Savings and Credit Cooperative Organizations (SACCOs) are integral to Kenya’s financial landscape, offering affordable loans, promoting savings, and distributing dividends to their members. As of 2023, the sector has seen significant growth, with total assets reaching Ksh 971 billion and membership increasing to 6.84 million.
Here is an in-depth look at the 12 best SACCOs in Kenya, focusing on their asset base, employee welfare initiatives, dividend payouts, and other notable strengths:
1. Mwalimu National SACCO
- Assets: Ksh 66.43 billion
- Membership: Over 100,000 educators
- Dividends: Up to 14% in recent years
- Strengths: Financial literacy programs, affordable loans, and a robust branch network
- Ideal for: Teachers and education professionals seeking financial stability
Mwalimu National SACCO remains one of the Best SACCOs and the largest in Kenya and Africa, serving educators with tailored financial products and a commitment to member education.
2. Stima SACCO
- Assets: Ksh 59.15 billion
- Membership: Over 170,000 members
- Dividends: 15% on shares, 11% interest on deposits (2024)
- Strengths: Strong digital banking platform, competitive loan products, and a focus on sustainability
- Ideal for: Professionals seeking a blend of tradition and tech-savvy services
Stima SACCO has expanded beyond its initial focus on energy sector employees, offering innovative financial solutions to a diverse membership.
3. Kenya National Police DT SACCO
- Assets: Ksh 54.24 billion
- Dividends: 17% on shares, 11% on deposits (2024)
- Strengths: Tailored loan products for security personnel, land investment schemes, and a commitment to member welfare
- Ideal for: Security personnel and investors eyeing real estate
This SACCO is one of the Best SACCOs that provides specialized financial services to police officers and their families, emphasizing member welfare and investment opportunities.
4. Harambee SACCO
- Assets: Ksh 38.57 billion
- Membership: Over 80,000 members
- Dividends: 12–15% annually
- Strengths: Mortgage loans, digital banking services, and a wide range of financial products
- Ideal for: Entrepreneurs needing flexible credit for big investments
Initially serving government employees, Harambee SACCO now caters to a broader membership, offering diverse financial products and services.
5. Tower SACCO
- Assets: Ksh 23.23 billion
- Membership: Over 250,000 members
- Dividends: 20% on shares, 13% on deposits (2024)
- Strengths: Extensive branch network, strong capital base, and high dividend payouts
- Ideal for: Members seeking high returns on investments
Tower SACCO’s impressive asset growth and generous dividends make it a top choice for investors seeking substantial returns.
6. Afya SACCO
- Assets: Ksh 22.79 billion
- Dividends: Consistent payouts to members
- Strengths: Tailored financial services for healthcare professionals, commitment to member support
- Ideal for: Healthcare professionals seeking financial stability
Serving the healthcare sector, Afya SACCO has demonstrated significant asset growth, reflecting its impact on members’ financial capabilities.
7. Unaitas SACCO
- Assets: Ksh 22.70 billion
- Dividends: 10–12% annually
- Strengths: Innovative mobile and agency banking services, focus on financial inclusion
- Ideal for: Tech-savvy professionals who value convenience
Unaitas SACCO offers modern banking solutions, promoting financial inclusion through its digital platforms.
8. Imarisha SACCO
- Assets: Ksh 21.78 billion
- Dividends: 10–12% annually
- Strengths: Strong community focus, diverse loan products, and outreach to rural areas
- Ideal for: Rural entrepreneurs and broad-based investors
Imarisha SACCO’s commitment to community development and financial empowerment makes it a valuable partner for rural entrepreneurs.
9. Hazina SACCO
- Assets: Ksh 14.70 billion
- Membership: Over 25,585 active members
- Dividends: 17% on shares, 10.8% on deposits (2024)
- Strengths:
- Nationwide deposit-taking services
- Robust digital infrastructure with an online member portal
- Strategic focus on financial sustainability and operational efficiency
- Ideal for: Government employees and private sector workers seeking a stable and tech-savvy SACCO
Hazina SACCO, established in 1971, has evolved from serving the Ministry of Finance and Planning to accommodating members from various ministries, parastatals, county governments, and the private sector. The SACCO has significantly improved its ICT infrastructure, enhancing service delivery through digitization and automation. Over 12,000 members utilize the online portal for services such as viewing statements and tracking loans.
10. Safaricom SACCO
- Assets: Ksh 11.48 billion
- Membership: Over 18,000 members
- Dividends: 13% on shares, 8% on deposits (2024)
- Strengths:
- Innovative digital platforms tailored for tech-savvy users
- Mobile-based retirement savings schemes
- Competitive loan rates and flexible financial products
- Ideal for: Telecom professionals and individuals seeking modern, mobile-first financial solutions
Safaricom SACCO leverages its deep understanding of the telecommunications sector to offer customized financial products. Its emphasis on digital innovation ensures members have seamless access to services, aligning with the fast-paced nature of the industry.
11. Nyati SACCO
- Assets: Ksh 4.94 billion (2023).
- Membership: Over 16,070 active members
- Dividends: 21% on shares (2021), 11% on deposits
- Strengths:
- High dividend payouts, making it one of the top in the sector
- Diverse investment portfolio including KUSCCO, CIC, and Treasury Bills
- Hybrid member education programs combining online and physical training
- Ideal for: Security personnel and members seeking high returns and financial literacy
Nyati SACCO, originally serving security services employees, has expanded its membership and investment avenues. The SACCO’s commitment to member education and financial growth strategies has solidified its reputation in the sector.
12. Ports SACCO
- Assets: Ksh 10.54 billion (2024)
- Membership: Over 12,000 members
- Dividends: 20% on shares, 12.5% on deposits (2024)
- Strengths:
- Significant asset growth and net surplus increase of 49.5% in 2024
- Expansion strategy targeting presence in all 47 counties.
- Enhanced mobile banking platforms and services for diaspora members
- Ideal for: Individuals seeking high returns and accessible financial services across Kenya
Formerly Mombasa Port SACCO, Ports SACCO has undergone a strategic transformation, focusing on nationwide expansion and technological advancement. The SACCO’s robust financial performance and commitment to member inclusivity position it as a leading choice for investors.
These Best SACCOs exemplify financial strength, member-focused services, and consistent returns, making them top choices for individuals seeking reliable savings and credit cooperative societies in Kenya.
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