How to Exit from East Akiba Sacco Smoothly: A Practical Guide

Leaving a Sacco isn’t as simple as walking into an office and asking for your money back. Because East Akiba Sacco is a member-owned institution with structured rules, exiting requires planning, patience, and proper documentation.
If done correctly, the process is straightforward. If rushed or misunderstood, it can lead to delays. Here’s a clear, step-by-step guide to help you navigate your exit the right way.

1. Make the Decision Strategically
Before initiating your exit, consider if you still need access to Sacco loans or if you are reacting to a temporary financial issue. Sacco membership has long-term benefits, so ensure this aligns with your future goals.
2. Write a Formal Withdrawal Letter
We require a written notice to begin the process. Your letter should include:
• Your full name and membership number.
• Your ID number.
• A clear request to withdraw membership.
• Your signature and date.
You can submit this letter physically at our office or via email to eastakibasacco@gmail.com.

3. Fill Out the Official Withdrawal Form
In addition to your letter, you must complete the official Sacco withdrawal form. This captures your payment instructions so we know exactly where to send your refund.
• Where to find it: You can download the form directly from our website at eastakiba.co.ke/downloads.
4. Clear All Outstanding Loans
You cannot exit the Sacco if you have an active loan balance. Before your withdrawal is approved, you must fully repay any outstanding loans and confirm with the office that your status is cleared.
5. Resolve Guarantorship Obligations
This is a common area where members experience delays. If you have guaranteed a loan for another member:
• You cannot exit until that loan is fully repaid OR
• You must arrange for a replacement guarantor to take your place.
6. The 60 Working Days-Notice Period
After submitting your request and meeting all conditions (clearing loans and guarantees), there is a mandatory waiting period of 60 working days. This time allows for internal clearances and the preparation of funds. Please plan your finances accordingly, as this is not an instant cash-out.
7. Know What You’ll Be Paid
When exiting, not all your contributions are handled the same way:
• Refundable: Your Deposits (monthly savings) will be refunded to you.
• Non-refundable: Your Share Capital (the permanent shares that make you a co-owner).
Note: While Share Capital isn't refundable, it is transferable. You can sell or transfer your shares to another member within the Sacco.

Quick Checklist for a Stress-Free Exit:
 Written withdrawal letter sent to eastakibasacco@gmail.com.
 Withdrawal form downloaded from eastakiba.co.ke/downloads and completed.
 All personal loans cleared.
 No active guarantorships (or replaced).
 Bank/Mobile payment details confirmed.
Financial plan in place for the 60 working days wait period.
Exiting a Sacco is just as important as joining one. By following these steps and respecting the notice period, you ensure that you walk away with your finances intact and your relationship with East Akiba Sacco on good terms.
East Akiba Sacco –Together we Succeed.