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Best Saccos to join in Kenya

Friday, September 9th, 2022 at 5:08 PM (EAT)

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Best Saccos to join in Kenya

There are so many saccos in Kenya. If you want to save, the following are the best sacco choices you should join.

1. Amica Sacco

Amica is a Tier one Sacco established in 1966 by coffee farmers in Muranga. Currently it is open to people from any industry. It rebranded in 2016 to Amica Savings & Credit. It supports Mobile Banking, Sacco Agency, Visa Card, Cheque books, Pay bills, and Money transfer services like Pesalink and RTFT. Amica Sacco has more than 18 branches and 360 agents across Nairobi, Kiambu, and Muranga Counties.

Members get loans at ten (10) times their savings, popularly known as Investa, and are repayable for up to 5 years with an interest of as low as 1% per month on reducing balance.

Contact: 0729 333 444

2. Stima Sacco

It is a leading countrywide fast-growing and licensed deposit-taking Sacco with an asset base of about Kshs. 30bn. Members can receive support in development loans, asset financing, biashara loans and mortgages. It is open for any member to join. It has branches in Nairobi, Kisumu, Eldoret, Nakuru, Embu and Mombasa.

3. Mwalimu National Sacco

It is the largest African Sacco with a membership drawn from teachers in Kenya. Its products and services include business loans, welfare services, Back Office Services Activities (BOSA) and FOSA products. Its membership is restricted to teachers, employees of the Sacco and employees of the Teachers Service Commission (TSC).

4. Hazina Sacco

It is a nationwide deposit-taking Sacco that was established in 1971 mainly to promote thrift and savings amongst the Sacco’s members. The Sacco draws its membership from government ministries, parastatals, county governments and the private sector.

5. Harambee Sacco Society

Harambee Sacco mainly draws its membership from the National government, County government, government parastatals, constitutional bodies, Kenya Defence Forces, National police service, National youth service and government departments. It is also open to members of the private sector.

6. United Nations Sacco

The Sacco commenced business in 1975. Its asset base currently stands at Kshs. 12 billion. It offers a wide range of financial products and loan services to its members. For one to become a member of the Sacco,  one has to fill a membership application form and pay a fee of 1,000 shillings, raise a share capital of Kshs 50,000 and make monthly contributions of not less than Kshs 2,300.

7. Kenya Police Sacco

The Sacco started operating in 1973 to mobilise savings and provide affordable credit facilities. The Sacco has an asset base of 30 billion and a loan portfolio of Kshs. 26 billion. It draws its membership from serving and retired police officers, employees of the Kenya police service and Sacco, employees of the civil service, the business community and employees from corporate entities.

8. Unaitas Sacco

It offers saving products and loan products such as development loan, biashara loan, inuka loan, project loan, kilimo poa advance, business quick fix and maono advance loan.

9. Kenya Medical Association Sacco

It was registered as a Sacco in 1998 and has tremendously grown as a major financier for medical practitioners countrywide. The Sacco has an asset base that currently stands at 3.655 billion.

10. Kenya Bankers Sacco

It was registered as a Sacco in 1975 to initially serve employees in the banking industry. It currently draws membership from banks, financial/micro-financial institutions, building societies, chamas and other institutions.

11. Waumini Sacco

It has a membership of over 25,000 people drawn from catholic institutions, catholic church faithful and previous employees of Catholic institutions.

12. Kimisitu Sacco 

13. Nation Sacco

14. Bandari Sacco

15. Safaricom Sacco

16. Balozi Sacco

17. Mwito Sacco

18. Sheria Sacco

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