Savings and Credit Cooperative Societies (SACCOs) play a crucial role in Kenya’s financial landscape.
They offer a safe place to save money and provide affordable loans. Many people join a Sacco to:
- Adopt a saving culture
- Access affordable credit
- Earn dividends from their investments
Regardless of your reason, joining the best Sacco is paramount to avoid losing your money.
Here’s a detailed look at the top 30 SACCOs in Kenya for 2024, including key financial figures and benefits of joining.
Benefits of joining a SACCO
Joining a SACCO in Kenya offers numerous advantages:
- Affordable loans: SACCOs provide loans at lower interest rates compared to traditional banks.
- Dividends: Members earn dividends on their savings and shares.
- Financial education: Many SACCOs offer training and financial literacy programs.
- Community support: SACCOs foster a sense of community and mutual support among members.
How to join a SACCO
1) Identify a SACCO: Choose a SACCO that suits your needs and sector.
2) Membership requirements: Fulfill the membership requirements, which typically include filling out an application form and paying a membership fee.
3) Savings contribution: Start contributing to your savings account as per the SACCO’s guidelines.
Best Saccos in Kenya
The bulleted figures are from SASRA 2022 report.
1) Mwalimu National SACCO
Mwalimu National SACCO is dedicated to providing financial services to teachers across Kenya.
Established to serve educators, it has grown to become one of the largest SACCOs in the country. Mwalimu National offers a variety of products including savings accounts, loans, and investment opportunities tailored to meet the needs of its members.
Over the years, Mwalimu National SACCO has built a reputation for its reliability and excellent customer service.
Members can access personal loans, emergency loans, school fees loans, and development loans at competitive interest rates.
The SACCO also offers investment opportunities in real estate and other sectors, providing members with a chance to grow their wealth.
Mwalimu National is known for its commitment to financial education, offering workshops and training sessions to help members manage their finances effectively.
This focus on education ensures that members are well-equipped to make informed financial decisions.
- Total Assets: Kshs. 64.06 billion
- Total Deposits: Kshs. 47.29 billion
- Gross Loans: Kshs. 43.84 billion
- Total Income: Kshs. 7.74 billion
Joining Mwalimu National SACCO means becoming part of a supportive community dedicated to the financial well-being of teachers. The SACCO’s wide range of services and commitment to member education make it an excellent choice for educators looking to secure their financial future.
2) Stima SACCO
Stima SACCO was established to serve employees of the Kenya Power and Lighting Company and has since expanded to include members from other sectors.
It is renowned for its competitive loan products and attractive dividend rates, making it a popular choice among its members.
Stima SACCO offers a variety of financial services including savings accounts, fixed deposits, and different types of loans such as personal loans, development loans, and emergency loans.
Members benefit from lower interest rates and favorable loan terms compared to traditional banks.
One of the unique features of Stima SACCO is its focus on energy-saving projects. The SACCO provides loans for purchasing energy-efficient appliances and solar power systems, promoting sustainable energy use among its members.
- Total Assets: Kshs. 53.78 billion
- Total Deposits: Kshs. 39.43 billion
- Gross Loans: Kshs. 45.07 billion
- Total Income: Kshs. 7.40 billion
Stima SACCO also offers training programs to help members manage their finances and invest wisely. By joining Stima SACCO, you become part of a community that values sustainability and financial growth.
3) Kenya national police SACCO
The Kenya National Police DT SACCO is a savings and credit cooperative organization for police officers in Kenya. Some key facts about the SACCO:
- It is officially called the Kenya National Police DT SACCO and aims to promote financial prosperity for its members.
- The SACCO has around 51-200 employees according to its LinkedIn page.
- It offers a mobile banking platform called M-Tawi that allows members to access their accounts and transact via USSD or a mobile app.
- The SACCO is active in corporate social responsibility and has provided support through its CSR program.
However, in the past around 16,000 police officers lost their savings that were invested in the SACCO when it took on debt to acquire a building.
Kenya National Police SACCO serves the financial needs of Kenya’s police officers and their families. Established to provide affordable financial services, it has grown significantly and now offers a wide range of products designed to meet the unique needs of its members.
