The SACCOs-or Savings and Credit Cooperative Organizations in full are formed by members who share a common bond like teachers, police officers, civil servants, and so forth. SACCOs loans are easy to access and members can get dividends as well. Here is a list of teachers’ SACCOs in Kenya.
1. Metropolitan National Sacco Society Ltd-Over 100,000 Members
This SACCO was a leading light and its growth was testimony enough. The SACCO, then known as Kiambu Teachers Sacco, was established on February 10, 1977.
To spread its wings across the country, the Sacco changed its name to Metropolitan National SACCO Society Ltd. Metropolitan has two branches in Nairobi, one apiece in Kiambu, Kisumu, Bungoma, Thika, Limuru, and Nakuru.
Of late, the SACCO has been facing a financial downturn to the chagrin of its members. This is a result of what has been termed an ambitious expansion that has left the Sacco in financial doldrums.
The Sacco has also been struggling to service loans amounting to kes5 billion owed to two commercial banks.
2. Mentor Society Sacco Ltd-18,000 members
Has been doing fairly well. The SACCO that is owned by Muranga teachers has scooped numerous awards during Ushariki Day national event. Those who can join the SACCO include TSC employees, civil servants, parents teachers association (PTA), and the board of governors (BoG).
The SACCO has over 18,000 members. Sacco’s website has been suspended.
3. New Fortis Savings and Credit Co-operative society-14082 members
Opened its doors to members in 1976 with only 857 members drawn from the teaching fraternity. Then known as Nyeri Teachers Sacco before changing its name to New Fortis Savings and Credit Co-operative Society, the SACCO has grown over the years and as of December 2018, it had 14082 members.
The constitution of the SACCO was amended to allow civil servants to join.
4. Gusii Mwalimu Sacco Society Ltd-31,000 Members
This is one of the oldest teacher’s SACCO in Kenya. The financial institution opened its doors in 1977 and started operations two years later, boasts of 31,000 members plus from various organizations.
Members are entitled to the following Back Office Service Activity (BOSA) and FOSA (Front Office Services Activity) products and services. Read More
5. Mwalimu National Sacco Society Ltd
This is the largest African SACCO drawing its membership from teachers in all 42 counties of Kenya. The Membership is not only restricted to teachers.
The members are classified into two categories: Read More here about Mwalimu National Sacco
6. Nakuru Teachers’ Saccos Society (Cosmopolitan Sacco Society)
Nakuru Teachers SACCO, now Cosmopolitan SACCO Society, was established in 1977 with its common bond being teachers in Nakuru District.
With its headquarters in Nakuru town, the SACCO has set up four branches in Narok, Bahati, Naivasha, and Molo. Read More
7. Bondo Teachers College
The SACCO has grown from an initial 13 members to boasts of over 1000 members. Bondo Teachers SACCO Society was registered on 29 November 1999. Bondo Teachers Sacco Front Office Service Activity (FOSA).
8. Kitui Teachers Sacco Society Ltd
With a rich history dating from 1976, the Kitui Teachers Society was initially only restricted to teachers employed by the Government before opening its doors to employees from other government ministries and organizations.
9. Kwale Teachers Sacco Society Ltd
This is the only deposit-taking Savings and Credit Co-operative Society Ltd within Kwale County and sadly it doesn’t have a website.
11. Marsabit Teachers Sacco Society Ltd
This is another pioneer teacher’s SACCO that was established on 18th November 1977 with an initial 33 members. Marsabit Teachers SACCO Society LTD, now known as BI High SACCO has attractive BOSA and FOSA products and services.
12. Mwingi Teachers Sacco Society Ltd
Membership of Mwingi Mwalimu Savings and Credit Co-operative Society Ltd is drawn from primary and secondary school teachers, Teachers Service Commission (TSC) secretariat, KNUT, and BBF employees.
The SACCO has roped in civil service employees and individuals from private schools and other institutions.
13. Elgon Teachers Sacco Society Ltd
The teacher’s SACCO has its offices in Kimilili Town. Members benefit from education loans and members loans.
14. Lamu Teachers Sacco Society Ltd
The teacher’s SACCO is located in Lamu at the Lamu Teachers SACCO Society Limited premises in Lamu town. Members benefit from loans and saving plans.
15. Imarisha Sacco Society Limited
The SACCO was established in 1978 to cater to teachers but has since expanded to absorb entrepreneurs and professionals in different fields. Imarisha Sacco Society Limited is among the best.
16. Narok Teachers Sacco Society Ltd
17. Rachuonyo Teachers Sacco Society Ltd
18. Wareng Teachers Sacco Society Ltd
19. Kilifi Teachers Sacco Society Ltd