AIBK Sacco Paybill Number 955 901(Make Payments via Mpesa)

Learn how to pay AIBK Sacco through Mpesa and streamline your financial transactions. Discover the convenience and simplicity of paying AIBK Sacco with Mpesa.

Oct 31, 2023 - 20:50
Oct 31, 2023 - 20:51
AIBK Sacco Paybill Number 955 901(Make Payments via Mpesa)
AIBK Sacco Paybill Number 955 901(Make Payments via Mpesa)

AIBK Sacco, short for the Association of Insurance Brokers of Kenya Savings and Credit Cooperative Society Limited, was officially launched on the 15th of November 2003 at the College of Insurance in Nairobi. Founded by visionary members of the Association of Insurance Brokers of Kenya, this cooperative society has consistently strived to promote thrift, encourage savings, and provide accessible loans to its members for both providence and productive purposes.

The AIBK Sacco Journey

Before we delve into the specifics of making payments via Mpesa to AIBK Sacco, let's take a brief journey through the history and objectives of this esteemed institution.

A Noble Inception

The idea to establish AIBK Sacco was born from the visionary minds of the AIBK board members. It was nurtured into reality under the guidance of Mr. Gideon Mugunyu, who chaired the technical sub-committee. Ms. Anne Rama, the then AIBK Chairperson, provided unwavering support to bring this cooperative society to life. The result? AIBK Sacco LTD was officially launched, heralding a new era of financial empowerment on the 15th of November 2003.

Membership Growth and Performance

The journey began with the enrollment of members in 2004 and the initiation of loan services in 2005. Despite its humble beginnings, AIBK Sacco witnessed continued growth in both membership and performance. The cooperative's dedication and hard work culminated in the declaration of their first dividend during the financial year 2007, a testament to their commitment to the economic well-being of their members.

The Heart of Operations

AIBK Sacco's operations are centralized at its secretariat, where all records are meticulously maintained, and transactions are efficiently handled. The administration plays a pivotal role in ensuring that members' accounts and statements are always up-to-date and loan applicants receive prompt updates on the progress of their applications.

Objectives that Drive AIBK Sacco

AIBK Sacco's core objectives serve as the compass that guides its operations. These objectives not only reflect the cooperative's commitment to its members but also underline its dedication to financial responsibility and liquidity.

  1. Promoting Thrift Among Members: AIBK Sacco encourages its members to cultivate a culture of thrift, emphasizing the importance of saving for a secure financial future.
  2. Savings and Loans: The cooperative fosters savings habits among its members while offering loans tailored to their financial needs and purposes.
  3. Creating Financial Resources: AIBK Sacco generates funds through shares, deposits, and loans to benefit its members, ensuring they have the required financial resources.
  4. Maintaining Liquidity: Ensuring healthy liquidity is essential for financing operations and delivering its promises to members.
  5. Investment Opportunities: The cooperative explores investment avenues that increase its surplus, benefiting its members.

Products and Services Offered by AIBK Sacco

AIBK Sacco provides a range of financial products and services designed to cater to the diverse needs of its members. These include:


Members have the opportunity to access loans from AIBK Sacco. The maximum loan limits and durations are as follows:

  • Normal/Development Loan: Up to Kshs 750,000.00 with a maximum duration of 36 months.
  • Emergency Loan: Up to Kshs 100,000.00 with a maximum duration of 12 months.
  • Education Loans: Up to Kshs 100,000.00 with a maximum duration of 12 months.
  • Household Loans: Up to Kshs 75,000.00 with a maximum duration of 12 months.
  • Premium Finance Loan: Up to Kshs 75,000.00 with a maximum duration of 12 months.
  • Medical Cover Loan: Up to Kshs 65,000.00 with a maximum duration of 12 months.
  • Re-organization Loan: Up to Kshs 300,000.00 with a maximum duration of 36 months.

It's important to note that while there's a 60-day waiting period for Normal/Development loans, AIBK Sacco has a track record of expeditiously processing loans within 30 days. However, loans are only granted with sufficient and qualified guarantees.

