Top Saccos to consider for investment in 2024

Savings and Credit Cooperative Societies (Saccos) play a crucial role in bringing together individuals with similar social and financial backgrounds. In Kenya, the best-managed Saccos have emerged as dominant micro-financing societies, providing a wide range of savings and investment opportunities for their members. Therefore, the question that may disturb most during this year’s choosing process is: Best Saccos to invest in 2024? Here is a comprehensive list of the top-performing Saccos in Kenya for savings and investment in 2024, recognized for their commitment to safeguarding stakeholders’ interests and promoting wealth advancement.
Best Saccos to invest in 2024
Important Note: Ensure that the Saccos are duly satisfied by the Sacco Societies Regulatory Authority (SASRA).
- Stima Sacco
- Established: 1974
- Membership: Open to Kenyans from various sectors, business persons, groups, and corporations.
- Highlights: Leading financial partner with substantial assets, massive membership, dynamic products, and impressive dividends. Offers FOSA services since 2003.
- Mwalimu Sacco
- Membership: Primary school teachers, secondary school teachers, lecturers, members from the TSC secretariat, and the spouses and children of members in informal employment.
- Mission: Providing competitive financial services to economically transform the lives of teachers.
- Products and Services: BOSA loan products, FOSA products, business loans, welfare loans, and more.
- Mhasibu Sacco
- Founded by the Institute of Certified Public Accountants of Kenya (ICPAK).
- Membership: Targets those in the accountancy profession, including students and institutions offering accountancy training.
- Mission: Mobilize savings and economically empower members to attain financial independence.
- Waumini Sacco
- Membership: Primarily in the Catholic Diocese with over 33,000 registered members.
- Products and Services: Offers a range of FOSA and BOSA savings and loan products.
- Kimisitu Sacco
- Established: 1985
- Membership: Open to employees from NGOs, international organizations, embassies, missions, and other reputable organizations.
- Objective: Promote thrift among members, allowing them to save securely and earn returns at attractive interest rates.
- Gusii Mwalimu Sacco
- Established: 1979
- Membership: More than 31,000 members drawn from various organizations.
- Services: Offers BOSA and FOSA products, allowing members to accumulate savings.
- Metropolitan National Sacco
- Established: 1977
- Membership: Over 37,000 members.
- Objective: Provide high-quality services to meet and exceed customers’ expectations while remaining economically competitive.
- Sheria Sacco
- Formally registered: 1972
- Membership: Over 10,000 members from the Judiciary, AG chambers, different government ministries, private sector employees, and any Kenyan above 18 years with an income.
- Kenya National Police DT Sacco
- Established: 1972
- Membership: Over 63,009 members from the police force.
- Services: Offers a wide range of credit products, including premier loans, super loans, mega loans, refinancing loans, emergency loans, school fees loans, and more.
- Harambee Sacco
- Established: 1970
- Membership: Over 80,851 members from national and county governments, parastatals, and police.
- Services: Provides various services through BOSA and FOSA, offering a wide range of savings and loan products.
When considering investment options, individuals are encouraged to explore Saccos that align with their financial goals and values. It is essential to conduct thorough research and consider factors such as membership requirements, products, services, and historical performance before making investment decisions.