Complete List of Largest Non-Withdrawable Deposit-Taking SACCOs in Kenya

Kenya’s Savings and Credit Co-operative Societies (SACCOs) are a key part of the financial landscape, providing millions of Kenyans with access to affordable credit and savings products. SACCOs play a vital role in mobilizing savings and offering financial services to members who may not have access to traditional banking systems. Among them, non-withdrawable deposit-taking SACCOs are particularly significant due to their role in fostering long-term savings and offering credit facilities to their members.

Unlike deposit-taking SACCOs, non-withdrawable deposit-taking SACCOs do not offer front office savings activities (FOSA). This means that members cannot access withdrawable savings accounts, but they can borrow against the deposits held in their accounts. These deposits are only refundable when members exit the SACCO, making them a key part of a SACCO’s long-term stability and financial health.

As of 2023, the Sacco Societies Regulatory Authority (SASRA) reported a total of 183 licensed non-withdrawable deposit-taking SACCOs in Kenya. Below, we look at some of the largest non-withdrawable deposit-taking SACCOs in the country, ranked by total assets as per SASRA’s 2022 Sacco Supervision Annual Report.

1. Mhasibu Sacco

Total Assets: Kshs 8.61 billion
Mhasibu Sacco is the largest non-withdrawable deposit-taking SACCO in Kenya. Primarily serving accountants and finance professionals, it has grown steadily due to its focus on offering tailored financial solutions to its niche membership.

2. Njiwa Sacco

Total Assets: Kshs 7.01 billion
Njiwa Sacco has consistently ranked among the largest SACCOs in Kenya. It serves members in various professional sectors and has built a reputation for offering reliable savings and credit services.

3. Kenya Medical Association Sacco

Total Assets: Kshs 5.71 billion
This SACCO is dedicated to serving professionals in the healthcare sector, including doctors, nurses, and medical practitioners. Its substantial asset base underscores its importance to Kenya’s medical fraternity.

4. United Women Sacco

Total Assets: Kshs 5.10 billion
United Women Sacco has carved a niche for itself by focusing on empowering women through financial inclusion. It provides loans and savings products that enable women to build financial independence and security.

5. Balozi Sacco

Total Assets: Kshs 5.05 billion
Originally established to serve employees of the United Nations, Balozi Sacco has grown its membership base and assets by offering competitive loan products and savings opportunities.

6. Cooperative Bank Sacco

Total Assets: Kshs 4.65 billion
Serving the employees of Cooperative Bank and its affiliates, Cooperative Bank Sacco is a major player in Kenya’s non-withdrawable deposit-taking SACCO space.

7. Law Society of Kenya Sacco

Total Assets: Kshs 3.31 billion
Established to cater to the financial needs of legal professionals, the Law Society of Kenya Sacco has steadily grown its asset base, providing legal practitioners with essential credit and savings services.

8. AMREF Sacco

Total Assets: Kshs 2.88 billion
AMREF Sacco primarily serves employees of AMREF and the broader health sector. Its significant asset base reflects its critical role in providing financial services to health sector employees.

9. Parliamentarians Sacco

Total Assets: Kshs 2.77 billion
Parliamentarians Sacco serves members of the Kenyan Parliament and their staff, offering financial products that cater to their unique needs. Its significant asset base makes it a key player in this sector.

10. Ukaguzi Sacco

Total Assets: Kshs 2.70 billion
Ukaguzi Sacco serves professionals in the auditing and accounting industries. Its focus on these sectors has allowed it to grow its asset base and membership steadily.

Other Notable Non-Withdrawable SACCOs

Beyond the top 10, several other SACCOs have also made a mark in Kenya’s financial sector due to their significant asset bases. These include:

