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Top SACCOs in Kenya 2026: paybill numbers, dividends, and how to join

The largest and best-performing SACCOs in Kenya — paybill numbers, dividend rates, loan multipliers, and how to choose.

13 min read Updated 27 April 2026by paybillke editorial

SACCOs (Savings and Credit Co-operative Societies) are arguably the most underrated financial institutions in Kenya. They quietly hold over KES 1 trillion in assets, pay dividends that beat most banks, and lend at multipliers of 3x-5x your savings — interest rates that commercial banks can't match. The SASRA-regulated DT-SACCOs (Deposit-Taking SACCOs) operate front-office services almost like a bank: M-PESA paybill deposits, ATM cards, and mobile banking. This guide is a practical 2026 tour of the major Kenyan SACCOs — paybill numbers, who can join, what they pay in dividends, and how to actually open an account.

Why join a SACCO at all

Three real reasons:

  • Better returns on savings. Top SACCOs pay 8-12% interest on deposits and 10-15% dividends on shares. A 6-month bank fixed deposit currently pays 6-8%. Over five years, the SACCO compounding advantage is substantial.
  • Cheaper loans. SACCO loan rates are typically 12-14% reducing balance, vs. commercial bank rates of 15-22% for unsecured lending. Loan multipliers of 3x-5x your savings mean you can borrow significantly more than your bank statement would suggest.
  • Forced savings discipline. SACCO contributions are typically deducted at source (payroll deduction or M-PESA standing order). The discipline is the value — most members couldn't self-save the same amount.

Major SACCOs in Kenya — the 2026 ranked list

1. Mwalimu National Sacco

Paybill: 541900 · Founded 1974 for teachers, now open to all · Asset base ~KES 70 billion · ~100,000 members.

Originally for teachers (Mwalimu = teacher in Swahili), Mwalimu National opened to general membership in the 2010s and is now Kenya's largest SACCO. Pays 10-12% on deposits and 12-14% dividends. Loan multiplier 3x. Strong on emergency loans (24-hour processing) and development loans for property.

2. Stima Sacco

Paybill: 522866 · Founded for Kenya Power employees, open to all · ~80,000 members · Strong dividend track record.

Stima Sacco has one of Kenya's best long-term dividend records — consistently paying 12-15% over the last decade. Loan products include school fees loans (popular every January), mortgage loans, and the typical development/emergency mix. M-PESA paybill deposits go to 522866.

3. Kenya Police Sacco

Paybill: 4027983 · For police, prisons, NIS, and now general public · ~75,000 members.

Originally for serving and retired police officers and their families. Opened to general membership in 2017. Pays 10-13% combined dividend + interest. Strong on car loans (for officers transitioning out) and instant loans against the SACCO bank account.

4. Harambee Sacco

Paybill: 525200 · Founded for OP and President's Office staff, open to all · ~50,000 members.

One of Kenya's oldest SACCOs (1970). Pays consistent 11-14% returns. Strong on development loans for plot purchase and construction.

5. KUSCCO

Paybill: 300600 · The umbrella body for SACCOs in Kenya, also offers central finance facility services.

KUSCCO is more of a SACCO services and central finance organisation than a member-facing SACCO. Useful for understanding the SACCO regulatory environment and accessing tools many SACCOs use behind the scenes.

6. Hazina Sacco

Paybill: 411420 · For National Treasury and government finance staff, open to general public.

Smaller but consistent performer. Pays 10-12% combined returns. Strong on emergency loans and a respectable mortgage product.

7. Boresha Sacco

Paybill: 200200 · Sector-open SACCO with strong agribusiness focus.

8. Imarisha Sacco

Paybill: 511700 · Originally for teachers in Bomet/Kericho, expanded to wider membership.

9. Kenya Defence Forces Sacco

Paybill: 881100 · For KDF personnel, families, and now general public · Strong asset base.

10. Kenya Bankers Sacco

Paybill: 800444 · Originally for banking sector employees, now open to all.

