KRB Sacco society was formed in 2003 by Kenya Roads Boards and given the name KRB SACCO SOCIETY LIMITED. It was registered under CS /10023. The directors were mainly drawn from Kenya Roads Boards and conserved the membership only in Kenya roads .As members retire after the mandatory age they continued saving and also introduced their spouses and children to the sacco membership.
Qualification for membership
A person who possesses the following qualifications shall be eligible for membership:
- Is within the field of membership consisting of current or former employees of Kenya Roads Board or a spouse of a member or child over eighteen years of a member or an employee of the society;
- Is over 18 years of age;
- Has not been convicted of a criminal offence involving fraud or dishonesty;
- Pays the entrance fees and share capital as prescribe these by-laws;
Provided that no member shall belong to more than one SACCO society having similar objects.
Admission into Membership
- An applicant shall be admitted into membership on application and payment of an entrance fee of KShs.1,000.00 and purchase at least one hundred and fifty (150) shares of KShs.20.00 (twenty) each, or such other minimum shares as shall be fixed by the General Meeting from time to time.
- Members shall be admitted by the Committee subject to confirmation by the next General Meeting.
- Upon admission, the member’s name shall be entered in the membership register and a membership number issued.