Top 5 leading SACCOs in Kenya in terms of assets and member base

Savings and Credit Cooperative Organizations (SACCOs) play a vital role in Kenya’s financial landscape, and several stand out as leaders in terms of asset size and member base.
Leading SACCOs exemplify resilience, innovation, and commitment to their members’ financial prosperity, contributing significantly to Kenya’s cooperative movement and economic development.
Leading SACCOs in Kenya
1. Mwalimu National Sacco
Topping the list of SACCOs in Kenya with the largest assets, Mwalimu National Sacco’s performance is noteworthy. According to SASRA data, in 2022, the SACCO recorded total assets worth KSh 64.06 billion, marking a significant increase from KSh 60.6 billion in 2021. Additionally, customer deposits surged from KSh 44.29 billion to KSh 47.29 billion, while the value of gross loans rose to KSh 43.84 billion. With total income slightly increasing from KSh 7.58 billion to KSh 7.74 billion, Mwalimu National Sacco continues to demonstrate robust financial performance and growth.
2. Stima Sacco
Ranked as the second-largest SACCO in Kenya in terms of assets, Stima Sacco has also experienced substantial growth. The company’s total assets escalated from KSh 46.46 billion in 2021 to KSh 53.78 billion in 2022. Similarly, customer deposits saw a notable increase from KSh 34.21 billion to KSh 39.43 billion, with gross loans reaching KSh 45.07 billion in 2022. Stima Sacco’s income rose from KSh 6.97 billion to KSh 7.4 billion, reflecting its strong financial performance and expanding member base.
3. Kenya National Police Sacco
Established in 1972 with just 690 members, Kenya National Police Sacco has witnessed remarkable growth over the years. Boasting a membership of over 60,000, the SACCO’s earnings surged from KSh 7.04 billion in 2021 to KSh 7.94 billion. Furthermore, its assets grew from KSh 44.09 billion to KSh 48.98 billion, accompanied by an increase in customer deposits from KSh 26.02 billion to KSh 28.89 billion. Kenya National Police Sacco continues to serve its members effectively while achieving significant financial milestones.
4. Harambee Sacco
Originating from humble beginnings in 1970, Harambee Sacco has evolved into a multi-billion institution with over 80,000 members. The SACCO’s assets witnessed a marginal increase from KSh 34.62 billion in 2021 to KSh 37.01 billion in 2022. Moreover, customer deposits rose from KSh 22.54 billion to KSh 23.70 billion, and gross loans disbursed increased from KSh 24.8 billion to KSh 27.67 billion. With an income of KSh 4.79 billion, up from KSh 4.01 billion, Harambee Sacco continues to uphold its mission of financial inclusion and empowerment.
5. Afya Sacco
As one of the leading SACCOs in Kenya, Afya Sacco, founded in 1971 has grown steadily over the years, currently boasting over 40,000 members. Led by national chairperson Beatrice Mogire and national vice chairman Henry Kosgei, the SACCO’s total assets increased to KSh 20.94 billion in 2022, up from KSh 20.87 billion in 2021. Additionally, customer deposits grew from KSh 15.61 billion to KSh 15.63 billion, accompanied by a registered income of KSh 2.79 billion. Afya Sacco remains committed to serving its members and promoting financial well-being.