Saving money in Kenya has never been more accessible, thanks to the rise of well-managed SACCOs. Whether you’re a teacher, healthcare worker, police officer, or entrepreneur, there’s a SACCO tailored for your needs. But which ones truly stand out?
Image: Choosing the right SACCO in Kenya can supercharge your savings and unlock better financial opportunities.
1. Harambee SACCO Society
Founded in 1970, Harambee SACCO is one of the oldest and most reputable SACCOs in Kenya. It boasts an asset base of over Ksh 19 billion and serves more than 80,000 members.
Members can borrow up to three times their savings with repayment terms of up to four years, making it ideal for those seeking significant financial support with flexible repayment.
2. Stima SACCO
Established in 1974, Stima SACCO serves members nationwide through branches in Nairobi, Mombasa, Kisumu, Eldoret, and Olkaria. Members can borrow up to twice their savings with interest as low as 1% per month on a reducing balance.
Loan tenures extend up to 60 months, giving members time to repay without financial strain.
3. Kenya Police SACCO
Originally created for police personnel in 1972, Kenya Police SACCO now welcomes all Kenyans. It allows borrowing up to three times your investment, with a 48-month repayment period.
Despite slightly higher interest rates, its services are top-notch and reliable.
4. Mwalimu National SACCO
This SACCO specifically supports teachers and education sector workers. It offers savings, loans, insurance, and investment services. Competitive interest rates and flexible savings plans make it a favorite among educators.
5. Unaitas SACCO
Starting in Murang’a as Muramati in 1993, Unaitas has grown into a major deposit-taking SACCO. It caters well to small-scale investors and entrepreneurs, offering loans of up to three times your savings and repayment terms up to 72 months.
Interest rates range between 1% and 1.5% per month, depending on your loan type.
6. Afya SACCO
Designed for healthcare workers, Afya SACCO offers affordable loans and competitive interest on savings. It’s an excellent option for medical professionals looking to manage personal or business finances effectively.
7. Metropolitan National SACCO
This SACCO provides a wide variety of financial services including loans, savings, insurance, and investments. Known for personalized service and competitive interest rates, it’s a great all-rounder for those seeking both savings and credit options.
Joining a SACCO in Kenya isn’t just about saving—it’s about building a better financial future. The SACCOs listed above are not only trustworthy but also offer competitive loan terms, flexible savings options, and valuable financial literacy programs.
Whether you’re starting your career or planning for retirement, choosing the right SACCO could be one of the smartest money moves you ever make.
