Top 17 Best SACCOs in Kenya For Savings , Investments And Loans 2024 (Number 1 Guide)

Discover the top SACCOs in Kenya for 2024, offering the best savings and investment options. Your guide to securing, profitable financial growth with leading SACCOs

Feb 6, 2024 - 18:22
Feb 6, 2024 - 19:01
Top 17 Best SACCOs in Kenya For Savings , Investments And Loans 2024 (Number 1 Guide)
Top 17 Best SACCOs in Kenya For Savings , Investments And Loans 2024 (Number 1 Guide)

In the heart of Kenya's vibrant economy lies a financial cornerstone vital for both individual and communal growth: Savings and Credit Cooperative Organizations (SACCOs). As we enter 2024, SACCOs continue redefining the landscape of savings and investments, offering a blend of traditional values and modern financial solutions. These cooperative ventures stand not just as mere financial institutions but as beacons of collective economic empowerment, fostering a culture of savings, providing affordable credit, and delivering impressive dividend payouts. The appeal of SACCOs in Kenya is undeniable, with their ability to offer higher returns on savings compared to conventional banking methods, making them an attractive option for Kenyans from all walks of life.

Why, then, should one consider joining a SACCO in Kenya? The reasons are manifold. Beyond the promise of better savings, interest rates, and loan terms, SACCOs embody a principle of mutual assistance where members benefit from shared growth. The financial year 2024 witnesses a landscape where these organizations not only promise but deliver on their potential to uplift their members' economic status. With a focus on inclusivity, SACCOs in Kenya now cater to a broad spectrum of the population, offering specialized financial products that cater to diverse needs, from agriculture to real estate and from the informal sector workers to corporate employees. As we delve deeper into the top 15 SACCOs for savings and investment in Kenya, our guide aims to inform and empower you to make choices that align with your financial goals, backed by the trust and reliability these institutions have built over the years.

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Understanding SACCOs in Kenya

What is a SACCO?

A SACCO, or Savings and Credit Cooperative Organization, is a member-driven financial institution where members pool their resources to provide each other with credit and savings facilities. These organizations are governed by the principle of mutual assistance, aiming to improve their members' economic and social well-being. SACCOs in Kenya are regulated under the SACCO Societies Regulatory Authority (SASRA), ensuring transparency, accountability, and security for members’ investments​​.

Benefits of Joining a SACCO

The allure of SACCOs lies in their unique blend of financial services tailored to meet their members' diverse needs. Key benefits include:

  • Higher Dividend Payouts: Unlike traditional banks, SACCOs often offer more attractive interest rates on savings and more favourable loan terms​​.
  • Access to Credit: Members benefit from more accessible access to loans, typically offered at lower interest rates than those from commercial banks.
  • Financial Empowerment: By fostering a savings culture, SACCOs empower members to plan for future financial needs and emergencies.
  • Mutual Support: SACCOs provide a platform for members to support each other financially and socially, enhancing community development.

How to Choose the Best SACCO

Choosing the right SACCO is a critical decision that requires careful consideration of several factors to ensure that your financial goals are aligned with the services SACCO offers. Here are key considerations:

  • SASRA Approval: Ensure the SACCO is registered and regulated by SASRA to guarantee the safety of your investment​​.
  • Membership Requirements: Look for a SACCO whose membership criteria you meet, and that aligns with your financial objectives, whether it's for business, personal savings, or investment purposes.
  • Dividend Payouts: Investigate the SACCO's history of dividend payouts, as this reflects the organization's financial health and profitability.
  • Financial Products Offered: Consider the range of financial products and services the SACCO offers, including savings accounts, loans, and investment opportunities.
  • Reputation and Reliability: Research SACCO's reputation, focusing on member testimonials, financial performance, and its history of stability and growth.

Top 15 SACCOs for Savings and Investment

In Kenya, the landscape of Savings and Credit Cooperative Organizations (SACCOs) is rich and diverse, offering numerous options for savings and investment. Each SACCO comes with its unique set of benefits, membership requirements, and financial products. In 2024, these top 15 SACCOs have distinguished themselves through their service delivery, financial performance, and contribution to members' economic well-being. Here's everything you need to know about each of them.

1. Nyati SACCO

Nyati SACCO has a membership exceeding 33,000 and a solid financial base, boasting assets totalling Ksh 4.7 Billion. It appeals to members with its range of over 20 financial products, including a loan portfolio of Ksh 3.63 Billion. New members are welcomed with a registration fee of Ksh 500 and must make a minimum monthly deposit of Ksh 1,800, alongside a benevolent fee of Ksh 240​​.

