SASRA: List of All Licensed Saccos in Nairobi County

Sacco is the short form of Savings and Credit Co-operative Society. When they are many, they are Saccos. These are nonprofit financial organizations, similar to credit unions in operations, which work towards the financial well-being of their members by offering slightly cheap conditions on their loan products than traditional banks.

When comparing Saccos and banks, they are similar in some functionalities as they both offer a variety of deposit accounts, high-yield savings accounts, loans, credit accounts, and even checking accounts, with a number of them giving ATM and debit cards to their members.

However, Saccos differ from banks in that they are categorized as nonprofit financial institutions, investing back a significant portion of interests earned from loans into the products they offer or pay as dividends to members, unlike banks which invest their interests elsewhere, for example, in real estate and government security and give profits to shareholders.

Since Saccos are owned by members, some Saccos accept membership from only a category of people; for instance, for the United Nations DT Sacco, only the staff of United Nations Agencies, Diplomatic Missions, and their immediate family members can join, but there are Saccos which welcomes everybody to join as long as you meet the laid out eligibility requirements.

To join a Sacco in Kenya, you need a National ID card or passport, KRA PIN, passport-sized photograph, and an opening deposit which varies from one credit union to another. These Saccos are licensed by the government agency Sacco Societies Regulatory Authority (SASRA), the regulator of all the Deposit Taking and Specified Non-Deposit Taking Sacco Societies in Kenya.

If you want to be a member of these Saccos and you are in Nairobi, ensure you join a SASRA-licensed Sacco to guarantee the safety of your deposit and benefit from reasonable interest rates as a member:

Which Saccos are licensed by SASRA in Nairobi? (2023)

These are depoit-taking Saccos in Nairobi which received an operational license from the Sacco Societies Regulatory Authority for a period starting from January 1, 2023 – December 31, 2023:

SASRA: The table above shows the 46 licensed deposit-taking Saccos in Nairobi as of 2023.

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