The Best Saccos to Join in Kenya


The history of Savings and credit Cooperative Organization (SACCOS) in Kenya dates back to 1908 when the first cooperation was established. The number of saccos has continued to grow ever since, providing Kenyans with options of Saccos to join.

In a 2019 report by SASRA, there are more than 5000 registered saccos. The middle class and low-income earners are opting for these saccos to save with instead of banks. Additionally there are numerous saccos to invest in for better returns.

Saccos offer their customers loans at low interest rates compared to banks. The requirements for getting these loans are also not as strict as bank requirements.

Many saccos pay dividends to members who purchase shares. Most have a limit of how many shares you should purchase to start earning dividends. The institutions act as a good ground to build your small business.

Top SACCOs to Join in Kenya

Name of  the Sacco Year Established Last dividends paid Membership
Safaricom 2001 7.5% Employees of Safaricom Ltd, spouses of employees, former employees of the company, the general public
Stima 1974 10.5% Public
Mwalimu 1974 11.2% Teachers, TSC employees, and employees of the Sacco, education students
Harambee 1970 5.5% Government and parastatal employees
Kenya Police 1973 17.5% Public
Waumini 1980 9.25% Public
Mhasibu 1986 13.5% Members registered under the ministry of industry, trade, and cooperation.
K-Unity 1974 7% Public
Unaitas 1993 9% Public
Hazina 1971 11% Public
List of Saccos to Invest in

1. Safaricom Sacco

Safaricom Sacco was set up in 2001 to provide its members with diversified products and services. Currently, it has more than 8,000 members and an asset base of more than 2.8 billion.

It has two branches both within Nairobi city. One is along Mombasa Road and the other at the Safaricom Care Center in Westland.

Membership is open to all employees of Safaricom Limited, those that have retired or resigned from service. It also accepts spouses of Safaricom employees, and employees the sacco. Also, members of the public are welcome.

The Sacco is among the highest paying in terms of dividends.

2. Stima Sacco

Since its inception in 1974, the Sacco has grown to be one of the best Saccos in Kenya. Its membership is open to the employees of Kenya Power and the public. 

It has 8 branches distributed across the country with the head office located in Parklands, Nairobi.

Members enjoy loans of up to three times their savings and 1% interest loans on reducing balance. Stima Sacco helps its members in asset acquisition such as land and property.

3. Mwalimu Sacco

Mwalimu sacco opened its doors back in 1974. The sacco membership is open to all teachers, employees of the sacco, and employees of Teachers Service Commission. Additionally, education students are welcome as well.

Sacco members enjoy various products and services such as loans, BOSA and FOSA products, and welfare services. It has total assets of more than 46.2 billion shillings and 18 branches across the country.

4. Harambee Sacco

Since its inception in 1970, the sacco has grown in leaps and bounds to have more than eighty thousand members.

It is among the top ten saccos with the highest membership and branches. The Sacco also boasts of being a multi-billion institution with an asset base of more than 19 billion shillings.

Membership is open to government and parastatal employees. Members enjoy several products and services, such as low-interest loans and personal savings.

5. Kenya Police Sacco

Initially, this Sacco served members of the armed forces, but membership opened to the public later. The Sacco was established in 1973 to mobilize savings and offer credit facilities to its members. 

With an asset base of 30 billion and a 26 billion loan portfolio, it’s among the best saccos to invest in. It has M-Pesa paybill and USSD services to ease transactions.

6. Waumini Sacco

This Sacco was formed in 1980 by the catholic church. Today, it’s one of the leading progressive Saccos with more than 33,000 members across the 26 catholic dioceses.

The Sacco attributes its prosperity to visionary leaders, excellent products and services, dedicated members, and committed staff.

In March 2009, the bank opened doors to its members by providing Front Office Service Activity (FOSA). The Sacco empowers its members socially and economically by mobilizing savings and deposits and extending credit services at affordable rates.

7. Mhasibu Sacco

Mhasibu is a Swahili word meaning an accountant. Institute of Certified Public Accountants of Kenya (ICPAK) established this Sacco in 1986. 

The Sacco boasts of being a tier-one Sacco with an asset base of more than 5 billion shillings. Mhasibu Sacco is a reputable Sacco that is open to members registered under the ministry of industry, trade, and cooperation.

8. K-Unity Sacco

The Sacco majorly serves people residing in Kiambu and Nairobi, where it has several branches. Membership is open to everyone, but you have to go through vetting according to its membership policy.

Members enjoy credit products of up to 4 times their savings at an interest rate of 1% at reducing balance. Small business enterprises have greatly benefitted from services and products of K-Unity Sacco.

9. Unaitas Sacco

Unaitas Sacco was established in 1993 as Muranga Tea Growers. In 2007 it changed its name to Muramati Sacco, and later in 2012, it rebranded to Unaitas.

The sacco has recorded significant growth over the past ten years. Membership is open to everyone who wishes to join. Members enjoy saving products and loan products such as development loan, biashara loan, inuka loan, project loan, kilimo poa advance, quick business fix, and maono advance loan.

10. Hazina Sacco

This sacco has been in operation since 1971, and it has ensured successful operation and growth throughout the decades. Its membership is more than 16,000.

Members can access loans of up to 3.5 times the savings and a repayment period of seventy-two months. Apart from loans, the Sacco has BOSA and FOSA products for its customers.

There are many saccos in Kenya that one can opt to join. However, some are not regulated and licensed by SASRA. Investing and saving with such saccos can be a huge risk because you do not have a guarantee of your money.

There have been cases where saccos have gone under, and members have lost their money and assets. Therefore, we should do our due diligence before joining any sacco.

Saccos discussed above are some of the best saccos to invest in Kenya. Members are also allowed to buy shares and earn dividends.  Joining a sacco will help you grow financially.

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