For those in Sacco’s which one pays the highest dividends on shares?
4NTE sacco
[SIZE=7]List of 5 Credible Sacco’s In Kenya[/SIZE]
10 Feb 2017
By Michelle Wanjiku
A friend of mine wants to join a Sacco because they heard it is the best place to get affordable loans. However, she had no idea which one she should join and was scared of getting scammed.
With the large number of Sacco’s in Kenya, it is difficult to know which are the legitimate ones. In this article, we list a few of the credible Sacco’s you can join in Kenya.
A Sacco is a special type of cooperatives that offers financial services to its members while focusing on the mobilization of funds and providing members with cheap loans.
The Sacco’s in Kenya are governed by the SACCO Societies Regulatory Authority (SASRA). There are a variety of Sacco’s in Kenya one can join. It all depends on what you are looking for, be it a place to get a loan, for saving or investment.
READ ALSO >>> 7 Brilliant Tips On How To Save Money In 2017
[SIZE=5]Here Is a List of the Credible Sacco’s in Kenya[/SIZE]
1. Hazina Sacco
It was registered as a savings and credit co-operative society in 1971 and after years of success, the Sacco finally became a deposit taking Sacco after they were registered by SARSA.
Hazina Sacco has over 15,000 active members who are mainly from private sector employees, government employees as well as organized youth and women’s group. Their membership is open to everyone.
The Sacco gives loans of up to 3 1/2 times the value of the savings you have with a repayment plan of 72 months with 1% per month interest.
2. One of the Credible Sacco’s In Kenya, is the Kenya Police Sacco
This Sacco boasts of over 52K members and was formed in 1972 by the Kenya Police Staff. Initially, the members were security forces only but nowadays membership is open to all.
Last year it received an award for being the Sacco with the Highest Dividend / Interest Rate in the Government Sector.
When it comes to loans, the organization offers loans of up to 3 times the amount of savings you have and they allow you to pay it back in 48 months with an interest of 13.5% per year.
RELATED ARTICLE >>> Amazing Benefits of Joining a Sacco
3. Stima Sacco
Stima Sacco was established in 1974 and has since then experienced steady growth. They have 5 branches in Nairobi, Mombasa, Kisumu, Nakuru and Olkaria.
Their membership is open to everyone and one can borrow up to 2 times the amount of savings they have and pay it back within 60 months. It has an interest rate of 1% per month.
4. Unaitas
It was registered as a Savings and Credit cooperative Society in 1993 by a group of farmers who wanted a place they could save and get loans at affordable rates. It was known as Murang’a Tea Growers.
In 2007 it changed its name to Muramati Sacco after it expanded outside Murang’a and opened its membership to medium sized business people and salaried employees.
It rebranded to Unaitas in 2012 in line with its growth strategy to include members from all walks of life.
The Sacco offers loans of up to 3 times your savings with a payment period of 72 months at interest rates of between 1 – 1.5% per month.
RELATED ARTICLE >>> 6 Things You Should Never Take A Loan To Do
5. Maisha Bora SACCO is also one of the Credible Sacco’s In Kenya
As one of the best Sacco’s in Kenya, it was started by a group of Unilever factory workers in 1974. Membership for this Sacco is open to all.
The Sacco allows members to borrow up to 3 times their savings and pay it back in a period of 72 months with an interest rate of 1% per month.
When choosing a Sacco it is important to remember to pick one that best suits your needs and ensure it is a credible one so as to avoid loss of your hard earned money.
[SIZE=5]Here is a list of other credible Sacco’s in Kenya[/SIZE]
- Waumini Sacco
- Mwalimu National
- K-Unity Sacco
- Harambee Sacco
- Wanandege Sacco
You may want to read SACCOS in Kenya
-Career Point Kenya
Lk
Safaricom Sacco
kama uko Capirro city of Vumbistan ingia Unaitas
Few saccos can beat Safaricom Sacco in terms of dividends. but kuingia ndio utastrugle kiasi
Check this out
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Niko waumini sacco. Joined 2006
Imarika,tower,Kimisitu, and ukristo are doing well too
shida ya sacco ni when one defaults and you had guaranteed him/her, you become collateral
Educate me, will you?
Does this apply to Safaricom Sacco or just the SIC- Safaricom Investment Cooperative body?
Stima Sacco. Got a surprise Easter message. 34k deposited ad dividend. Na vile was broke
There is a difference between SIC and safaricom Sacco. Hebu research kidogo
Unless it is a pyramid scheme where dividends are paid by incoming contributions, no business in the world can give such percentages. Where can they invest those funds to make such huge margins?
Mazao Sacco
Usiku Sacco
You know there is a difference between safaricom sacco and safaricom investment sacco? Don’t confuse the two
Uko na 340,000 deposit or shares:D:D umemwaga mtama kwa kuku wengi… peasant
Dividends wamefika 10% tuwatambue?
Wacha marongo