The SACCO offers various loan products including personal loans, development loans, emergency loans, and school fees loans. These loans come with competitive interest rates and flexible repayment terms, making them accessible and affordable for members.
Kenya National Police SACCO also provides savings accounts and fixed deposit options, helping members to save and earn interest on their deposits.
- Total Assets: Kshs. 48.98 billion
- Total Deposits: Kshs. 28.89 billion
- Gross Loans: Kshs. 41.58 billion
- Total Income: Kshs. 7.94 billion
The SACCO’s commitment to member welfare is evident in its customer service and the personalized financial advice it offers.
4) Harambee SACCO
Harambee SACCO was initially established to serve government employees but has since expanded to include members from various sectors.
It offers a wide range of financial services including savings, loans, and investment opportunities.
Harambee SACCO provides members with personal loans, development loans, and emergency loans at competitive interest rates.
It also offers savings accounts and fixed deposit options, allowing members to save and earn interest on their deposits.
Becoming a member of Harambee SACCO requires a registration fee of Kshs 5,000 and a minimum share capital investment of Kshs 10,000.
The SACCO has over 80,000 members across 174 branches in Kenya, highlighting its extensive reach and impact (source).
- Total Assets: Kshs. 37.01 billion
- Total Deposits: Kshs. 23.70 billion
- Gross Loans: Kshs. 27.67 billion
- Total Income: Kshs. 4.79 billion
Joining Harambee SACCO means becoming part of a supportive community dedicated to financial growth and stability. The SACCO’s wide range of services and commitment to member education make it an excellent choice for anyone looking to secure their financial future.
5) Afya SACCO
Afya SACCO, officially known as Afya Co-operative Savings and Credit Society, is a prominent savings and credit cooperative society in Kenya.
Established in 1971, it has grown significantly to become a key player in the cooperative and financial sectors in the country.
Afya SACCO serves healthcare professionals across Kenya, offering a variety of financial services tailored to meet their unique needs.
- Total Assets: Kshs. 20.94 billion
- Total Deposits: Kshs. 15.63 billion
- Gross Loans: Kshs. 13.21 billion
- Total Income: Kshs. 2.79 billion
Joining Afya SACCO provides healthcare professionals with financial stability and growth opportunities. The SACCO’s focus on affordable financial services and member support makes it a valuable resource for its members.
Note: Moneyspace couldn’t find evidence that Afya sacco provides adequate online support. Facebook page hasn’t been updated since 2014, and the website is outdated, basic, and lacking basic features such as SSL certificate.
6) Unaitas SACCO
Unaitas Sacco, officially known as Unaitas Savings & Credit Cooperative Society Limited, is a prominent deposit-taking Sacco in Kenya.
It was initially registered in 1993 as the Murang’a Tea Growers Sacco, founded by a group of tea farmers from Murang’a County (source).
Over the years, Unaitas has expanded significantly and is now one of the largest Saccos in Kenya.
Unaitas provides a range of financial services, including accepting deposits and offering various loan products.
The cooperative has made substantial progress since its inception, recently celebrating 30 years of impact investing and serving a diverse membership base (source).
Unaitas continues to strive for growth, aiming to expand its asset base and enhance its financial services to better serve its members and the broader community (source).
- Total Assets: Kshs. 20.40 billion
- Total Deposits: Kshs. 11.02 billion
- Gross Loans: Kshs. 16.36 billion
- Total Income: Kshs. 3.27 billion
Joining Unaitas SACCO means becoming part of a supportive community dedicated to financial growth and stability.
7) Imarisha SACCO
Originally founded to serve teachers in the Kericho region, Imarisha Sacco has since expanded its membership base to include individuals from various professions and walks of life.
This cooperative prides itself on its customer-centric approach, aiming to provide exceptional financial services to its members.
The Sacco offers a wide range of financial products, including savings accounts, loan facilities, and investment opportunities.
It operates a network of 14 branches across Kenya, ensuring accessibility and convenience for its members.
Imarisha Sacco has a strong online presence, engaging with its members through various platforms such as Facebook, Twitter, and Instagram.
