those contained in these By-laws.