Nyati SACCO Kenya can be contacted through the following channels:

  • Address: Odyssey Plaza 2nd Floor, South B, Mukoma Rd; P.O. Box 7601 – 00200 Nairobi, Kenya
  • Phone: Pilot Line – 0111 050 690; Safaricom – 0710 567 582 / 0711 593 190; Orange – ...
  • Website:

2. Magadi SACCO

Initially catering to Magadi Soda Company employees, Magadi SACCO has expanded its reach to welcome members from all sectors. With a registration fee of Ksh 2,000 and a minimum capital share of Ksh 20,000, it offers attractive dividends of 20% on share capital and 14% on members’ savings​​.

Magadi SACCO Kenya can be contacted through the following channels:

3. Tower SACCO

Tower SACCO, originally for primary school teachers, now serves a wider audience, including defense and hospital workers. It celebrated a 13% interest rate on members' deposits and a 20% dividend on share capital. The SACCO requires a joining fee of Ksh 500 and a minimum share contribution of Ksh 10,000​​.

You can contact Tower SACCO Kenya through the following channels:

  • Address: Tower SACCO Plaza, along Olkalou-Nakuru Road, Olkalou, Kenya. P.O Box 259-20303 Olkalou.
  • Phone: +254 792 333 111
  • Email: [email protected]
  • Website: Tower SACCO

4. Mombasa Port SACCO

A tier 1 licensed deposit-taking SACCO, Ports SACCO offers a 20% dividend payout rate on share capital, catering to a wide range of members, including those in the diaspora​​.The Sacco offers a range of services, including savings, credit, and investment opportunities. Ports Sacco has projected an estimated income of Sh1.66 billion for the year 2024, indicating its significant scale of operations and financial impact. The Sacco also provides a mobile application for its members to access various services, such as transactions and withdrawals.

Ports SACCO Kenya can be contacted through the following channels:

  • Address: Ports Sacco Plaza, Mwakilingo Road, off Moi Avenue, Mombasa
  • Phone: +254 111 173 000
  • Email: Not available
  • Website:

5. Hazina SACCO

With a legacy dating back to 1971, Hazina SACCO serves over 70,000 members across its 8 branches, offering competitive interest rates averaging 10.9% p.a. on savings​​.

The contacts for Hazina SACCO Kenya are as follows:

  • Address: Hazina Sacco Plaza, Kibera Road Off Ngong Road, Behind Shell Petrol Station, Nairobi
  • Phone: 020-2719098, 020-2722106, 020-2428634, 0701-819685, 0701-820219, 0735-926900
  • Email: [email protected], [email protected]
  • Website: Hazina SACCO

6. Wanandege SACCO

Targeting the aviation sector, Wanandege SACCO has grown its membership to over 10,000 since its inception in 2001, providing competitive interest rates of 10.2% p.a. on savings​​.Wanandege SACCO Kenya can be contacted through the following channels:

  • Address: Wanandege Plaza, Off Old North Airport Road, Opposite Embakasi Police Station, Embakasi Village, Nairobi
  • Phone: +254 (0) 20 800 0000, +254 (0) 20 800 0001, +254 (0) 20 800 0002
  • Email: [email protected]
  • Website: Wanandege SACCO

7. Harambee SACCO

Harambee Sacco is a well-established savings and credit cooperative in Kenya. It offers a wide range of financial products and services, including savings, credit, and investment opportunities. The Sacco has two major divisions, BOSA and FOSA, and has expanded its operations to various locations in Kenya, such as Mombasa, Nakuru, Eldoret, and Kisumu.Harambee SACCO, with a broad membership base from various government sectors, boasts an asset base of 37.01 billion, highlighting its significant role in the financial sector​​.ou can contact Harambee SACCO Kenya through the following channels:

  • Office Address: Harambee Coop Plaza, Haile Selassie Avenue, Nairobi
  • Phone: +254 709 943 000
  • Email: Not available
  • Website: Harambee SACCO
  • Working Hours: Monday to Friday, 8am to 5pm

8. Trans Nation SACCO

Trans Nation SACCO, known for its high dividend payouts, has a membership of over 37,000 in BOSA and 75,000 accounts in FOSA, emphasizing its widespread appeal​​.

9 . Sheria SACCO

Sheria SACCO Society Ltd is a well-established Savings and Credit Cooperative Society in Kenya, formally registered in 1972. It is regulated by the Ministry of Cooperatives and has a growing membership of over 10,000 members from various sectors, including the AG chambers, government ministries, business persons, and individuals above the age of 18 with an income. Catering to the legal profession, Sheria SACCO offers a dividend payout rate of 16%​​​​.