To ensure smooth operations, the cooperative has established specific deadlines for various activities:

  • Remittance of SACCO Deductions by Employer: 5th of every month.
  • Submission of Loan Application Forms: 10th of every month.
  • Release of Loan Cheques to Members: 15th of every month.

Holiday Saving Plan

AIBK Sacco offers a voluntary saving plan that allows members to contribute separately, in addition to their monthly deposits, towards a holiday fund. The amount saved can be withdrawn as a lump sum at the end of the year without incurring any interest charges. Members have the flexibility to decide whether to continue with the plan or not. The minimum monthly contribution for this fund is Kshs. 500/-.

KUSCCO Housing Fund

Through AIBK Sacco, members can join the Kenya Union of Savings & Cooperatives Ltd (KUSCCO) housing fund. This fund empowers members to own their shelter, whether they opt for readily built homes or choose to finance the construction costs. Housing is a fundamental human need, and the demand for housing in urban areas has far exceeded available facilities. AIBK Sacco believes in empowering its members to mobilize funds for constructing their own homes, thus contributing to alleviating the housing shortage in urban areas.

Making Payments to AIBK Sacco via Mpesa

Now that you have a comprehensive understanding of AIBK Sacco's history, objectives, and the array of products and services it offers, let's explore the seamless process of making payments to the cooperative using Mpesa.

Step 1: Select Safaricom

First, ensure you have a Safaricom line and sufficient Mpesa funds. This service is exclusive to Safaricom subscribers.

Step 2: Go to M-PESA

Access your Mpesa menu on your Safaricom line. You can do this by dialing *123#.

Step 3: Select Lipa na Mpesa

Navigate to the "Lipa na Mpesa" option from the menu. This option is specifically for making payments and transactions.

Step 4: Select Paybill

Choose the "Paybill" option from the submenu. Paybill is the mode you'll use to transfer funds to AIBK Sacco.

Step 5: Enter AIBK Sacco Paybill Number 955 901

You'll be prompted to enter the Paybill number for AIBK Sacco. The correct Paybill number for AIBK Sacco is 955 901. Ensure accuracy to avoid any payment mishaps.

Step 6: Enter Your Membership Number for Account Number

Next, you must enter your membership number as the account number. This ensures that your payment is correctly allocated to your account.

Step 7: Enter the Amount You Wish to Send

Input the specific amount you intend to send to AIBK Sacco. Double-check for accuracy to avoid any discrepancies.

Step 8: Enter Your Personal Mpesa PIN

To authorize the transaction, enter your personal Mpesa PIN. This step ensures the security of your transaction.

Step 9: Confirm the Information

Review all the details you've entered, including the Paybill number, account number, amount, and PIN. Confirm that they are accurate before proceeding.

Step 10: Send

Once you've verified all the information and are satisfied with the details, send the payment. You will receive a confirmation message from Safaricom indicating that your money has been successfully sent to AIBK Sacco.

Contact AIBK Sacco

Should you require further information or assistance, feel free to reach out to AIBK Sacco at the following contact details:

READ ALSO: List of All M-Pesa Paybill Numbers for All Saccos in Kenya

In Conclusion

AIBK Sacco's journey from its inception to its current status as a reliable financial institution is a testament to its commitment to its members. By offering a range of financial products and services, including loans, savings plans, and access to housing funds, AIBK Sacco has consistently prioritized the economic well-being of its members. Making payments to AIBK Sacco via Mpesa is seamless, ensuring that members can conveniently manage their financial transactions. By following the outlined steps, you can contribute to your savings, repay loans, or invest in your financial future with ease.

Joseph Richard Joseph is a graduate of Mathematics and Computer Science (Applied Option). With expertise in Technology and Finance, he brings his knowledge to the field, demonstrating an authoritative understanding of these interrelated areas. Joseph is pursuing a Master's in Software Engineering, further expanding his skill set.