SACCOs (Savings and Credit Co-operative Societies) are arguably the most underrated financial institutions in Kenya. The 357 SASRA-regulated SACCOs hold KSh 1210.70bn between them, of which the179 deposit-taking ones account for KSh 1069.34bn. They 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.
Top 8 DT-SACCOs at a glance
| SACCO | Sector origin | Membership scale | Asset base | Dividend history |
|---|---|---|---|---|
| Mwalimu National | Teachers (TSC) | ~100,000+ (largest) | KSh 76.31bn (+10.8%), rank 1 of 179 | Low double digits historically; specific years unverified |
| Stima Sacco | Kenya Power / electricity | ~180,000+ reported | KSh 75.27bn (+13.2%), rank 2 of 179 | Strong long-run record; specific years unverified |
| Kenya Police Sacco | National Police Service | ~70,000+ reported | KSh 66.40bn (+11%), rank 3 of 179 | Consistent; specific years unverified |
| Harambee Sacco | Civil service (OP) | ~90,000 reported | KSh 41.29bn (+6.7%), rank 4 of 179 | Consistent; specific years unverified |
| Apstar Sacco (formerly Ukulima) | Ministry of Agriculture | Mid-tier | KSh 16.76bn (+6.9%), rank 15 of 179 | Specific years unverified |
| Sheria Sacco | Judiciary / legal | Mid-tier | KSh 11.56bn (+13.3%), rank 29 of 179 | Specific years unverified |
| Afya Sacco | Ministry of Health | Mid-tier | KSh 21.95bn (-3.7%), rank 8 of 179 | Specific years unverified |
| Wanandege Sacco | Aviation (KQ, KAA, KCAA) | Mid-tier | KSh 3.23bn (+26.7%), rank 69 of 179 | Specific years unverified |
| KDF Sacco | Kenya Defence Forces | ~80,000+ reported | KSh 14.54bn (+57.7%), rank 21 of 179 | Specific years unverified |
| Hazina Sacco | Treasury / public service | Mid-tier | KSh 18.71bn (+10.9%), rank 10 of 179 | Specific years unverified |
| Kenya Bankers Sacco | Banking sector | Mid-tier | KSh 10.85bn (+5.4%), rank 30 of 179 | Specific years unverified |
| Imarisha Sacco | Tea sector (Kericho) | Mid-tier | KSh 28.14bn (+14.5%), rank 7 of 179 | Specific years unverified |
| Chai Sacco | Tea (KTDA) | Mid-tier | KSh 6.49bn (+11.7%), rank 47 of 179 | Specific years unverified |
| Boresha Sacco | Tea / general (KTB origin) | Mid-tier | KSh 14.70bn (+12.8%), rank 20 of 179 | Specific years unverified |
| Wakulima Commercial Sacco | Agriculture (Muranga) | Mid-tier | KSh 1.49bn (+29.6%), rank 99 of 179 | Specific years unverified |
| Kimisitu Sacco | NGO sector | ~12,000+ reported | KSh 12.89bn (+6.9%), rank 26 of 179 | Specific years unverified |
| Nation Sacco | Nation Media Group | Media-sector base | KSh 4.73bn (+16.5%), rank 58 of 179 | Specific years unverified |
| Nyati Sacco | Aviation (Kenya Airways) | Aviation-sector base | KSh 5.70bn (+7.5%), rank 54 of 179 | Specific years unverified |
| Ollin Sacco | Nyeri county / public service | Nyeri and Mt Kenya base | KSh 13.80bn (+18.3%), rank 22 of 179 | Specific years unverified |
| Nawiri Sacco | Nakuru region / general | Nakuru-anchored base | KSh 4.51bn (+9.5%), rank 60 of 179 | Specific years unverified |
| Gusii Mwalimu Sacco | Kisii / Nyamira teachers, general | Kisii region | KSh 18.40bn (+13.3%), rank 12 of 179 | Not aggregated (see member portal) |
| Wakenya Pamoja Sacco | Gusii tea/coffee, general | Gusii region | KSh 2.06bn (+7.3%), rank 83 of 179 | Not aggregated (see member portal) |
| Fortune Sacco | Kirinyaga tea/coffee, general | Kirinyaga | KSh 9.60bn (+21.1%), rank 36 of 179 | Not aggregated (see member portal) |
| Taifa Sacco | Nyeri coffee/dairy, general | Nyeri | KSh 5.78bn (+8.6%), rank 52 of 179 | Not aggregated (see member portal) |
| Daima Sacco | Embu teachers, general | Embu | KSh 2.47bn (+13.8%), rank 78 of 179 | Not aggregated (see member portal) |
| Mafanikio Sacco | Mombasa teachers, general | Coast | KSh 1.50bn (+15.4%), rank 98 of 179 | Not aggregated (see member portal) |
| Bandari Sacco | Ports/maritime, general | Mombasa | KSh 15.07bn (+10%), rank 18 of 179 | Not aggregated (see member portal) |
| Magereza Sacco | Prisons Service, family, general | Nationwide | KSh 8.95bn (+8.6%), rank 38 of 179 | Not aggregated (see member portal) |
| Yetu Sacco | Catholic Diocese Meru, general | Meru | KSh 9.38bn (+19.3%), rank 37 of 179 | Not aggregated (see member portal) |
| Kimbilio Daima Sacco | AIC community, general | Bomet / Kericho | KSh 0.86bn (-1.1%), rank 119 of 179 | Not aggregated (see member portal) |
| Amica Sacco | Coffee/dairy, general | Murang'a | KSh 10.79bn (+23.6%), rank 31 of 179 | Not aggregated (see member portal) |
| Bingwa Sacco | Kirinyaga tea/coffee, general | Kirinyaga | KSh 10.48bn (+16.7%), rank 33 of 179 | Not aggregated (see member portal) |
| Tower Sacco | Nyandarua teachers, general | Nyandarua / nationwide | KSh 34.56bn (+23.3%), rank 5 of 179 | Not aggregated (see member portal) |
| Kingdom Sacco | Faith-community, general | Nairobi metro | KSh 2.44bn (+13%), rank 79 of 179 | Not aggregated (see member portal) |
| Unaitas Sacco | General public, SMEs, chamas | Nationwide (ex-Muramati) | KSh 29.60bn (+13.3%), rank 6 of 179 | Not aggregated (see member portal) |
