Top 11 Best Investment SACCOS In Kenya 2022
KEY POINTS
To achieve financial empowerment, one is advised to join reliable savings and credit co-operatives (SACCOs) to inspire a saving culture and finance development projects.
KEY TAKEAWAYS
- SACCOs make a great way of developing a savings culture.
- Most SACCOs offer loans of up to 3 times your savings.
- A reliable SACCO safeguards the interests of its members.
Saccos in Kenya mainly strive to bring together people with similar financial backgrounds for a common purpose of saving and investment. Several Saccos in Kenya offer such opportunities. However, not all have managed to safeguard the interests of its members to an efficient level.
To achieve financial empowerment, one is advised to join reliable savings and credit co-operatives (SACCOs) to inspire a saving culture and finance development projects.
Here is a list of ten SACCOS you might want to consider.
- Unaitas SACCO
Unaitas is a deposit-taking Savings and Credit Cooperative organization licensed under the SACCO Societies Act, 2012.
The Financial Service Provider which was initially registered on 14 May 1993 as a cooperative society, includes individuals, investment groups, and small businesses.
In 2020, its net profit rose to Sh620.2 million from Sh589.3 million, representing a 30.9 million shillings increment.
It is targeting to expand its income to 3.5 billion shillings in 2022 through loan interests, commissions, and investments among others.
This SACCO gives out loans to members up to three times the member’s savings. Moreover, with repayment interests ranging between 1% and 1.5% per month with a reducing balance, loan periods can be extended up to 72 months.
- Stima SACCO
Stima DT Savings and Credit Cooperative Society Limited is a leading, country-wide, fast-growing, and licensed DTS (Deposit Taking Sacco) with an Asset Base of 42 billion shillings, Deposits of over 32 billion shillings, Loan Book of over 34 billion shillings, and membership of over 141,000
The SACCO offers loans up to two times the member’s savings. The interests charged on loans are as low as 1% per month with a reducing balance. The loan periods are extendable for up to 60 months.
When you become a member at Stima Investment Cooperative Society, you are entitled to unlimited membership benefits including Subsidized prices for all products e.g., on land and houses.
- Kenya Police SACCO
The Kenya Police SACCO Limited is one of the oldest SACCOs in the Country. The SACCO was registered on 20th November 1972.
Loans offered to members are as much as three times the members’ investment. The interests on loans from the Kenya Police SACCO are slightly high, and loans take 48 months. However, this SACCO is well known for its excellence in services to investors.
Joining the Police SACCO comes with several key benefits such as low-interest rates on loans and High annual dividends and interest on deposits.
- Safaricom SACCO
Safaricom Sacco is a Savings and Credit Co-operative Society, which was formed in 2001 to provide members with the opportunity to access loans to develop and improve their economic and social status.
Sacco’s main role is to empower its members through the provision of diversified products and services and has seen significant growth with an asset base of 6.6 billion shillings.
- Mwalimu SACCO
Mwalimu Cooperative Savings & Credit Society Limited, often referred to as Mwalimu Sacco is an institutional Sacco, composed of the staff of the Teachers Service Commission (TSC), TSC teachers in secondary and tertiary institutions, TSC teachers in elementary schools, the staff of Mwalimu National Sacco Limited and, the spouses of the above members.
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It enjoys membership from all parts of the country and seeks to enable the teachers to access affordable financial services.
Members enjoy a wide range of benefits that include: Savings, dividends, loans, salary advances, and Burial and Benevolent (BBF) services; among others.