Kenya’s Best SACCOs to Join in 2024
Savings and Credit Cooperative Organizations (SACCOs) in Kenya aim to unite individuals with similar financial characteristics for a common goal of saving and investment. While many SACCOs offer these opportunities, not all have successfully protected their members’ interests at a high level.
Below is a detailed list of the best-managed and high-performing SACCOs you can consider joining in Kenya as of 2024.
Kenya’s Best SACCOs to Join in 2024
1. Stima Sacco
Stima Sacco is a leading, fast-growing, and licensed deposit-taking SACCO with an asset base of approximately Kshs. 53.78 billion. It offers a variety of savings and credit products, including development loans, asset financing, business loans, and mortgages. Open to all, Stima Sacco has branches in Nairobi, Kisumu, Eldoret, Nakuru, Embu, and Mombasa.
2. Mwalimu National Sacco
Mwalimu National Sacco is the largest SACCO in Africa, primarily serving teachers in Kenya. It provides products and services such as business loans, welfare services, Back Office Services Activities (BOSA), and Front Office Services Activities (FOSA). Membership is restricted to teachers, SACCO employees, and Teachers Service Commission employees, with an asset base of Kshs. 64.06 billion.
3. Nyati Sacco
Nyati Sacco offers a broad range of financial services, including savings, loans, and investments. It is renowned for being the highest dividend-paying SACCO in Kenya, with a dividend payout rate of 21% on its share capital.
Follow Teachers Updates Page On Facebook
4. Amica Sacco
Amica Sacco, established in 1966 by coffee farmers in Muranga, later expanded to serve all sectors. It rebranded in 2016 and operates with an asset base of Kshs. 6.45 billion. Amica Sacco provides various banking channels such as mobile banking, Sacco Agency, Visa Cards, and money transfer services. Members can borrow up to ten times their savings with a repayment period of up to five years, at interest rates as low as 1% per month.
Contact Information: 0729 333 444
Website: www.amicacs.co.ke
5. Afya Sacco
Afya Sacco is one of the largest deposit-taking SACCOs in Kenya with an asset base of Kshs. 20.94 billion. It is a democratic, member-driven financial institution governed by its members, who share a common bond.
6. Ports Sacco
Ports Sacco is a Tier 1 licensed deposit-taking SACCO with a diverse membership base, including salaried and non-salaried individuals, investment groups, corporates, sole businesses, and diaspora members. It is among the highest dividend-paying SACCOs in Kenya with a dividend payout rate of 20% on share capital.
7. Trans Nation Sacco
Trans Nation Sacco is one of the top-performing SACCOs in Kenya, known for its high dividend payouts. It is SASRA-compliant and has over 37,000 BOSA members and more than 75,000 FOSA accounts. The SACCO’s head office is in Chuka Town, with branches nationwide.
8. Harambee Sacco Society
Harambee Sacco primarily serves members from the national and county governments, parastatals, constitutional bodies, Kenya Defence Forces, National Police Service, and other government departments. The SACCO is also open to private sector members and currently has an asset base of Kshs. 37.01 billion.
9. Magadi Sacco
Magadi Sacco, SASRA-compliant and operational since 1977, welcomes all members. It offers a wide range of BOSA and FOSA products and is 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 base of Kshs. 12.76 billion. It offers high-interest returns on deposits and dividends on share capital. Membership is available to employees of the national and county governments, parastatals, and private organizations.
Additional Notable SACCOs
Sheria Sacco:
Established in 1972, Sheria Sacco has over 10,000 members from the judiciary, AG chambers, various government ministries, and other sectors. It offers a dividend payout rate of 16%.
Kenya Police Sacco:
Operating since 1973, this SACCO caters to serving and retired police officers, civil servants, and corporate employees. It has an asset base of Kshs. 48.98 billion and a loan portfolio of Kshs. 26 billion.
Unaitas Sacco:
A deposit-taking SACCO licensed under the Sacco Societies Act, 2012, with an asset base of Kshs. 20.40 billion. It provides various saving and loan products, including development loans and business quick fixes.
Imarisha Sacco:
Known for its excellent customer service and technological advancements, Imarisha Sacco boasts an asset base of Kshs. 19.82 billion and operates 14 branches nationwide.
Tower Sacco:
With a membership of over 250,000 and an asset base of Kshs. 19.57 billion, Tower Sacco offers loans, savings accounts, and investment products.
Ukulima Sacco:
This SACCO has an asset base of Kshs. 14.66 billion and offers comprehensive lending options, savings, and investment products across Kenya.
Invest & Grow Sacco (IG Sacco):
With an asset base of Kshs. 12.96 billion, IG Sacco is one of the largest and best-managed SACCOs, offering a dividend payout rate of 17%.
Ollin Sacco:
Headquartered in Kerugoya Town, Ollin Sacco is a licensed deposit-taking SACCO with a dividend payout rate of 17.5%.
ALSO READ: Mount Kenya University (MKU) Waives Fees for Graduates with Arrears
Bandari Sacco:
With an asset base of Kshs. 12.01 billion and over 18,000 members, Bandari Sacco provides competitive credit services and promotes financial strength among its members.
Mafanikio Sacco:
A SASRA-compliant deposit-taking SACCO with a dividend payout rate of 18%, Mafanikio Sacco is committed to providing quality financial services and promoting strong capitalisation.
This list showcases SACCOs that have demonstrated strong management and performance, offering members reliable financial services and attractive returns.
Kenya’s Best SACCOs to Join in 2024
