Membership in Crescent Takaful SACCO
Open to Individuals, Groups, and Corporates.
Who Can Join?
- Individuals.
- Registered and unregistered groups.
- Corporate entities and associations.
Membership Classes & Costs
| Membership Class | Registration Fee (KES) | Minimum Shares | Share Value (KES) | Total Minimum (KES) |
|---|---|---|---|---|
| Associate (Individual) | 500 | 1 | 100 | 600 |
| Associate (Group) | 2,000 | 10 | 1,000 | 3,000 |
| Full Member (Individual) | 5,500 | 50 | 5,000 | 10,500 |
| Corporate Member | 11,000 | 100 | 10,000 | 21,000 |
| Investor Member | Above 550,000 | 5,000 | 11,000,000 | Above 550,000 |
- Share Details: Nominal value per share is KES 100. A 10% subscription fee applies per share. All shares rank equally.
Class A and C shares carry voting rights.
Class A shareholders are automatic delegates at the AGM.
Class C shareholders elect representative delegates.
Mandatory Accounts at Registration
Every new member receives three accounts:
- Share Capital Account (Investment Musharaka).
- Current Deposit Account (Qard-Al-Hassan).
- M-Akiba Investment Savings Account (Mudaraba).
Acknowledged Challenges & Forward Strategy
- Current Issues: Class C shareholders collectively own only 5% of CTS.
Institutional ownership and deposit mobilization remain low.
Members banking elsewhere while seeking financing from CTS creates an unsustainable balance and high cost of capital from external loans. - Way Forward: Enhancing public trust and institutional image: Aggressive marketing of savings and deposit products. Proactive liquidity management.Pursuing SASRA licensing.