SACCO is the Acronym for Savings and Credit Co
SACCO is the acronym for Savings And Credit Co-operative. There is no difference between a credit union and a SACCO. The term “credit union” is generally not used in Africa and specifically in South Africa to avoid confusion with the various labour movements. However ,some habits die-hard.
A Savings and Credit Co-operative (SACCO) is a democratic, unique member driven, self-help co-operative. It is owned, governed and managed by its members who have the same common bond: working for the same employer, belonging to the same church, labour union, social fraternity or living/working in the same community. A Savings and Credit Co-operatives membership is open to all who belong to the group, regardless of race, religion, colour, creed, and gender or job status.
These members agree to save their money together in the SACCO and to make loans to each other at reasonable rates of interest. Interest is charged on loans, to cover the interest cost on savings and the cost of administration. There is no payment or profit to outside interest or internal owners. The members are the owners and the members decide how their money will be used for the benefit of each other.
Savings and Credit Co-operatives are democratic organisations and decisions are made in a structured democratic way. Members elect a board that in turn employs staff to carry out the day-to-day activities of the SACCO. The number of board members is between nine and fifteen. Members also elect a supervisory committee to perform the function of an internal audit.
The following are Saccos that have been licensed by SASRA.
- Stima Sacco Society Ltd
- Baringo Teachers Sacco Society Ltd
- Tai Sacco Society Ltd
- N. Sacco Society Ltd
- South Imenti Tea Growers Sacco Society Ltd
- Kenya Highlands Sacco Society Ltd
- Bandari Sacco Society Ltd
- Gusii Mwalimu Sacco Society Ltd
- Wakenya Pamoja Sacco Society Ltd
- Meru South Farmers Sacco Society Ltd
- Kilifi Teachers Sacco Society Ltd
- Kitui Teachers Sacco Society Ltd
- Ndege Chai Sacco Society Ltd
- Tenhos Sacco Society Ltd
- Nyamira Tea Farmers Sacco Society Ltd
- Nyeri Teachers Sacco Society Ltd
- Kakamega Teachers Sacco Society Ltd
- Kite Sacco Society Ltd
- Kipsigis Teachers Sacco Society Ltd
- Mombasa Teachers Sacco Society Ltd
- Borabu Sacco Society Ltd
- Chai Sacco Society Ltd
- Mombasa Port Sacco Society Ltd
- Muramati Sacco Society Ltd
- Bingwa Sacco Society Ltd
- Kmfri Sacco Society Ltd
- Nakuru Teachers Sacco Society Ltd
- Nacico Sacco Society Ltd
- Baringo Farmers Sacco Society Ltd
- Nandi Hekima Sacco Society Ltd
- Murang’a Teachers Society Ltd
- Mwito Sacco Society Ltd
- Muhigia Sacco Society Ltd
- Irianyi Tea Sacco Society Ltd
- Tharaka Nithi Teachers Sacco Society Ltd
- Daima Sacco Society Ltd
- Comoco Sacco Society Ltd
- Taifa Sacco Society Ltd
- Fariji Sacco Society Ltd
- Diocese Of Meru Sacco Society Ltd
- Wakulima Dairy Sacco Society Ltd
- Universal Traders Sacco Society Ltd
- Wananchi Sacco Society Ltd
- Baraka Sacco Society Ltd
- Mwalimu National Sacco Society Ltd
- Chepsol Sacco Society Ltd
- Wanandege Sacco Society Ltd
- Kenya Police Staff Sacco Society Ltd
- K-Unity Sacco Society Ltd
- Biashara Sacco Society Ltd
- Nation Staff Sacco Society Ltd
- Orthodox Development Sacco Society Ltd
- Kuria Teachers Sacco Society Ltd
- Konoin Sacco Society Ltd
- Kiambaa Dairy Rural Sacco Society Ltd
- Simba Chai Sacco Society Ltd
- Githunguri Dairy & Community Sacco Society Ltd
- Kingdom Sacco Society Ltd
- Sot Tea Growers Sacco Society Ltd
- Nyandarua Teachers Sacco Society Ltd
- Metropolitan Teachers Sacco Society Ltd
- Keiyo Teachers Sacco Society Ltd
- Mumias Outgrowers Sacco Society Ltd
- Afya Sacco Society Ltd
- Embu Teachers Sacco Society Ltd
- Harambee Sacco Society Ltd
- Jamii Sacco Society Ltd
- Wareng Teachers Sacco Society Ltd
- Bureti Sacco Society Ltd
- Sheria Sacco Society Ltd
- Kenya Canners Sacco Society Ltd
- Asili Sacco Society Ltd
- Safaricom Sacco Society Ltd
- Mathira Farmers Sacco Society Ltd
- Magadi Sacco Society Ltd
- Nithi Tea Growers Sacco Society Ltd
- Kenpipe Sacco Society Ltd
- Maua Methodist Hospital Sacco Ltd
- Bungoma Teachers Sacco Society Ltd
- Siaya Teachers Sacco Society Ltd
- Narok Teachers Sacco Society Ltd
- Trans-Nzoia Teachers Sacco Society Ltd
- Chemelil Sacco Society Ltd
- Murata Sacco Society Ltd
- Airports Sacco Society Ltd
- Ndosha Sacco Society Ltd
- Siraji Sacco Society Ltd
- Chuna Sacco Society Ltd
- Meru Mwalimu Sacco Society Ltd
- Ukulima Sacco Society Ltd
- Wana-Anga Sacco Society Ltd
- Nyambene Arimi Sacco Society Ltd
- Naku Sacco Society Ltd
- Waumini Sacco Society Ltd
- Thika District Teachers Sacco Society Ltd.
- Meru North Farmers Sacco Society Ltd
