20 Best SACCOs to Join in Kenya
As of 2024, the following is a compilation of the most promising SACCOs in Kenya for membership. The primary objective of saccos in Kenya is to unite individuals with comparable financial origins and characteristics in order to facilitate savings and investment.
In Kenya, there are numerous Saccos that provide such opportunities. Nevertheless, not all have effectively protected the interests of their members.
Here is a comprehensive list of the most effective SACCOs in Kenya that you may participate in.
List of Kenya’s 20 Best SACCOs to Join in Kenya
1. Stima Sacco
Stima Sacco is a top-tier, licensed deposit-taking Sacco that is rapidly expanding throughout the country, with an asset basis of approximately Kshs. 53.78 billion. It provides a variety of credit and savings products, including mortgages, biashara loans, asset financing, and development loans. The Sacco is open to all members. It maintains branches in Nairobi, Kisumu, Eldoret, Nakuru, Embu, and Mombasa.
2. Mwalimu National Sacco
Mwalimu National Sacco is the largest African Sacco, with a membership comprised of Kenyan instructors. It provides a wide range of products and services, including business financing, welfare services, Back Office Services Activities (BOSA), and FOSA products. Teachers, Sacco employees, and Teachers Service Commission employees are eligible for membership. The Sacco maintains an asset basis of 64.06 billion.
3. Nyati Sacco
Nyati Sacco provides its members with a comprehensive selection of financial services, such as investments, loans, and deposits. With a dividend payout rate of 21% on its share capital, it is the highest-paying Sacco in Kenya.
4. Amica Sacco
Amica is one of the most advantageous SACCOs to participate in Kenya. It is a Tier One Sacco that was established in 1966 by coffee producers in Muranga. Subsequently, it expanded its bond to accommodate all sectors. In 2016, the Sacco underwent a rebranding process and is presently known as Amica Savings & Credit, or simply Amica Sacco. It maintains an asset basis of $6.45 billion.
Amica Sacco’s banking channels consist of Mobile Banking, Sacco Agency, Visa Card, chequebooks, pay invoices, and money transfer services such as Pesalink and RTFT. The Sacco is distributed across Nairobi, Kiambu, and Muranga Counties, with over 360 agents and 18 branches.
Loans are granted to members at a rate that is ten times their savings, a practice that is commonly referred to as “Investa.” Loans are repayable for a maximum of five years, and the interest rate is as low as 1% per month on the reduced balance.
Contact number: 0729 333 444
For additional information regarding their services, please visit www.amicacs.co.ke.
5. Afya Sacco
With an asset base of 20.94 billion, Afya Sacco is one of the largest deposit-taking Saccos in Kenya. It is a financial institution that is democratic, member-driven, and self-help, owned and governed by members who share a common bond.
6. Ports Sacco
Ports Sacco is a tier 1 licensed deposit-taking Sacco with a diverse membership that includes salaried and non-salaried individuals, investment groups, corporates, sole enterprises, and individuals in the diaspora. With a dividend payout rate of 20% on share capital, it is one of the highest dividend-paying Saccos in Kenya.
7. Trans Nation Sacco
Kenya’s Trans Nation Sacco is among the most productive and generous dividend-paying Saccos. It is a deposit-taking Sacco that is SASRA compliant and has a membership of over 37,000 in BOSA and over 75,000 accounts in FOSA. The Sacco’s headquarters are situated in Chuka Town, with additional subsidiaries situated throughout the nation.
8. Harambee Sacco Society
The National government, County government, government parastatals, constitutional bodies, Kenya Defence Forces, National police service, National youth service, and government departments are the primary sources of membership for Harambee Sacco. It is also accessible to individuals from the private sector. At present, it maintains an asset basis of 37.01 billion.
9. Magadi Sacco
In 1977, Magadi Sacco was established as an SASRA-compliant Sacco. Membership in the Sacco is accessible to all. It provides a diverse selection of BOSA and FOSA products. It is also one of the highest dividend-paying Saccos in Kenya, with a dividend payout rate of 20% on share capital.
10. Hazina Sacco
Hazina Sacco is a nationwide deposit-taking Sacco with an asset basis of Kshs 12.76 billion. It provides a dividend on share capital and a high interest rate on deposits. Employees of private organizations, parastatals, and national and county governments are eligible for membership.
11. Sheria Sacco
Sheria Sacco was officially registered in 1972 and has since amassed a membership of over 10,000 individuals, including those from the judiciary, AG chambers, various government ministries, businesspeople, and individuals over the age of 18 who possess an income. With a dividend payout rate of 16%, it is one of the highest-paying Saccos in Kenya.
12. Kenya Police Sacco
In 1973, the Kenya Police Sacco was established with the objective of mobilizing savings and offering affordable credit facilities.
The Sacco maintains a loan portfolio of Kshs. 26 billion and an asset basis of 48.98 billion. Its membership is comprised of the business community, employees of corporate entities, the Kenya police service and Sacco, employees of the civil service, and serving and retired police officers.
13. Unaitas Sacco
Unaitas Sacco is a deposit-taking Sacco that was licensed under the Sacco Societies Act, 2012 and has an asset base of 20.40 billion. It provides a variety of loan products and savings products, including development loans, biashara loans, inuka loans, project loans, kilimo poa advance, business fast fixes, and maono advance loans.
14. Imarisha Sacco
Imarisha Sacco is a prominent Sacco in Kenya, with an asset basis of 19.82 billion. The Sacco is proud of its branch network of 14 units, which is dispersed throughout the country, its continuous innovations, effective technology, and exceptional customer service.
15. Tower Sacco
Tower Sacco, with an asset base of 19.57 billion and a membership of over 250,000, is one of the most successful and largest Saccos in Kenya. It provides a diverse selection of financial products and services, such as savings accounts, investment products, and loans.
16. Ukulima Sacco
With an asset base of 14.66 billion, Ukulima Sacco is one of the largest and most reputable deposit-taking Saccos in Kenya. The Sacco provides a comprehensive selection of impactful lending options, savings, and investment products at its branches throughout the country.
17. IG Sacco (Invest & Grow Sacco)
With an asset base of 12.96 billion, IG Sacco is one of the largest deposit-taking Saccos in Kenya. It is one of the most well-managed and highest deposit-accepting Saccos in Kenya. It distributes dividends at a rate of 17% on its share capital.
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18. Ollin Sacco
Kerugoya Town serves as the headquarters for Ollin Sacco. It is a licensed deposit-taking Sacco that provides affordable financial services that empower members in both social and economic ways. It is distinguished as one of the highest dividend-paying Saccos in Kenya, with a dividend payout rate of 17.5%.
19. Bandari Sacco
Bandari Sacco is a licensed deposit-taking Sacco with a membership of over 18,000 and an asset base of 12.01 billion. It endeavors to enhance the financial stability and overall well-being of its members by promoting prudence and offering credit services at competitive interest rates.
20. Mafanikio Sacco
Mafanikio Sacco is a deposit-taking Sacco that is SASRA compliant. It offers financial empowerment to its members by promoting the mobilization of high-quality savings, strong capitalization, prompt credit availability, and sustained member awareness. One of the highest dividend-paying Saccos in Kenya, the Sacco has a dividend payout rate of 18%.