Sheria SACCO Kenya can be contacted through the following channels:

10. Kenya Police SACCO

Kenya Police SACCO, established on 20th November 1972, has grown significantly from its initial 690 members to more than 63,450. It is the third-largest deposit-taking SACCO in Kenya, boasting an asset base of Ksh 39.05 billion. The SACCO extends its membership beyond police officers to civil servants, salaried employees, and the broader business community. Known for its exemplary management and performance, Kenya Police SACCO offers a range of savings and loan products tailored to meet the needs of its diverse membership base. Members enjoy favourable interest rates on loans, high annual dividends, and access to affordable land and property through SACCO's initiatives​​​​​​. The Kenya Police SACCO can be contacted through the following channels:

11. Yetu SACCO

Yetu SACCO, initially known as South Imenti Tea Growers SACCO, has significantly expanded its membership and service offerings since its inception. With an asset base of about Ksh 5.7 Billion and more than 59,000 active members, Yetu SACCO focuses on mobilizing savings, offering affordable credit, and combating financial exploitation. SACCO's dividend on share capital rate stood at 18% at the end of 2022, reflecting its strong financial performance and member-focused approach​​.

Yetu SACCO Society Ltd can be contacted through the following channels:

  • Address: Ground Floor, Magamano Building, Lagos Rd, Nairobi, Kenya
  • Phone: 0724114444, +254 64 5051399
  • Email: [email protected]
  • Website: Yetu SACCO

12. Unaitas SACCO

Unaitas SACCO is a prominent deposit-taking Savings and Credit Cooperative Society (SACCO) in Kenya. It was registered in 1993 under the Cooperatives Act and is licensed by the Sacco Societies Regulatory Authority (SASRA). Unaitas has grown to become the largest SACCO in Africa in terms of membership. The SACCO offers a wide range of financial products and services, including savings and credit facilities. It has been a pacesetter in the SACCO industry, being the first SACCO to automate its operations and open its common bond.

Unaitas SACCO Society Ltd can be contacted through the following channels:

  • Phone: +254 202 677988, +254 721244139
  • Website: Unaitas SACCO
  • Address: Cardinal Otunga Plaza, Cardinal Otunga road, Nairobi
  • Email: [email protected]
  • P.O Box: 38721-00100 Nairobi, Kenya

13. Safaricom SACCO

Safaricom Sacco Ltd is a well-established savings and credit cooperative society in Kenya. It is open to corporates, individuals introduced by Sacco members, SMEs, small Saccos, and Chamas. The Sacco offers a mobile application called SafCIRI, available on both the Google Play Store and Apple Store, as well as a USSD code (*345#) for convenient access to its services. Members receive returns on their contributions and shares at the end of every financial year based on the Sacco's performance. Rapidly growing, Safaricom SACCO caters to employees and business partners of Safaricom, with an asset base hitting 10 billion in 2022​​.

Safaricom SACCO Kenya can be contacted through the following channels:

  • Address: Westlands Safaricom Care Centre (SCC) First Floor, P.O.Box 2392-00606, Sarit Center, Nairobi
  • Phone: (+254) 0111 222 226, (+254) 0111 222 227
  • Email: [email protected]
  • Website: Safaricom SACCO

14. Kenya Bankers SACCO

Kenya Bankers Sacco is a well-established Savings and Credit Cooperative Society in Kenya, registered on 14th February 1975 to initially serve employees in the banking sector. The Sacco provides a range of financial products and services, including savings and credit facilities. It has a growing membership and is committed to providing quality and dynamic financial solutions to its members and the community.The contact information for Kenya Bankers SACCO is as follows:

15. Biashara SACCO

Biashara Sacco Society Limited is a savings and credit cooperative society in Kenya that was formed by members of the business community. The Sacco offers a range of financial products and services, including loans, insurance, deposit and withdrawal services, ATM services, mobile banking services, and agency banking services. Biashara Sacco has a website where members and potential members can access information about its products and services. Biashara SACCO Kenya can be contacted through the following channels:

16. Bandari SACCO

Similar to Mombasa Ports SACCO, Bandari SACCO was established to serve port employees but now welcomes individuals and groups from outside the ports. With dividends on share capital and members' savings at 18% and 11.5% respectively, as of December 2022, Bandari SACCO demonstrates its commitment to providing competitive returns to its members. The SACCO has a joining fee of Ksh 1,000 and a minimum monthly contribution of Ksh 1,500, making it accessible to a wide range of members​​.

Bandari SACCO Kenya can be contacted through the following channels:

  • Address: Bandari Sacco Plaza, Moi Avenue, Mombasa, Kenya
  • Phone: (+254) 700 192355, (+254) 41-2316685, (+254) 724-002525, (+254) 735-336685
  • Email: [email protected]
  • Website: Bandari SACCO

17. Olin SACCO

Olin SACCO, a standout in Kirinyaga County, has shown impressive growth since its establishment in 1976. Winning the 2023 Ushirika Day Awards, Olin SACCO has expanded to more than 25,000 members and 10 branches across Kenya. It caters to a diverse membership, including public servants, private sector employees, and the business community. The SACCO's dividend payout rate was 17.5% at the end of 2022, showcasing its financial strength and commitment to member returns​​.

