Understanding member-owned financial cooperatives
A Savings and Credit Cooperative (SACCO) is a member-owned financial cooperative that provides savings and credit services to its members.
Saccos operate under the cooperative principles of voluntary membership, democratic member control, member economic participation, and concern for community.
Members make regular savings contributions which form the capital base for loans.
Members can borrow at reasonable interest rates, typically lower than commercial banks.
Simple steps to become a SACCO member
Browse our list of active Saccos and select one that matches your needs. Consider factors like:
Visit the SACCO's profile page and click "Join Now" to access their membership application form.
You'll typically need:
Most Saccos require new members to attend a brief orientation session covering:
Understanding the rules and regulations governing the SACCO.
Details about savings plans, loan products, and benefits.
After approval, you'll receive: