Stima Sacco

10 of the best saccos in Kenya in terms of loans and dividend payments

With the interest rates on bank loans on the rise, Saccos have become a popular way for Kenyans to save and take loans. This has seen the membership of Saccos rise over the years.

Essentially, Savings And Credit Co-operative (Sacco), is an association that is authorized to take deposits and lend to its members. It’s governed by Sacco’s bylaws that state its objectives, share capital, structure and membership among others

The government is in the process of implementing a framework which will allow savings and cooperative societies (Saccos) to lend to one another in six months. This platform will be similar to the inter-bank market run by commercial banks and will help to stabilize the sector even further and help it to grow.

Here are some of the best saccos in Kenya.

Stima Sacco

Stima Sacco was initially set up in 1974 to cater to the East African Power and Lighting Company employees but has since opened its membership to include all Kenyans.

So far, it has six branches, that is Mombasa, Nairobi, Nakuru, Kisumu, Olkaria and Eldoret. It offers a dividend payment of 14% per share on fully paid shares.

It also offers loans of up to 3 times on the deposit made at an interest rate of 12% interest rate per annum and a period of up to 60 months.

Kenya Police Sacco

The Sacco was established in 1972 with a membership of 690, over the years, its membership has grown significantly, and it boasts more than 63,009 members and an asset base of Kshs.39 billion. It was initially meant for members of Kenya Police but it is now open to all.

The sacco offers members loans of upto 3 times their savings and a repyement period of 48 months at an interest rate of 13.5 % pa.

Waumini Sacco

Waumini Sacco was established by the Catholic Church to cater to its faithful but has since opened its membership to all Kenyans.

The sacco lends up to three times the value of one’s savings at an interest rate of 12.5% per anum for a period of 5 years.


Safaricom Sacco

Safaricom Sacco was founded in 2001 to serve Safaricom employeees. membership includes family members of Safaricom employees and individuals introduced by Sacco members and employees of other corporates admitted as per the Membership policy.

Members are required to contribute Ksh 3,334 towards their share capital of Kshs. 40,000. This Sacco pays dividends on share capital to all the members who have met the statutory minimum shares.

Sheria Sacco

Sheria Sacco was formally registered in 1972 and its membership has been growing over the years to reach more than 10,000 members. The members are pooled from the Judiciary, AG chambers, different government ministries, private sector employees, and any Kenyan above 18 years with an income.

The minimum share capital for each member is Kshs. 20,000, which earns dividends for the member. The share capital is non-withdrawable but transferable upon the termination of membership.

Mhasibu Sacco

Mhasibu Sacco was founded by the Institute of Certified Public Accountants and is driven by its mission to mobilise savings and economically empower members to attain financial independence. Over the years, it has grown its membership to reach over 500,000 members, however, its membership is limited to people in the accounting industry.

The deposit contribution is a minimum of Ksh 1,600 per month and the minimum share capital is Ksh 10,000. You can obtain a loan of up to 4 times the deposit with a repayment plan of 14% interest per annum on a reducing balance and a 72-month period.

Amica Sacco

Amica was started in 1966 by coffee farmers in Muranga but later opened its doors to serve all sectors. The Sacco rebranded in 2016 and is currently operating as Amica Savings & Credit, or simply as Amica Sacco. The Sacco has 18 branches and more than 360 agents spread across Nairobi, Kiambu, and Muranga Counties.

Members are able to access loans of up to ten (10) times their savings, popularly known as Investa. The loans are repayable for up to 5 years and the interest is charged from as low as 1% per month on reducing balance.

Mwalimu Sacco

Mwalimu Sacco was registered in 1974 to cater for interests of teachers and has grown to become of the biggest saccos in the country. Its membership includes primary school teachers, secondary school teachers, lecturers, members from the TSC secretariat, and the spouses and children of the members who are informal employment.

Members are able to access loans of up to four times their savings. The loans are repayable for up to 7 years and the interest is charged from as low as 1.17% per month on reducing balance.

Unaitas Sacco

Unaitas was was registered in 1993 to help farmers save and get loans. However, over the years, it has opened its doors to people from all walks of life. Today, it boasts over 320,000 members.

It offers loans up to 3 times your savings with a payment plan of 72 months at attractive interest rates. The Sacco pays dividends from a net surplus at the end of a financial year.

Hazina Sacco

Hazina Sacco was created by government employees but opened its membership to everyone including chamas and corporates and today, it has over 18,000 active members.

The Sacco gives loans of up to three and a half times the value of the member’s savings with a repayment plan of 72 months with 1% per month interest.