This digital engagement is complemented by a mobile application, M-Imarisha, which allows members to perform transactions such as withdrawing money via M-PESA, ATMs, or agents.
- Total Assets: Kshs. 19.82 billion
- Total Deposits: Kshs. 14.08 billion
- Gross Loans: Kshs. 15.73 billion
- Total Income: Kshs. 3.32 billion
Joining Imarisha SACCO provides members with financial stability and growth opportunities.
The SACCO’s focus on affordable financial services and member support makes it a valuable resource for its members.
8) Tower SACCO
Tower SACCO was established to serve the financial needs of members from various sectors. It offers a wide range of financial services including savings, loans, and investment opportunities.
Tower SACCO provides personal loans, development loans, and emergency loans at competitive interest rates. It also offers savings accounts and fixed deposit options, allowing members to save and earn interest on their deposits.
The SACCO is known for its excellent customer service and commitment to member welfare. It offers financial education programs to help members manage their finances effectively and make informed investment decisions.
- Total Assets: Kshs. 17.52 billion
- Total Deposits: Kshs. 13.41 billion
- Gross Loans: Kshs. 15.23 billion
- Total Income: Kshs. 2.86 billion
Joining Tower SACCO means becoming part of a supportive community dedicated to financial growth and stability. The SACCO’s wide range of services and commitment to member education make it an excellent choice for anyone looking to secure their financial future.
9) United Nations SACCO (UNSACCO)
The United Nations Savings and Credit Cooperative Society Limited (UNSACCO) is a prominent financial cooperative based in Nairobi, Kenya.
Established in 1975, UNSACCO was initially formed to serve the financial needs of United Nations employees in Kenya.
Over the years, it has grown significantly and now includes members from various UN agencies, diplomatic missions, and other international organizations.
This cooperative offers a wide range of financial products and services, including savings accounts, various loan products, and investment opportunities tailored to meet the diverse needs of its members.
One of the key benefits of membership is access to efficient loan appraisal processes and competitive interest rates.
In addition to its core financial services, UNSACCO also offers specialized accounts such as the Junior Savings account, which is designed to inculcate a savings habit among children and secure their financial future.
- Total Assets: Kshs. 16.70 billion
- Total Deposits: Kshs. 12.56 billion
- Gross Loans: Kshs. 10.27 billion
- Total Income: Kshs. 1.94 billion
Joining United Nations SACCO provides members with financial stability and growth opportunities. The SACCO’s focus on affordable financial services and member support makes it a valuable resource for its members.
10) Apstar Sacco (Formerly, Ukulima SACCO)
Apstar Sacco, formerly known as Ukulima Sacco, is a cooperative society in Kenya that has undergone a significant transformation to better serve its members.
The rebranding to Apstar Sacco reflects its commitment to embracing modern financial solutions and expanding its reach and services (source).
Apstar sacco key features and services
- Digital platforms: Apstar Sacco offers a range of digital banking services to enhance convenience and accessibility for its members. This includes mobile banking, which allows members to manage their finances anytime and anywhere.
- Loan products: The Sacco provides various loan products tailored to meet the needs of its members, such as business loans. Members can open a BizCurrent account to access these loan facilities.
- Technology Integration: Apstar Sacco has embraced technology to offer more efficient and seamless services. This includes the implementation of robust digital channels to facilitate transactions and member interactions.
Membership
Apstar Sacco’s membership is open to individuals from various sectors, offering them a platform to save and access affordable credit.
The cooperative society continues to grow its membership base by enhancing its service offerings and ensuring member satisfaction.
- Total Assets: Kshs. 14.66 billion
- Total Deposits: Kshs. 10.25 billion
- Gross Loans: Kshs. 12.09 billion
- Total Income: Kshs. 1.91 billion
Branch network
Apstar Sacco has expanded its physical presence with branches in several key locations, including Kisumu, Kisii, Eldoret, Nakuru, Nairobi, Embu, and recently opening its ninth branch in Meru County
11) Invest and grow (IG) SACCO
Invest and Grow Sacco, commonly known as IG Sacco, is a licensed deposit-taking Sacco based in Kakamega, Kenya.
