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Top 10 SACCOs in Kenya you Can Join

When we talk about the best SACCOS in Kenya you can join, this is a space that’s all about personal finance, investments, growing your business, growing in your career and I’m so passionate about it.

I am excited because we’re talking about SACCOS in Kenya. If you haven’t joined one please make sure that at the end of this article you make a decision to join one from the list we shall discuss and to day I will give you a list of some of the top SACCOS in Kenya you should consider joining. This list contains names of SACCOS that I have known and found out about.

I have also talked to people about and they have been highly recommended and I cannot wait to share with you the list so if you haven’t joined one please make sure you look at those but if you are already in one that is not in the list that I will mention please feel free to share in the comment section so that we can all grow.

To be sincere, I have had such amazing stories from people who have financed their education through SACCOS, their children’s education, some have built their homes through SACCOs and even started a business through their SACCOs

I have heard from those who had their emergencies sorted out because they were members of a SACCO. This and many more others should be a reason you should consider joining a SACCO. For sure SACCOS are the best alternatives to banking as you get to enjoy low interest rates on loans and you get to profit from SACCO dividends on your Savings.

Some of the best SACCOS in the country gives quite some good dividends especially based on the savings that you have, this has made SACCOS really popular choice among Kenyans who are looking for investment and investment opportunities.

Dividend is the money you receive from your SACCO out of the profits that the SACCO makes for a certain period. Some SACCOS will give you twice a year some quarterly some once a year depending on the policies that they have.

A quick example is if you have put in say Ksh. 10 000 in the SACCO, when the profits are divided then you will get a percentage based on what you have. This implies that the more savings you have, the more dividends you will earn.

As a SACCO member, you’re also going to earn an interest based on the deposits that you have. I will also try and give figures some of these big SACCOS have earned their members in terms of dividends and deficits. So what are some of the things that you must absolutely look for when you’re joining a SACCO?

Things to look out for when joining a SACCO
  • Make sure that they are registered by SASRA.

SASRA is a regulatory body that basically takes care of SACCOS from a legal perspective. Make sure that they’re registered by SASRA. when you go to their website  you can call SASRA and find out is if the SACCO is registered. This way, you will know your money is are safe with the SACCO.

  • Look at the membership
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It is good to check and find out the background of the SACCO. Know the year it was formed and that people trust it. So the older the SACCO is the bigger its membership and the more thriving the membership is then the better for you as well.

  • Carry out Due Diligence

To do this, just go online and do your research, check on the news, what does the news say about these different SACCOS? Have there been scandals? Are there stories that are not ethical that you would prefer not to make a decision about the SACCO?

So just do your due diligence and ask around as well. There’s almost always somebody who knows somebody who knows somebody who is a member of the SACCO you’re interested in joining

  • What Is the SACCO Promising you

I would really like to stress on this, if somebody is promising you some ridiculous high returns, no matter how impressive it might sound, always think twice because most of the times SACCOS that offer crazy dividends or promises you that you make an x amount in one month usually there’s something that isn’t completely right.

  • What do you want to achieve

Another thing you need to think of when you are joining a SACCO is asking yourself what do you want to achieve.

For instance if you want to build a house at the end of next, you can start saving at least Sh.2000 every month so that by December you be able to apply for a loan to finance the construction of the house.

So in no particular order, here is the top 10 list of Best SACCOS you can join in Kenya

TOP 10 SACCOS IN KENYA YOU CAN JOIN TODAY
  1. Bandari SACCO

Bandari SACCO is the biggest SACCO in the coastal region of Kenya and is also one of the biggest SACCOS in the country by asset base. In 2021, Bandari announced a payment of dividends on share capital at a rate of 18% and interest on members deposit at 10%.

Bandari SACCO is one of the top SACCOs that offered the most in terms of the returns on your dividends and the returns on your deposit, so if you’re a member of Bandari SACCO you got 18% on your dividends and 10% on deposit.

  1. Stima SACCO

Stima SACCO is one of the highly recommended SACCOs one can join in Kenya. It’s one of the SACCOs that offers the highest dividends in the country. Stima SACCO was established in 1974 and has large number of members from various sectors. It has won quite a number of awards as well.

Last year, Stima SACCO members 10% on deposits and 17% on the share capital. Stima SACCO has been ranked as the best dividend paying SACCO in Kenya in 2021. All this implies that Stima SACCO is really way up there and is one of the SACCO that has been said to be one of the best in the country.