Rank	Sacco	Total Assets (Millions)
1	Mhasibu	8,607.61
2	Njiwa	7,013.47
3	Kenya Medical Association	5,713.73
4	United Women	5,099.79
5	Balozi	5,051.09
6	Cooperative Bank	4,651.86
7	Law Society Of Kenya	3,309.72
8	AMREF	2,878.79
9	Parliamentarians	2,767.71
10	Ukaguzi	2,702.88
11	Verona Huruma	2,615.81
12	Banki Kuu	2,584.73
13	Equity	2,235.30
14	Umoja Wendani	2,050.43
15	Finnlemm	2,033.07
16	Bunge	1,760.50
17	Kewisco	1,724.39
18	Kenyatta Matibabu	1,655.94
19	Utabibu	1,396.05
20	Bat	1,391.17
21	Jogoo	1,345.18
22	Biblia	1,337.83
23	Forward	1,219.79
24	Vision	1,170.00
25	Nairobi Water	1,153.97
26	Kentours	1,076.62
27	Ubora	1,035.25
28	PCEA	1,006.22
29	KAG	1,002.25
30	Sauti	977.07
31	Utafiti	890.48
32	Shelloyees	888.56
33	Kirungii	885.67
34	Uaminifu	883.35
35	Reli	862.25
36	Taa	862.04
37	PCEA Kayole	834.42
38	Unbound	776.83
39	Smart Savers	717.65
40	Postbank	717.09
41	PCEA Ruiru	677.25
42	Family	675.99
43	Shamiri	656.56
44	Kingsize	634.57
45	Lompasago	629.12
46	Communication	625.99
47	Total Energies	607.85
48	Ukombozi	589.12
49	Brookside	548.11
50	KEMRI	545.64
51	Braemeg	538.62
52	Dhamini	537.51
53	Bamburi Wananchi	532.52
54	Relief	516.14
55	Kanisa	514.82
56	Bands	514.52
57	Adventist	513.78
58	Masterways	507.48
59	PICEA STAFF	499.19
60	Concorde	497.83
61	Kiatu	466.79
62	Blue Eagle	461.70
63	Kenya USA Diaspora	454.42
64	Nyumba Generations	449.53
65	Farmers Choice	441.30
66	Nairobi Consumers	421.49
67	Neno	415.93
68	Rubani	391.11
69	Exams	388.70
70	Radio Guard	388.55
71	Waskom	387.53
72	Uokoaji	383.69
73	Sawa	379.25
74	Kenya Rural Roads	377.39
75	Kilele	374.75
76	Fugo	370.06
77	Mzima Springs	368.66
78	Tramom	360.59
79	Pefa Nairobi Central	352.80
80	Kumbu Kumbu	351.97
81	Ballot	341.31
82	Torch	332.87
83	ABC Empowerment	311.23
84	Kidapu	310.76
85	Kenya RE	298.94
86	Ramco Group	294.62
87	Grain Bulk	293.35
88	Mofaa	292.64
89	Barabara	289.67
90	Davis & Shirtliff	287.36
91	USIU-Africa	283.40
92	Baraka Yetu	274.40
93	DHL	273.42
94	ACK Thika Talents	271.48
95	ACK Kihara	265.54
96	Nyumba	264.12
97	Embassava	262.19
98	Maktaba	261.00
99	Kenchic	256.59
100	HELB	255.14

SASRA’s Role in Regulating SACCOs

The Sacco Societies Regulatory Authority (SASRA) is responsible for regulating all SACCOs in Kenya, ensuring that they meet regulatory standards and operate in a safe and sound manner. SASRA began regulating non-deposit-taking SACCOs in 2021, following the publication of the SACCO Societies (Non-Deposit Taking Business) Regulations, 2020. This step was taken to further safeguard member deposits and improve the overall governance of SACCOs in Kenya.

Under SASRA’s supervision, SACCOs are required to meet specific financial and governance standards. This ensures that they can continue offering members reliable financial services, such as loans, savings, and investment opportunities, while maintaining financial health.

Why Non-Withdrawable SACCOs Matter

Non-withdrawable deposit-taking SACCOs play a crucial role in Kenya’s economy, particularly by encouraging long-term savings and providing access to affordable credit. These SACCOs allow members to save regularly while also offering them the opportunity to borrow against their savings. The fact that the deposits are not withdrawable until the member exits ensures the SACCO’s long-term financial stability.

For many Kenyans, non-withdrawable SACCOs offer an alternative to traditional banking services. By providing credit at more affordable rates than commercial banks, these SACCOs help members fund personal projects, pay for education, and invest in businesses, contributing to the overall economic growth of the country.

The largest non-withdrawable deposit-taking SACCOs in Kenya, such as Mhasibu, Njiwa, and Kenya Medical Association, have continued to grow in both membership and asset base, playing a key role in financial inclusion and economic empowerment. With SASRA’s regulatory oversight, these SACCOs are well-positioned to continue offering their members valuable financial services while maintaining financial stability.

As the SACCO movement in Kenya continues to grow, non-withdrawable deposit-taking SACCOs will remain a vital part of the country’s financial ecosystem, offering secure savings options and access to affordable credit for millions of Kenyans.

SASRA Contacts