Strong on mortgages and development loans. Banking sector roots mean a more professionally-run treasury operation than smaller SACCOs.

Other major SACCOs worth checking

How to join a SACCO

The mechanics are similar across most SACCOs. Typical process:

  1. Visit the SACCO's nearest branch (or apply online if available)
  2. Submit application form with your ID, KRA PIN, and passport photos
  3. Pay the entry fee (KES 1,000 - 5,000 typical)
  4. Pay the minimum share capital (KES 5,000 - 30,000, varies by SACCO)
  5. Set up monthly contribution by standing order — payroll deduction or M-PESA paybill
  6. Identify two existing members as guarantors (some SACCOs waive this for first-time members)
  7. Wait 6-12 months before becoming loan-eligible (the "qualifying savings period")

Once you're an active member, you can borrow up to 3x-5x your savings (varies by product), pay dividends and interest annually after the AGM, and access front-office services like an ATM card or M-PESA paybill deposits.

Paying SACCO contributions via M-PESA

The mechanic is the same as paying any paybill:

  1. Lipa na M-PESA → Pay Bill
  2. Enter the SACCO's paybill number (see list above)
  3. Enter your member number / account number as the account
  4. Enter the contribution amount
  5. Confirm with PIN

Most SACCOs credit the deposit to your account within 1-3 hours, though some take up to 24 hours. Save the M-PESA confirmation — useful at AGM time when reconciling dividend calculations.

How to choose between SACCOs

Consider:

  • Sector affiliation. If you're a teacher, Mwalimu National makes sense. If you're law sector, Sheria. Sector SACCOs often have payroll-deduction arrangements with employers, which simplifies contributions.
  • Dividend track record. Look at the last 5 years of declared dividends. A SACCO that paid 14% in 2021 but 8% in 2022, 10% in 2023, and 6% in 2024 is less attractive than one paying a steadier 11-12%.
  • Loan multiplier. 3x-5x is the typical range. Some SACCOs offer 3x for new members and 5x once you've held shares for 5+ years. Higher multipliers come with stricter guarantor requirements.
  • SASRA registration. Make sure the SACCO is licensed by SASRA (the SACCO regulator). Unregistered SACCOs do exist but lack consumer protection.
  • Branch / e-channel access. Bigger SACCOs have ATM cards and apps. Smaller SACCOs may require visiting a branch for everything. Convenience matters over decades.
  • AGM transparency. Good SACCOs publish detailed annual reports. Read them — particularly the bad debt provisions and the auditor's qualifications, if any.

SACCO risks worth knowing

SACCOs aren't risk-free:

  • Liquidity. Withdrawing your share capital typically requires 60-90 days notice. Don't put emergency money in shares.
  • Asset concentration. Many SACCOs lend predominantly to members in the same sector — if that sector hits trouble, the SACCO can struggle.
  • Mismanagement. SASRA periodically intervenes in poorly-run SACCOs. Check the SASRA list of compliant SACCOs annually.
  • Guarantor risk. If you guarantee another member's loan and they default, your savings can be attached. Choose guarantor relationships carefully.

FAQ

What is the largest SACCO in Kenya?

Mwalimu National Sacco, by asset base — over KES 70 billion in assets.

Which SACCO pays the best dividends?

Stima, Mwalimu National, and Harambee have the strongest long-term dividend records, all consistently paying 12-15% combined returns over the past decade.

Can I join multiple SACCOs?

Yes — there's no legal restriction. Some Kenyans join two: one sector SACCO for payroll convenience and one general SACCO for diversification. Just make sure you can sustain both contributions.

What's the minimum to start?

Most SACCOs require KES 5,000 - 30,000 in initial share capital plus a small entry fee (KES 1,000 - 5,000). You can start small and build up.

SACCO or bank — which is better?

SACCOs win on returns and loan rates. Banks win on liquidity, service convenience, and consumer protection mechanisms. Most financially literate Kenyans use both — SACCO for long-term savings and loans, bank for daily transactions.

Resources

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