  1. Kimisitu SACCO

At number three is Kimisitu SACCO. Kimisitu Sacco was formed in March 1985 by a group of Staff from ICRAF. The society was formed mainly to promote thrift among its members by affording them an opportunity for accumulating their savings; and to thereby create a source of funds from which loans can be made to them exclusively for provident and productive purposes, at fair and reasonable rates of interest; thereby enabling them to use and control their money for their mutual benefit.

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The SACCO has grown over time and has some quite interesting products as well . You can open an account for your children and the minimum opening balance is 500 shillings which is quite good because then it’s a lot more flexible.

  1. National SACCO

Nation Sacco Society Ltd was registered in September 15th 1975 with a main purpose of affording members an opportunity to accumulate savings and deposits and thereafter providing them with credit facilities at a fair and reasonable interest rate to better their economic wellbeing.

The society has grown tremendously in the last ten years in terms of membership and product & services range. This period has seen introduction of banking services popularly referred to as FOSA activity which has enabled the society to offer convenient services under one roof conveniently and efficiently.

The society has two departments that offer diversified products. Nation SACCO graduated to a deposit-taking SACCO in March of 2020. They have a school’s fee savings account, have a Chama account and on dividends, members received 15% of dividends and 8% on deposits that’s in 2020.

  1. Kenya Police SACCO.

Next on our list is the Kenya Police SACCO. Kenya National Police DT SACCO was registered on 20th November 1972 and was issued with a registration certificate number CS/2092. The Society started with a membership of 690 and has since grown to 63,450 members. It has 12 elected members; 9 form the Board of Directors and 3 the Supervisory Committee.

Kenya Police SACCO was ranked the second best performing SACCO in 2021. Membership of the SACCO is open to all people

Members of the Kenya Police SACCO earned a 17% dividends on share capital and 10.5% interest in 2020. This makes Kenya Police SACCO one of the best SACCOs one can join.

  1. Hazina SACCO

Hazina SACCO is open to government employees, employees from parastatals, private organizations, private individuals, corporates and CHAMAS.

Hazina SACCO is also one of the top SACCOs in the country today. The SACCO has over 20,000 members and is among the SACCOs that pays members high dividends.

  1. Safaricom SACCO

At number seven is Safaricom SACCO. This is one of the most innovative and one of the fastest growing circles that i’ve actually seen and I guess also because they really know how to handle their media communication so there’s a lot of information out there about Safaricom SACCO

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Safaricom SACCO has also managed to do quite some great investments in real estate and so many other things.

Safaricom SACCO started with a membership of 222 members who were mostly staff members of Safaricom . The SACCO now has over 12 000 members mostly from Safaricom, other telecom companies but there’s also so many other individuals and companies that are members of Safaricom SACCO

In 2020 Safaricom SACCO gave its members dividend payment of 12% on their on their savings.

  1. Mwalimu National SACCO

Mwalinu SACCO is the largest SACCO in the country by membership with deposits worth more

than Ksh. 36.9 billion.

Given its name Mwalimu National SACCO was started out for the teachers. Born on the premise that

you know they are who they are because a teacher believed in them they’re the largest African SACCO with membership drawn from teachers across Kenya

If you are a teacher and if you are in the education space this is a SACCO that you must absolutely look at. They offer access to affordable financial services to teachers. This makes Mwalimu National SACCO quite big and has been in the space for a very long.

They’ve made some bold moves and they even acquired some stake in Spire bank and this shows you how far they have gone.

  1. Biashara SACCO

Biashara Sacco Society Limited was formed by members of the business community in Nyeri, who were also members of the Kenya National Chamber of Commerce and Industry. It was registered as a Savings and Credit Co-operative Society under the co-operative societies Act, CAP 490 on 31st December, 1990 and started operations in 1991.
After receiving savings and deposits from members and also advancing credit to them, it was licensed to operate F.O.S.A in 2006 where it opened its first branch in Nyeri to offer banking services. Currently the SACCO has over 10 branches including Nairobi and Thika.

Biashara SACC concentrates its services and products on business-minded people including but not limited to, farmers, employees, and employers, market traders, women groups, etc

  1. Ukulima SACCO

Ukulima Sacco is a National Sacco in Kenya with its Headquaters in Nairobi and FOSA Branch Network in Kisumu, Mombasa, Eldoret Embu ,Nakuru and Kisii . From a humble beginning in 1972 Ukulima Sacco was registered as a Co-operative Savings and Credit Society and started operation under Certificate of registration number CS2026.

The Saco membership is open to salaried employees, Business community, Chamas, corporate Bodies and Kenyans living in the Diaspora. Over the years, the Sacco has undertaken continuous transformation process geared to enhance its growth, efficiency and customer experience. The Society is ISO Certified, a clear indication of its commitment to provide quality service to its valued members.


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