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SACCOs are financial institutions that are owned by members. They are not-for-profits organizations that operate to serve members rather than to maximize profits. On the whole, SACCOs typically offer higher savings rates, lower fees, and lower rates on loans. You may be able to join a SACCO based on where you live, where you work, where you worship, where you operate your business or your membership in an association/welfare/group.

A SACCO is a cooperative financial institution licensed by the government and owned by individual members. Today’s SACCOs remain unique financial institutions with a “not-for-profit but for service” operating philosophy.

SACCOs offer members a safe place to save and borrow at reasonable rates.

SACCOs have provided financial services for many people left unserved or underserved by traditional banking institutions.

SACCOs keep pace with the needs of their members by offering a variety of savings and credit products and services.

SACCOs encourage their members to save regularly to build economic security for themselves and their families.

In general, SACCOs offer higher savings rates, meaning that your money grows faster, and lower rates on loans, meaning that you will owe less over the lifetime of the loan. SACCOs also tend to charge less in fees and offer better interest rates on credit products.

Is a SACCO right for you?

YES, In Kenya, SACCOs are not-for-profit organizations that exist to serve their members rather than to maximize corporate profits. Like banks, SACCOs accept deposits and give loans. But as member-owned institutions, SACCOs focus on providing a safe place to save and borrow at reasonable rates. Unlike banks, SACCOs return surplus income to their members in the form of dividends.

Favorable Rates and Customer Service

Fees and loan rates at SACCOs are generally lower, while interest rates returned are generally higher, than banks and other for-profit institutions. SACCOs are democratically operated by members, allowing account holders an equal say in how SACCO is operated, regardless of how much they have invested in the SACCO.

Membership Access

Each institution decides who it will serve. In order to join a SACCOs, potential members must be part of a field of membership, which is typically based on one’s employment, business, or membership in an association or organization. SACCOs serve members of modest means SACCOs provide financial services at reasonable rates in areas that are often underserved by banks. .

Personal Service

SACCOs provide personal service designed to help members grow their savings, pay off debt, and plan for the future.

Not-for-profit Focus

SACCOs are member-owned and operated, not-for-profit organizations. This enables them to fairly price products and services as well as offer competitive interest rates.

Community Spirit

As groups with a common geographic area, workplace or other association, members often have shared interests and appreciate participating in an institution designed to help other members.

Fewer Fees

SACCOs tend to offer fewer and sometimes reduced fees for their products and services compared to those of other financial service institutions due to their not-for-profit, cooperative structure.

Expanded Services

SACCOs have been able to keep pace with the needs of their members by offering a variety of products and services in addition to savings and consumer loans, including:

  • Direct deposit
  • Financial education/counseling
  • Electronic banking
  • ATMs
  • Overdraft
  • Member business loans

Shared Income

SACCOs return surplus income to their members in the form of dividends.

Accessible to Most Kenyans

To join a SACCO, you must be eligible for membership. Members of each SACCOs share a “common bond,” such as being employed by the same employer, belonging to an organization or church, or living in the same community. Some SACCOs serve multiple groups with different common bonds. Each SACCOs determines the specific group or field of membership it will serve.


Joining is easy..
1. Bring proof of your identity
2. Bring 500 bob joining fee plus arrange to invest minimum Share Capital.
3.and Hurray you are a member start enjoying our wide range of affordable savings and credit products….

Contact us today.