It is regulated by the Sacco Societies Regulatory Authority (SASRA) and is committed to providing a variety of financial services to its members aimed at promoting saving and investing.
IG Sacco has been operational for over 44 years and continues to strengthen its financial capacity and service offerings.
The Sacco recently unveiled its 2023-2027 Strategic Plan, which outlines its commitment to serving its members and the community with dedication and foresight.
This strategic roadmap aims to enhance the Sacco’s service delivery and ensure sustainable growth and development (source).
- Total Assets: Kshs. 12.96 billion
- Total Deposits: Kshs. 7.04 billion
- Gross Loans: Kshs. 9.52 billion
- Total Income: Kshs. 1.76 billion
12) Gusii mwalimu SACCO
Gusii Mwalimu SACCO serves the financial needs of teachers in the Gusii region and beyond. It offers a variety of financial services including savings, loans, and investment opportunities.
Gusii Mwalimu Sacco has maintained a strong position in Kenya’s Sacco sub-sector, consistently ranking high due to its operational efficiency and commitment to member satisfaction.
The institution offers various services, including savings accounts, loan products, and mobile banking solutions, which allow members to perform transactions such as transfers via M-Pesa.
- Total Assets: Kshs. 12.85 billion
- Total Deposits: Kshs. 9.26 billion
- Gross Loans: Kshs. 11.26 billion
- Total Income: Kshs. 2.10 billion
13) Hazina SACCO
Hazina SACCO was established to serve the financial needs of employees of the Ministry of Finance and other government departments.
It offers a wide range of financial services including savings, loans, and investment opportunities.
This Sacco aims to enhance the economic well-being of its members by offering diversified banking services through its Front Office Savings Activities (FOSA)
- Total Assets: Kshs. 12.58 billion
- Total Deposits: Kshs. 9.66 billion
- Gross Loans: Kshs. 8.31 billion
- Total Income: Kshs. 1.51 billion
Benefits:
- Financial wellness education
- Borrow up to 5x of your deposits, capped at KES 30M
- Loan buy offs from other institutions such as banks
- High interest on deposits and dividend on share capital
- Loan top ups
- Normal loans processed within 3 working days
14) Bandari SACCO
Bandari Sacco Society Limited, established in 1975, is a prominent Savings and Credit Co-operative Society based in Mombasa, Kenya.
The Sacco primarily serves employees of the Kenya Ports Authority, the Kenya Maritime Authority, and other organizations within the maritime sector.
Bandari Sacco offers a variety of financial products, including savings accounts, loan products, and mobile banking services.
The Sacco’s mobile banking application, BandariPesa, enables members to perform transactions conveniently from their mobile devices.
For more information about Bandari Sacco and its services, you can visit their official website or follow them on their Facebook page.
- Total Assets: Kshs. 12.01 billion
- Total Deposits: Kshs. 7.54 billion
- Gross Loans: Kshs. 7.93 billion
- Total Income: Kshs. 1.57 billion
15) Mentor SACCO
Mentor Sacco Society Limited is a modern and fast-growing savings and credit cooperative society based in Kenya.
The primary aim of Mentor Sacco is to mobilize savings and provide affordable loans at low-interest rates to its members.
This cooperative focuses on adding value to the lives of its members by offering competitive credit facilities and financial advice that supports their financial growth and stability.
- Total Assets: Kshs. 11.77 billion
- Total Deposits: Kshs. 8.91 billion
- Gross Loans: Kshs. 8.68 billion
- Total Income: Kshs. 1.54 billion
16) Imarika SACCO
Imarika Sacco is a prominent Savings and Credit Cooperative Society based in Kilifi County, Kenya.
Established in 1974, it aims to provide a reliable savings avenue and affordable loan options to its members.
Over the years, Imarika Sacco has grown significantly and now boasts a membership exceeding 140,000, with an asset base of Ksh11 billion and a loan portfolio of Ksh9 billion (source).
The Sacco’s core business revolves around offering efficient, innovative, and competitive financial solutions to its members, enhancing their economic well-being.
They provide various financial services, including savings accounts, loans, and investment opportunities (source).
