Deposit Taking SACCOs Regulated by SASRA

Savings and Credit Cooperative Organizations (SACCOs) in Kenya are licensed and regulated by the SACCO Societies Regulatory Authority (SASRA). Licenses are renewed every year.

Most SACCOs are managed by a professional committee or delegates elected by members annually or according to the laws of the organization.

What are SACCOs

SACCOs are investment societies that serve the interests of people with similar views, occupational or communal. For example, some SACCOs serve only farmers and those that serve only teachers in a given county or region.

Some SACCOs, however, accept membership from any employed persons.

See also: SACCO Paybill Numbers and USSD Codes

When you register with a SACCO, you agree to save a minimum monthly contribution. This instills a savings discipline since you can only withdraw your savings once you exit the SACCO. However, you get to earn yearly dividends on your savings.

In some SACCOs, like Mwalimu National SACCO, the next of kin can take over the running of a member’s account upon the member’s demise, not to mention the member’s savings doubling.

SACCOs VS Banks in Kenya

SACCOs mainly generate revenue through the interest charged on loans they offer to their members. Additionally, some SACCOs may also invest in real estate and the stock market to earn extra income.

Compared to banks in Kenya, SACCOs are generally more transparent and do not have hidden charges, especially on loans. SACCOs typically offer fixed interest rates on loans that remain constant even during changing economic times.

In contrast, banks’ interest rates may vary within the lifespan of the loan, which can lead to loan payment period adjustments without prior notice.

Read: Branches and Contacts of Popular SACCOs in Kenya

On average, SACCOs charge an interest rate of 12% per annum, while banks may charge rates as high as 28%, depending on the interest caps set by the Central Bank of Kenya.

Deposit Taking SACCOs

In Kenya, SACCOs are either deposit-taking (DT) or non-deposit-taking.

Deposit-taking SACCOs DTs are grouped according to the interests they serve;

1. Community-Based DT SACCOs
2. Government Based DT SACCOs
3. Private Based DT SACCOs
4. Farmer Based DT SACCOs
5. Teacher Based DT SACCOs

By the time of writing this post, SASRA had listed 177 existing deposit-taking SACCOs in Kenya whose licenses are valid for the period from January 1st, 2025, to December 31st, 2025.

List of Deposit-Taking SACCOs in Kenya Regulated by SASRA

Here is a list of deposit-taking SACCOs in Kenya licensed and regulated by SASRA for the year 2025:

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