7 Best SACCOs in Kenya for Savings in 2023

6 min readJun 7, 2023

Finding the Best SACCOs in Kenya is a common aspiration for individuals seeking financial stability and effective savings strategies. With numerous SACCOs in the country, navigating the options and identifying the most reliable and reputable ones can be challenging.

Your choice can significantly impact your financial security and progress toward your goals. When you opt for a reputable SACCO with demonstrated reliability, stability, and integrity, you can enjoy peace of mind, knowing that your hard earned money is safe. Read on for the 7 best SACCOs in Kenya for savings.

1. Harambee SACCO Society

Harambee SACCO, established in 1970 by low-income earners and subordinate staff at the president’s office, has become one of Kenya’s largest and most influential SACCOs.

With an impressive asset base of over Ksh. 19 billion and a membership exceeding 80,000, Harambee SACCO has established itself as a trusted financial institution.

Membership at Harambee SACCO is open to all individuals, and interested individuals must meet the membership policy requirements to qualify. Once declared a member, individuals gain access to a wide range of financial services and benefits.

One notable advantage for members is the opportunity to access loans. Harambee SACCO allows members to borrow up to three times their savings, providing a substantial financial boost. The repayment period for these loans is set at a maximum of four years, ensuring manageable repayment terms for borrowers.

2. Stima SACCO

Stima Sacco was established in 1974 and has experienced remarkable growth. With its strong track record, SACCO has become a trusted financial institution for individuals seeking reliable savings and credit solutions. Stima Sacco operates five branches strategically located across the country, ensuring accessibility to its services.

Stima SACCO has attractive loan offerings. Members can borrow up to two times their savings, providing a substantial financial boost to pursue their goals.

What sets Stima Sacco apart is its low-interest rates on loans, as low as 1% per month with a reduced balance. This favorable interest rate structure allows members to enjoy affordable loan repayments while ensuring financial stability.

Furthermore, SACCO provides flexible loan repayment terms. Members can extend the loan periods for up to 60 months, providing ample time for repayment without undue financial strain. This extended loan tenure ensures members can manage their finances effectively and meet their obligations without excessive pressure.

The presence of Stima Sacco branches in key locations such as Nairobi, Mombasa, Kisumu, Eldoret, and Olkaria demonstrates SACCO’s commitment to serving members nationwide.

This widespread presence enhances accessibility to their services, allowing individuals from different regions to benefit from Stima Sacco’s reliable and reputable offerings.

3. Kenya Police SACCO

The Kenya Police SACCO, established in 1972 to cater to the financial needs of Kenya Police Force personnel, has emerged as one of the best SACCOs in Kenya.

Over time, the SACCO has evolved to welcome all Kenyans, regardless of their profession, and has amassed a membership of over 52,000 individuals.

One notable aspect of the Kenya Police SACCO is its loan offerings. Members can borrow up to three times their investment, providing substantial financial support to pursue their endeavors.

While the SACCO’s loan interest rates may be slightly higher than other institutions, the Kenya Police Sacco is highly regarded for its excellent services and dedication to serving its investors.

The loan repayment period for Kenya Police Sacco is set at 48 months, allowing members ample time to repay their loans in a manageable manner.

This extended tenure ensures borrowers meet their financial obligations without undue strain, providing a comfortable and sustainable repayment experience.

The Kenya Police Sacco’s headquarters is strategically located in the Ngara area of Nairobi, ensuring easy access for members seeking its services. This centralized location facilitates convenience and streamlined operations for individuals in the Kenya Police Force and other members of the SACCO.

4. Mwalimu National SACCO

Mwalimu National SACCO, named after the Swahili word for “teacher,” is a prominent SACCO in Kenya that primarily caters to the financial needs of teachers and employees in the education sector.

With a strong focus on serving educators, Mwalimu National SACCO has established itself as a trusted financial institution offering various services and benefits.

The SACCO is known for its member-centric approach and has gained popularity among teachers nationwide. Mwalimu National SACCO provides various financial products and services tailored to meet the unique needs of its members, including savings accounts, loans, investments, and insurance solutions.

Savings accounts offered by Mwalimu National SACCO provide teachers with a secure platform to cultivate a habit of regular saving. Members can take advantage of competitive interest rates and flexible savings options, enabling them to build a solid financial foundation for their future.

5. Unaitas SACCO

Unaitas SACCO, initially established as a cooperative society called Muramati in Murang’a County in 1993, has experienced significant growth and expansion. Today, Unaitas SACCO has established its presence in various parts of the country and has transitioned into a deposit-taking SACCO.

Unaitas SACCO’s focus on business investments has gained recognition, making it particularly attractive to small-scale investors. The SACCO understands the unique financial needs of entrepreneurs and offers tailored services and products to support their ventures.

Members can borrow up to three times their savings, providing substantial financial leverage to pursue their business or personal goals. The SACCO’s loan interest rates range between 1% and 1.5% per month with a reduced balance, ensuring affordability for borrowers.

Unaitas SACCO offers extended loan repayment periods of up to 72 months to provide further flexibility. This extended tenure allows members to manage their loan repayments comfortably, aligning with their cash flow and minimizing financial strain.

6. Afya SACCO

Afya SACCO is a reputable SACCO in Kenya that focuses on serving individuals in the healthcare sector. Established to cater to the unique financial needs of healthcare professionals, Afya SACCO has emerged as a trusted financial institution providing tailored services and benefits to its members.

Savings accounts provided by Afya SACCO offer healthcare professionals a secure platform to build their financial reserves. Members can take advantage of competitive interest rates and flexible savings options, allowing them to cultivate a habit of regular saving and create a solid financial foundation for their future.

Afya SACCO is well-regarded for its accessible and affordable loan facilities. The SACCO offers loans to its members based on their savings and creditworthiness, ensuring that healthcare professionals can access funds to meet their various financial requirements.

These loans are available at competitive interest rates, providing members with favorable terms for borrowing and manageable repayment options.

7. Metropolitan National SACCO

Metropolitan National Sacco is a well-established SACCO in Kenya that has gained prominence for its comprehensive range of financial services and commitment to member satisfaction. The SACCO has built a solid reputation by providing tailored solutions to meet the diverse needs of its members.

Metropolitan National SACCO offers various financial products and services, including savings accounts, loans, investments, and insurance. These offerings empower individuals and help them achieve their financial goals.

Savings accounts offer members a secure platform to cultivate a culture of saving. With competitive interest rates and flexible savings options, the SACCO supports its members in building a strong financial foundation and ensuring long-term financial security.

In addition, the SACCO excels in providing accessible and affordable loan facilities. Members of the SACCO can access loans based on their savings and creditworthiness.

The SACCO offers competitive interest rates and flexible repayment terms, ensuring members can obtain the funds they need while maintaining manageable repayment obligations.

Conclusion

Finding the best SACCOs in Kenya is a desire shared by many individuals seeking to secure their financial future and achieve their goals. Joining SACCOs promotes financial discipline, encourages regular saving habits, and fosters a culture of financial responsibility and inclusivity.

Moreover, SACCOs often prioritize financial literacy programs, empowering their members with the knowledge and skills to make informed financial decisions.

By joining a reputable SACCO, you can save and invest wisely and become part of a community that shares your financial ambitions and supports your path to success.

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