- Total Assets: Kshs. 11.67 billion
- Total Deposits: Kshs. 7.48 billion
- Gross Loans: Kshs. 10.15 billion
- Total Income: Kshs. 1.80 billion
17) Newfortis SACCO
NewFortis Sacco, formerly known as Nyeri Teachers Sacco, was established in 1976. It provides a wide range of financial services to its members, including savings accounts, loan products, and investment opportunities.
The Sacco has grown significantly over the years, now offering services through its Front Office Services Activities (FOSA), which act as the banking arm of the Sacco.
NewFortis Sacco is known for its competitive interest rates on deposits and dividends. For instance, in recent years, the Sacco has provided interest rates as high as 13% on non-withdrawable deposits and 14% dividends on shares.
This commitment to high returns reflects its dedication to delivering value to its members.
- Total Assets: Kshs. 10.19 billion
- Total Deposits: Kshs. 7.49 billion
- Gross Loans: Kshs. 6.76 billion
- Total Income: Kshs. 1.31 billion
18) Safaricom SACCO
Safaricom Sacco is a well-established Savings and Credit Cooperative Society in Kenya, primarily serving employees of Safaricom and its affiliates.
Founded in 2001, the Sacco has grown to include over 18,000 members. It aims to provide financial empowerment through various savings and credit products tailored to meet the diverse needs of its members.
The Sacco offers a range of services, including savings accounts, personal loans, asset financing, and development loans.
They have embraced digital solutions to enhance member convenience, such as the SafCIRI mobile application and USSD code *345# for transactions.
- Total Assets: Kshs. 10.02 billion
- Total Deposits: Kshs. 6.66 billion
- Gross Loans: Kshs. 7.10 billion
- Total Income: Kshs. 0.99 billion
For more information, you can visit the Safaricom Sacco website or follow their updates on Twitter.
19) Metropolitan national SACCO
Metropolitan National Sacco is a prominent cooperative established in 1977.
It serves a diverse membership base, including individuals, groups, and organizations, providing various financial services aimed at enhancing the economic well-being of its members.
The Sacco’s offerings include savings accounts, personal loans, business loans, and other financial products designed to meet the needs of its members.
The Sacco has faced challenges, including significant financial losses due to fraud and mismanagement. For instance, former officials were taken to court over the loss of Ksh 7 billion, highlighting issues of internal controls and governance
The Sacco has multiple branches across Kenya, ensuring accessibility for its members. For more details, you can visit their official website or their Facebook page.
- Total Assets: Kshs. 10.56 billion
- Total Deposits: Kshs. 7.39 billion
- Gross Loans: Kshs. 17.98 billion
- Total Income: Kshs. 0.45 billion
Joining Metropolitan National SACCO means becoming part of a supportive community dedicated to financial growth and stability. The SACCO’s wide range of services and commitment to member education make it an excellent choice for anyone looking to secure their financial future.
20) Boresha SACCO
Boresha SACCO, originally known as Baringo Teachers SACCO Society Limited, was rebranded in 2012 and has since grown to be a significant financial institution in Kenya.
It is headquartered in Teachers Plaza, Eldama Ravine, Koibatek Sub County (source).
The SACCO has over 85,000 members spread across Kenya and the diaspora (source).
It offers a variety of financial products and services, including deposits, withdrawals, and financial inquiries through its mobile application.
The SACCO has embraced technology with the M-Boresha System, which allows members to access financial services conveniently.
- Total Assets: Kshs. 9.90 billion
- Total Deposits: Kshs. 6.21 billion
- Gross Loans: Kshs. 8.38 billion
- Total Income: Kshs. 1.42 billion
21) Winas SACCO
Winas SACCO, originally known as Embu Teachers SACCO Limited, is a SASRA-licensed financial cooperative based in Embu, Kenya.
It has grown significantly and now serves over 20,000 members. The SACCO offers a variety of financial services, including savings accounts, loans, and investment opportunities.
Members can access services through the M-Winas Mobile application, which allows for transactions, loan applications, and account management.
Also, the SACCO has launched initiatives to raise capital, such as floating shares to raise KSh 500 million (source).
For more information, you can visit the Winas SACCO website.