| Cosmopolitan Sacco | Nakuru teachers/public service, general | Nakuru | KSh 13.58bn (+16.3%), rank 24 of 179 | Not aggregated (see member portal) |
| Ports Sacco | Kenya Ports Authority, family, general | Mombasa | KSh 12.39bn (+17.6%), rank 28 of 179 | Not aggregated (see member portal) |
| Wanaanga Sacco | Meteorological / aviation-adjacent | Nairobi | KSh 1.30bn (+3.2%), rank 106 of 179 | Not aggregated (see member portal) |
| Trans Nation Sacco | Tharaka-Nithi / Meru teachers, general | Tharaka-Nithi | KSh 17.95bn (+25.2%), rank 13 of 179 | Not aggregated (see member portal) |
| Winas Sacco | Embu public service/teachers, general | Embu | KSh 16.90bn (+17%), rank 14 of 179 | Not aggregated (see member portal) |
Asset base and membership figures are cited to the SACCOs' own communications and the SASRA industry aggregates on sasra.go.ke/sacco-supervision-reports. Per-year declared dividend rates must be verified against each SACCO's AGM circular; we mark them unverified here rather than assert figures we cannot cite to a specific primary source. Wave 3 long-tail note: per-SACCO dividend history for the 20 wave-3 DT-SACCOs above (Gusii Mwalimu through Winas) is not aggregated on paybillke, because long-tail DT-SACCO AGM circulars are distributed to members rather than published. See each SACCO's own member portal for its historical dividend and interest-on-deposit rates.
Per-SACCO deep dives
Each of the top 8 has a three-guide set covering how to join, loan products, and dividends and interest on deposits.
- Stima Sacco: membership, loans, dividends
- Mwalimu National: membership, loans, dividends
- Kenya Police: membership, loans, dividends
- Harambee: membership, loans, dividends
- Ukulima: membership, loans, dividends
- Sheria: membership, loans, dividends
- Afya: membership, loans, dividends
- Wanandege: membership, loans, dividends
- KDF Sacco: membership, loans, dividends
- Hazina: membership, loans, dividends
- Kenya Bankers: membership, loans, dividends
- Imarisha: membership, loans, dividends
- Chai: membership, loans, dividends
- Boresha: membership, loans, dividends
- Wakulima Commercial: membership, loans, dividends
- Kimisitu: membership, loans, dividends
- Nation: membership, loans, dividends
- Nyati: membership, loans, dividends
- Ollin: membership, loans, dividends
- Nawiri: membership, loans, dividends
Cross-cutting: how to join a SACCO, SACCO vs bank vs mobile app, SACCO dividend explained, what happens when a SACCO fails, share capital vs deposits, FOSA vs BOSA, Deposit Guarantee Fund.
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 · Total assets KSh 76.31bn at 31 December 2025, rank 1 of 179 · ~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: 0240240 · 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 0240240.
3. Kenya Police Sacco
Paybill: 4027903 · 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: 850436 · 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: 545500 · Sector-open SACCO with strong agribusiness focus.
8. Imarisha Sacco
Paybill: 982100 · Originally for teachers in Bomet/Kericho, expanded to wider membership.
9. Kenya Defence Forces Sacco
Paybill: 907116 · For KDF personnel, families, and now general public · Strong asset base.
10. Kenya Bankers Sacco
Paybill: 400444 · 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
- Sheria Sacco (964700), for legal sector
- Wakulima Commercial Sacco (7082099), agriculture-focused
- Biashara Sacco (400300), business sector
- Kimisitu Sacco (911200), NGO sector, open to all
- Taifa Sacco (930642), Kerugoya/Mt Kenya region
- Nawiri Sacco (505368), Nakuru-region
- Chai Sacco (544200), tea sector
- Daima Sacco (874950)
- Gusii Mwalimu Sacco (283052), Kisii region teachers
- MKU Sacco (270988), Mt Kenya University-affiliated
How to join a SACCO
The mechanics are similar across most SACCOs. Typical process:
- Visit the SACCO's nearest branch (or apply online if available)
- Submit application form with your ID, KRA PIN, and passport photos
- Pay the entry fee (KES 1,000 - 5,000 typical)
- Pay the minimum share capital (KES 5,000 - 30,000, varies by SACCO)
- Set up monthly contribution by standing order, payroll deduction or M-PESA paybill
- Identify two existing members as guarantors (some SACCOs waive this for first-time members)
- 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:
- Lipa na M-PESA → Pay Bill
- Enter the SACCO's paybill number (see list above)
- Enter your member number / account number as the account
- Enter the contribution amount
- 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, with total assets of KSh 76.31bn at 31 December 2025. Stima is second on KSh 75.27bn, Kenya National Police third on KSh 66.40bn. See the full ranking of all 179 deposit-taking SACCOs.
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
- All SACCO paybills on paybillke
- sasra.go.ke, SACCO regulator, list of compliant SACCOs
- kuscco.com, KUSCCO umbrella body