Wednesday, June 7, 2023

2NK SACCO: History, Membership, and Benefits

By Benson Bundi

The name ‘2Nk’ isn’t just a popular acronym amongst matatu drivers but a representation of hope for many members. As one of the largest matatu SACCOs in Kenya, 2NK SACCO Society Ltd has been creating waves throughout the country.

Thousands of matatu operators have become members of the organization, and their lives are truly being transformed as they generate more income to save with 2Nk and access fair financial loans.

It is incredibly inspiring to see people in our communities gaining access to resources that help improve their lives and make a difference for their future—all thanks to the 2NK Sacco platform. This blog post will discuss how 2NK Sacco is transforming lives and what makes it successful.

What is 2NK Sacco

For those in the dark, 2NK SACCO is a transport-based SACCO that has become renowned for its reliable and efficient service. Headquartered in Nyeri Town, 2NK SACCO operates fourteen-capacity vans, executive shuttles, and parcel delivery services.

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2NK SACCO offers transport between popular locations such as Nyeri, Karatina, Kerugoya, Nakuru, Eldoret, Thika, Nanyuki, Kitale, Kisii, and Bungoma.

The SACCO was started in 1994 by matatu owners from Nyeri and Karatina. Despite the chequered reputation the Matatu industry was known for at the time, this group of devoted individuals set on bringing order to the chaos and going on to form 2NK SACCO.

2NK Sacco is Committed to Helping Members

The Kenyan law demands that all matatus be operated under SACCOs or a limited company. Some of the largest matatu SACCOs in Kenya include:

  • Mombasa Sacco ltd
  • 2NK Sacco
  • Embassava Sacco

There are currently over 80,000 matatus under SACCOs. The matatu industry employs thousands of drivers, conductors, stage managers, and office staff.

In 2019, the matatu sector had a turnover of 400 billion shillings per annum. This demonstrates the enormity of the industry and how it is an essential engine for the growth of our country’s GDP.

2NK SACCO has two types of memberships:

Class A: Here, you will be required to have a new matatu, specifically the Toyota Hiace model. The vehicle has to have the latest registration, but delays in registration can be forgiven. Once you have this, they make a formal application to the SACCO. If you meet all the requirements, you will be required to pay the entrance fee and are then considered a Class A member. As a class A member, you cannot own up to 7 vehicles per the by-law provisions.

Class B: People who do not own matatus can join for savings and access to loans. The basic requirements are the Kenyan ID and KES 500 to open an account. After that, you must save for a minimum of six months to access the loan service. Members come from every part of the country, but most are from Nyeri, a large part of Central Kenya, and the Mt.Kenya Region.

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The main objective of 2NK SACCO is to improve the lives of its members, and they strive to provide efficient services that enable their members to grow financially.

Benefits of the 2NK Sacco Platform

The main benefits of joining the 2NK Sacco platform include:

  • Access to Loans: Members can access credit through the SACCO platform, enabling them to cover immediate expenses and pursue further business investments.
  • Improve members’ livelihoods: Through the SACCO platform, members can access resources and loans to improve their living standards.
  • Increased savings: Members can save with the SACCO, allowing them to invest in their future and get a return on their investment.
  • Low transaction costs: The SACCO platform allows members to access credit and other services without incurring high transaction costs.
  • Security: The 2NK SACCO platform is secure and reliable, meaning members can trust it when they need access to credit and other services.
  • Professionalism: The platform is managed professionally, ensuring that all transactions and interactions are conducted professionally.

2NK Sacco is a trusted platform that is transforming the lives of many Kenyans by providing loans, savings, and other services to its members. Members can access resources and loans that will improve their living standards and secure their futures by joining the platform. The 2NK Sacco platform is affordable, secure, and reliable and has a proven track record of transforming the lives of its members.

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