- Total Assets: Kshs. 9.47 billion
- Total Deposits: Kshs. 5.77 billion
- Gross Loans: Kshs. 9.73 billion
- Total Income: Kshs. 1.52 billion
22) Trans Nation SACCO
Trans Nation Sacco Ltd, commonly known as TN Sacco, is a financial cooperative based in Kenya that aims to empower its members through the mobilization of savings and the provision of affordable and diversified financial products and services.
The Sacco offers a variety of services under its BOSA (Back Office Services Activities) and FOSA (Front Office Services Activities) divisions.
Through BOSA, members can access a range of savings products that provide good dividends and affordable credit options.
The FOSA division, headquartered in Kitale Town, offers additional services such as transaction processing and other financial activities.
TN Sacco also provides a mobile application called TN Cash, which allows members to perform transactions anytime and anywhere, enhancing convenience and accessibility.
- Total Assets: Kshs. 9.70 billion
- Total Deposits: Kshs. 7.22 billion
- Gross Loans: Kshs. 9.08 billion
- Total Income: Kshs. 1.74 billion
23) Kenya bankers SACCO
Kenya Bankers Sacco (KBS) is one of the most prominent savings and credit cooperative societies in Kenya, with over 25,000 members.
Established to provide financial solutions to employees within the banking sector, it has grown to include members from various sectors.
Founded in 1975, KBS was initially aimed at addressing the financial needs of employees in the banking industry.
Over the years, it has expanded its membership base to include individuals from other sectors, becoming one of the most reliable SACCOs in Kenya.
- Total Assets: Kshs. 9.56 billion
- Total Deposits: Kshs. 6.98 billion
- Gross Loans: Kshs. 7.22 billion
- Total Income: Kshs. 1.12 billion
24) Kimisitu SACCO
Kimisitu SACCO, founded in March 1985 by staff members of the International Centre for Research in Agroforestry (ICRAF), aims to promote thrift among its members, providing them an opportunity to accumulate savings and access loans for provident and productive purposes.
This cooperative society has grown to be a Tier One SACCO, recognized for its robust asset base and diverse financial products.
- Total Assets: Kshs. 9.54 billion
- Total Deposits: Kshs. 6.57 billion
- Gross Loans: Kshs. 7.26 billion
- Total Income: Kshs. 1.09 billion
25) Cosmopolitan SACCO
Cosmopolitan SACCO, originally known as Nakuru Teachers SACCO, has been operational since 1977.
It was rebranded in 2012 to accommodate members from various sectors beyond just teachers. This deposit-taking SACCO (DT-SACCO) is headquartered in Nakuru, Kenya.
Cosmopolitan SACCO is recognized for its sound financial management and governance practices. It boasts an asset base of over Ksh 9.13 billion, making it one of the largest SACCOs in Kenya.
- Total Assets: Kshs. 9.13 billion
- Total Deposits: Kshs. 7.34 billion
- Gross Loans: Kshs. 7.78 billion
- Total Income: Kshs. 1.18 billion
26) Fortune SACCO
Fortune SACCO, originally established as the Union Banking Section of the Kirinyaga District Co-Op Union (KDCU) in 1972, has undergone significant growth and transformation.
In 1998, it became the autonomous Kirinyaga District Farmers SACCO Society (KDFSS) and eventually rebranded to Fortune SACCO in 2008.
Today, it boasts a membership of over 140,000, making it one of the fastest-growing SACCOs in Kenya (Fortune Sacco).
Ranked as the 38th largest deposit-taking SACCO by SASRA, Fortune SACCO has an asset base of Ksh 5.56 billion.
It has maintained strong financial stability with core capital to total assets and deposits exceeding prescribed standards.
The SACCO’s liquidityLiquidity refers to the ease with which assets can be converted into cash without significantly affecting their market price. This concept is crucial ... ... ratio is also robust, ensuring that members’ financial needs are promptly met.
- Total Assets: Kshs. 5.56 billion
- Total Deposits: Kshs. 3.21 billion
- Gross Loans: Kshs. 5.06 billion
- Total Income: Kshs. 0.92 billion
27) Nyati SACCO
Nyati SACCO, established in 1977 by employees of the Kenya Wildlife Service (KWS), has grown to become one of Kenya’s largest and most successful SACCOs.