These SACCOs represent the best of what Kenya has to offer in terms of cooperative financial institutions. They provide not just a platform for saving and borrowing, but also a community for financial empowerment and growth. Whether you're looking for high dividend payouts, flexible loan terms, or a supportive community to help you achieve your financial goals, these SACCOs have something for everyone. As you consider your options, remember that the best SACCO for you is one that aligns with your financial needs and goals, providing a pathway to economic prosperity and stability.

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How to Join and Invest in a SACCO

Joining a Savings and Credit Cooperative Organization (SACCO) in Kenya is a strategic move towards financial empowerment and independence. With the diverse options available, becoming a member of a SACCO can be a seamless process, provided you follow the right steps. 

Step 1: Fill out the Application/Membership Joining Form

The journey to becoming a SACCO member begins with the application. Prospective members are required to fill out an application or membership joining form. This form is usually available at the SACCO's office or on its official website. The application form seeks to gather your personal details, financial background, and your investment intentions​​.

Step 2: Submit the Necessary Documents

After filling out the application form, the next step involves submitting the required documents. Typically, SACCOs in Kenya require a copy of your National ID or Passport and a copy of your Kenya Revenue Authority (KRA) PIN certificate. These documents are essential for verifying your identity and facilitating your financial transactions with the SACCO​​.

Step 3: Pay the Joining Fee

Joining a SACCO often involves paying a one-time registration or joining fee. This fee varies from one SACCO to another but generally ranges between Ksh 500 and Ksh 2,000. The joining fee is a crucial part of your application process as it signifies your commitment to becoming an active member of the SACCO​​.

Step 4: Wait for Approval to Start Saving

Once you've submitted your application form, necessary documents, and joining fee, the next step is to wait for approval from the SACCO. Approval times can vary; if you register in person, approval can be immediate, but online registrations may require you to wait a day or so. Approval signifies that you are now a member and can start participating in the SACCO's savings and investment programs​​.

Step 5: Make Minimum Monthly Contributions

Being a SACCO member comes with the responsibility of making regular savings contributions. Each SACCO sets its minimum monthly contribution, which you must meet to remain an active member and benefit from the SACCO's services. These contributions are fundamental to the SACCO's operation, as they pool resources to offer loans and dividends to members​​.

FAQs about SACCOs in Kenya

Q1: Can anyone join a SACCO in Kenya?

Yes, anyone can join a SACCO in Kenya, provided they meet the specific SACCO’s membership requirements, which may include employment in a certain sector, residence in a particular area, or payment of a joining fee​​.

Q2: How safe is my investment in a SACCO?

Investments in SACCOs regulated by the SACCO Societies Regulatory Authority (SASRA) are generally considered safe. SASRA ensures that SACCOs adhere to strict financial management and operational standards to protect members' investments​​.

Q3: What is the minimum contribution required for SACCO members?

The minimum monthly contribution varies from one SACCO to another. It is essential to consult the specific SACCO you're interested in joining for their set minimum contributions​​.

Q4: How do I access loans from a SACCO?

To access loans, members must typically have contributed for a specific period, often three to six months, and meet the SACCO’s borrowing criteria, which includes the ability to repay​​.

Q5: Can I withdraw my savings from the SACCO?

Yes, members can withdraw their savings under the conditions specified by their SACCO’s policy. This usually involves submitting a withdrawal application and may be subject to certain restrictions or penalties​​.

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SACCOs in Kenya offer a unique blend of financial services that cater to a wide range of personal and investment needs. From fostering a culture of savings to providing affordable credit facilities, SACCOs have become a cornerstone of Kenya's economic empowerment strategy. The top 15 SACCOs highlighted in this guide exemplify the sector's diversity and the significant role these institutions play in promoting financial inclusivity.

As we look towards the future, the importance of conducting due diligence before joining a SACCO cannot be overstated. Ensuring the SACCO is SASRA-regulated, understanding the membership requirements, and familiarizing yourself with the dividend payout history are crucial steps in safeguarding your investment and maximizing your financial growth.

In conclusion, SACCOs in Kenya are more than just financial institutions; they are vibrant communities committed to mutual economic success. By joining a SACCO, you're not just saving and investing; you're becoming part of a collective journey towards financial stability and growth. As you embark on this journey, let this guide serve as your roadmap, leading you to make informed decisions that align with your financial goals and aspirations.

Joseph Richard Richard is a distinguished contributor to, where he leverages his extensive background in finance, business, and technology to provide insightful guides and analyses. With over a decade of experience in Kenya's dynamic market, Joseph has become a trusted voice in helping individuals navigate complex topics with ease. His work, recognized for its clarity and reliability, spans critical reviews, educational content, and comprehensive guides on making informed decisions in finance and business. Joseph's commitment to empowering Kenyans through accessible information underscores his reputation as a dependable and authoritative figure in the industry