SACCO stands for Savings and Credit Cooperative Organization. Best SACCOs in Kenya are those regulated by SASRA (SACCO Societies Regulatory Authority) since the authority checks on the activities of SACCOs to minimize risks of members losing their hard-earned money. Most SACCOs are managed by a professional committee or delegates elected by members annually or according to the laws of the organization.

SACCOs in Kenya serve the interests of people with similar views; occupational or communal. For example, there are those SACCOs serving only farmers, and those serving only teachers in a given county or region. Some SACCOs, accept membership from any employed person.

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 saving 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 keen can take over the running of a member’s account upon the member’s demise, not to mention from the member’s savings doubling.

SACCOs VS Banks in Kenya

How do SACCOs make money? SACCOs make money mostly on the small interest from loans they lend to members. Some SACCOs also make money by investing in real estate and or selling stocks on the NSE.

SACCOs do not have hidden charges compared to banks in Kenya which have a lot of hidden charges, especially on loans.

The interest rate on SACCO loans is constant despite changing economic times. On the other hand, banks’ interest rates vary within the lifespan of the loan. This means your loan payment period will be adjusted upwards without any prior notice from the bank.

Most organizations charge an average interest rate of 12% per annum. While banks may charge rates as high as 28%, depending on the interest caps from CBK.

Deposit Taking SACCOs Regulated by SASRA

SASRA is the sole authority in Kenya which issues yearly renewal licenses to deposit-taking SACCOs. 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 172 existing deposit taking SACCOs in Kenya.

List of Deposit-Taking SACCOs in Kenya

Here is a list of deposit-taking SACCOs in Kenya regulated by SASRA, ranked in the order of total assets they have. The first 31 are categorized as large-sized DT SACCOs, the next 58 are Medium-sized and the rest small sized.

  1. MWALIMU NATIONAL
  2. STIMA
  3. KENYA POLICE
  4. HARAMBEE
  5. AFYA
  6. METROPOLITAN
  7. UNAITAS
  8. UN
  9. IMARISHA
  10. UKULIMA
  11. TOWER
  12. INVEST & GROW
  13. BANDARI
  14. GUSII MWALIMU
  15. IMARIKA
  16. HAZINA
  17. KENYA BANKERS
  18. MENTOR
  19. NEW-FORTIS
  20. BORESHA
  21. SAFARICOM
  22. WINAS
  23. COSMOPOLITAN
  24. MAGEREZA
  25. MOMBASA PORT
  26. SHERIA
  27. BINGWA
  28. KITUI TEACHERS
  29. OLLIN
  30. SOLUTION
  31. TRANS NATION
  32. NACICO
  33. WAUMINI
  34. JAMII
  35. KWETU
  36. K-UNITY
  37. AMICA
  38. UNISON
  39. MAISHA BORA
  40. YETU
  41. CHAI
  42. CAPITAL
  43. FORTUNE
  44. NYATI
  45. TAIFA
  46. SHIRIKA
  47. TEMBO
  48. KENPIPE
  49. KENYA HIGHLAND
  50. NDEGE CHAI
  51. NGÁRISHA
  52. KENVERSITY
  53. TAI
  54. ASILI
  55. EGERTON UNIVERSITY
  56. THE NOBLE
  57. GDC SACCO
  58. NSSF
  59. QWETU
  60. NAWIRI
  61. NATION
  62. MWITO
  63. ARDHI
  64. UKRISTO NA UFANISI WA ANGLICANA
  65. BIASHARA
  66. DIMKES
  67. CHUNA
  68. AZIMA
  69. TRANS NATIONAL TIMES
  70. WAKENYA PAMOJA
  71. SKYLINE
  72. WANANDEGE
  73. KIINGDOM
  74. TRANS-ELITE COUNTY
  75. WANANCHI
  76. TELEPOST
  77. WANA-ANGA
  78. SIMBA CHAI
  79. ELIMU
  80. TAQWA*
  81. UNIVERSAL TRADERS
  82. SOUTHERN STAR
  83. SMARTLIFE
  84. SHOPPERS
  85. FARIDI
  86. DAIMA
  87. KITE
  88. CENTENARY
  89. ECO-PILLAR
  90. FUNDILIMA
  91. MAFANIKIO
  92. GOOD HOPE*
  93. AIRPORTS
  94. 2NK
  95. PRIME-TIME
  96. TIMES U
  97. MUKI
  98. ORIENT
  99. COMOCO
  100. SULUHU
  101. TABASAMU
  102. MAGADI
  103. MMH
  104. TARAJI
  105. K-PILLAR
  106. DHABITI
  107. THAMANI
  108. KIMBILIO DAIMA
  109. BI-HIGH
  110. WAKULIMA COMMERCIAL
  111. VISIONPOINT
  112. NAFAKA
  113. NYALA VISION
  114. PATNAS
  115. JITEGEMEE
  116. SUPA
  117. SIRAJI
  118. COUNTY
  119. GOLDEN PILLAR
  120. LAINISHA
  121. KENYA ACHIEVAS
  122. NRS
  123. WEVARSITY
  124. TABASURI
  125. BARAKA
  126. TENHOS
  127. FARIJI
  128. VISION AFRIKA
  129. PUAN
  130. SMART CHAMPION
  131. MUDETE FACTORY TEA GROWERS
  132. UFANISI
  133. KENCREAM
  134. NDOSHA
  135. JOINAS
  136. NYAMIRA TEA
  137. STAWISHA
  138. VIKTAS
  139. DUMISHA
  140. NYAMBENE ARIMI
  141. SOTICO
  142. LENGO
  143. LAMU
  144. STAKE KENYA
  145. WASHA
  146. NUFAIKA
  147. FORTITUDE
  148. ILKISONKO
  149. TRANS COUNTIES
  150. KIPSIGIS EDIS
  151. ENEA
  152. JUMUIKA
  153. BARATON
  154. KENYA MIDLAND
  155. RACHUONYO TEACHERS
  156. AMMAR
  157. AGRO CHEM
  158. KOLENGE
  159. JACARANDA
  160. NANYUKI EQUATOR
  161. NANDI FARMERS
  162. AINABKOI RURAL
  163. MWIETHERI
  164. NEXUS
  165. UNI-COUNTY
  166. THE APPLE
  167. BIASHARA TOSHA
  168. KORU
  169. GOOD FAITH
  170. VIHIGA COUNTY FARMERS
  171. GOODWAY
  172. UCHONGAJI

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