With over 33,000 active members, Nyati SACCO serves various sectors including security, education, health, transport, and agriculture.
In the 2023 financial year, Nyati SACCO saw significant growth, with its balance sheet increasing by 7.99% to KSh 4.94 billion. The SACCO’s member deposits also grew by 4.88% to KSh 2.91 billion.
This financial growth has strengthened Nyati SACCO’s ability to lend more to its members and venture into new investment areas.
The SACCO’s revenue for the year was KSh 765.5 million, up from KSh 689.9 million in 2022.
- Total Assets: Kshs. 4.58 billion
- Total Deposits: Kshs. 2.77 billion
- Gross Loans: Kshs. 3.53 billion
- Total Income: Kshs. 0.69 billion
28) Waumini SACCO
Waumini SACCO, established in 1980 under the Co-operative Societies Act of Kenya, is a prominent savings and credit co-operative society primarily serving the Catholic Church community.
It mobilizes savings and deposits to extend credit to its members, thereby empowering them economically and socially.
The SACCO has a broad membership base, including individuals, corporate institutions, Catholic Church groups, and past employees of Catholic institutions.
In recent years, Waumini SACCO has received significant recognition for its excellence in governance, efficiency, and risk management.
During the 100th Ushirika Day celebrations in 2022, the SACCO won five national awards, including Best Managed Deposit Taking SACCO and Most Efficient Deposit Taking SACCO.
These accolades underscore Waumini’s commitment to high standards in managing member deposits and providing efficient services.
- Total Assets: Kshs. 6.30 billion
- Total Deposits: Kshs. 4.40 billion
- Gross Loans: Kshs. 4.10 billion
- Total Income: Kshs. 0.60 billion
29) Sheria SACCO
Sheria SACCO, established in 1972, is a prominent savings and credit cooperative society in Kenya, initially serving employees from the Judiciary and the Attorney General’s office.
Over the years, it has expanded its membership to include salaried individuals and business people, fostering significant growth.
As of recent reports, the SACCO boasts a membership of over 15,000 and an asset base exceeding Ksh 7 billion.
In 2021, the SACCO announced plans to construct a Ksh 2 billion twin-tower complex in Upper Hill, Nairobi, comprising commercial residential units, shopping centers, and offices.
This project aims to convert prime property into an income-generating asset for the benefit of its members (The Star).
To fund this ambitious project, Sheria SACCO introduced the Mavuno savings account, offering members up to 10% annual returns for locking their savings over a period of five to ten years (Business Daily Africa).
- Total Assets: Kshs. 8.51 billion
- Total Deposits: Kshs. 6.18 billion
- Gross Loans: Kshs. 7.45 billion
- Total Income: Kshs. 1.04 billion
30) Ports Sacco (Mombasa Port SACCO)
Mombasa Port SACCO, recently rebranded to Ports SACCO, was established in 1966 by employees of the then East African Harbours and Railways Corporation.
Initially dedicated to employees of the Kenya Ports Authority, the SACCO has diversified its membership to include a wide range of individuals and organizations within the marine region.
In 2023, Ports SACCO aimed to grow its asset base to over Ksh 10 billion, up from Ksh 8 billion the previous year.
This growth is part of a broader strategy to expand its presence nationwide, targeting a significant increase in membership.
The SACCO’s CEO, Dedan Ondieki, highlighted challenges such as inflation and economic pressures but noted that operational efficiency improvements and a robust loan portfolio supported their growth
- Total Assets: Kshs. 8.14 billion
- Total Deposits: Kshs. 4.59 billion
- Gross Loans: Kshs. 5.20 billion
- Total Income: Kshs. 1.05 billion
Conclusion
Joining a SACCO in Kenya offers numerous benefits, from affordable loans to earning dividends on your savings.
These top 30 SACCOs provide a wide range of financial services, making them an excellent choice for anyone looking to secure their financial future.
So, whether you are a teacher, a police officer, or a member of any other sector, there is a SACCO that caters to your unique financial needs.
By becoming a member, you join a supportive community dedicated to financial growth and stability.
