AMREF SACCO operates as a financial cooperative. If it were in the US, it could be operating as a Credit Union, a nonprofit financial institution owned by people who use its financial products.

Specifically, it is a non-DT (deposit taking) SACCO, which Kenyan SACCOs regulator Sacco Societies Regulatory Authority SASRA defines as a financial institution that accepts deposits but bars withdrawals as those deposits are used as collaterals by members when they are applying for loans from the SACCO for security such that it has to be forfeited in case of default.

Who can be a member of AMREF SACCO in Kenya?

AMREF SACCO was founded on September 7, 1983, with the goal of helping Amref Health Africa employees with their financial needs.

Then, it accepted membership from only those employed by Amref, the non-governmental organization focused on training local health workers in Africa to provide healthcare services that meet the continent’s critical health needs.


But today, staff of similar NGOs (10 staff minimum) can apply to be members. Even individuals referred by family and friends who are members of the SACCO can also register to be AMREF SACCO members.

What are the requirements for joining AMREF SACCO?

To be successfully registered as a new member of AMREF SACCO, there are certain conditions you must meet;

* A Ksh2,000 joining fee, deducted from the contribution of the AMREF SACCO member who referred you to join.

* Because members own the SACCOs, a share represents an individual’s ownership in these financial institutions. For new AMREF SACCO members, a minimum share capital of Ksh30,000 must be paid for one to qualify for dividends each financial year.

* One must be able to pay the minimum monthly contribution of Ksh2,000 toward their member deposit account.

What are the benefits of being an AMREF SACCO member?


AMREF SACCO offers market-leading interest on deposits and savings, and members enjoy fast processing when applying for personal loans, mortgages, auto loans, salary advance loans, student loans, and a wide range of other financial services.

As a new member, you will qualify for loans after six months of being a member. AMREF SACCO loan products range from simple mobile loans of up to Ksh50,000, depending on repayment history and credit scoring, to huge amounts of a maximum of Ksh10 million, for example, its Miliki Mortgage Financing Loan with a lengthy repayment period of 10 years.

AMREF SACCO car loan, with a 1.5% interest rate per month on a reducing balance, has a 3-year term, and one can borrow up to Ksh5 million, a limit calculated subject to a 3.5 times member deposit multiplier.

When applying for loans above Ksh100,000 from AMREF SACCO, three guarantors who are active members are needed, and one when the loan is below that amount.

Note that as a member, you can self-guarantee loans when the loan amount is within your member’s deposit prerequisites, and at that time of application, you are not a guarantor for any member with an active loan at the SACCO.

What are the savings accounts of AMREF SACCO and rates?

The prominent savings account at AMREF SACCO is the Fixed Deposit, which earns a member a high-interest rate of 8% p.a with fixing period options of 3, 6, 9 and 12 months. As a starter, to start saving in the AMREF SACCO Fixed Deposit Account, the minimum amount is Ksh50,000.

There is a Holiday Savings Account and Property Account, allowing one to lock a specific amount of cash for a period of up to 12 months and requiring a Ksh2,000 minimum contribution per month.

AMREF SACCO Junior Savings Account has the same features except for its Ksh1,000 minimum monthly contribution and Ksh5,000 base interest-earning balance.