Kenya’s savings and credit cooperatives (SACCOs) remain one of the most trusted ways to save money, access credit, and grow wealth at grassroots levels. As the SACCO movement grows, regulation has become more important than ever. That’s where SASRA—the Sacco Societies Regulatory Authority—comes in. Established in 2010, SASRA supervises and licenses all deposit-taking SACCOs. These SACCOs must meet stringent financial and management standards, providing members with peace of mind. In 2025, Kenya has 178 licensed deposit-taking SACCOs. Below is the complete list to help you find one near you. Understanding Licensed Deposit-Taking SACCOs In Kenya Deposit-taking SACCOs are cooperatives allowed to accept deposits from members and offer credit and other financial services. They operate under strict supervision from SASRA, a government body created to boost transparency, efficiency, and security in the SACCO industry.

SASRA’s role includes: Licensing all DT-SACCOs in Kenya. Monitoring their financial health and operations. Protecting member savings by enforcing compliance with financial regulations. Being licensed means a SACCO is safe, trustworthy, and meets the minimum operational requirements set by the law. Members of licensed SACCOs enjoy greater protection and confidence in their investments. Top Deposit-Taking SACCOs in Nairobi Afya Sacco Society Limited – Located at Afya Centre, Tom Mboya Street, Nairobi Jamii Sacco Society Limited – Based at Mukenia Road, South B, Nairobi Harambee DT Sacco Society Limited – Found at Harambee Sacco Plaza, Haile Selassie Avenue Kenya National Police DT Sacco Society Limited – At Kenya Police Sacco Plaza, Ngara Road Stima DT Sacco Society Limited – Situated at Stima Sacco Plaza, Mushembi Road, Parklands Mhasibu DT Sacco Society Limited – Located at Absa Towers, Market Street Mwalimu National Sacco Society Limited – Found on Hill Lane, Nairobi Ushuru Sacco Society Limited – Located on Wood Avenue, Kilimani Sheria Sacco Society Limited – Found at Matumbato Close, Nairobi United Nations DT Sacco Society Limited – Located at the UN Complex, Gigiri Popular SACCOs in Central Kenya Biashara Sacco Society Limited – Based in Nyeri Town Mentor Sacco Society Limited – Located in Murang’a Tower Sacco Society Limited – Situated in Ol’kalou Township Wananchi Sacco Society Limited – Found in Othaya Nyati Sacco Society Limited – Headquartered at Odyssey Plaza, Nairobi Unison Sacco Society Limited – Located along Nyeri – Nanyuki Road Goodway Sacco Society Limited – In Kerugoya Azima Sacco Society Limited – Based on Wabera Street, Thika Asili Sacco Society Limited – Located along the Lower Ngara Road Amica Sacco Society Limited – Situated in Murang’a Leading SACCOs in Western Kenya Invest & Grow (IG) Sacco Society Limited – Kakamega Wevarsity Sacco Society Limited – Kakamega – Webuye Road Vihiga County Farmers Sacco Society Limited – Mudete Town Gusii Mwalimu Sacco Society Limited – Located on Kisii – Kericho Road Wakenya Pamoja Sacco Society Limited – Kahawa House, Kisii Trans Nation Sacco Society Limited – Chuka Town Smartlife Sacco Society Limited – Marakwet Topkrim DT Sacco Society Limited – Oyugis Town Fortitude Sacco Society Limited – Mbita Nandi Farmers Sacco Society Limited – Market Street, Nandi Hills Notable SACCOs in Eastern Kenya Imarisha Sacco Society Limited – Kisumu – Nakuru Highway Yetu Sacco Society Limited – Nkubu Town, Meru Nexus Sacco Society Limited – Nkubu, Meru Muki Sacco Society Limited – Kinangop Mwito Sacco Society Limited – Desai Road, Nairobi Golden Pillar Sacco Society Limited – Meru Town Jamii Yetu Sacco Society Limited – Maua Solution Sacco Society Limited – Gakoromone Road, Meru Smart Champions Sacco Society – Meru Univision Sacco Society Limited – Kitui Town SACCOs Found Along the Coast Hazina Sacco Society Limited – Ngong Road, Nairobi Imarika Sacco Society Limited – Kilifi Mafanikio Sacco Society Limited – Mombasa Shoppers Sacco Society Limited – Tom Mboya Street, Mombasa Ports DT Sacco Society Limited – Mwakilingo Road, Mombasa Tabasuri DT Sacco Society Limited – Texas Plaza, Mombasa Washa Sacco Society Limited – Ralli House, Nyerere Avenue, Mombasa Tai Sacco Society Limited – Githunguri Maisha Bora Sacco Society Limited – Industrial Area, Nairobi Simba Chai Sacco Society Limited – Kericho SACCOs Serving the Rift Valley Region Egerton University Sacco Society Limited – Njoro Boresha Sacco Society Limited – Eldama Ravine Capital Sacco Society Limited – Meru Patnas Sacco Society Limited – Litein Town Tenhos Sacco Society Limited – Tenwek, Bomet Trans Counties Sacco Society Limited – Kapsara Metropolitan National Sacco Society Limited – Kiambu Strategic DT Sacco Society Limited – Nairobi County Skyline DT Sacco Society Limited – Eldama Ravine Prime-Time Sacco Society Limited – Iten University and Institutional SACCOs Chuka University Sacco Society Limited – Chuka Egerton University Sacco Society Limited – Egerton Fundilima Sacco Society Limited – JKUAT Kenversity Sacco Society Limited – Kahawa Sukari The Kenya Bankers Sacco Society Limited – Nairobi NSSF Sacco Society Limited – Bishops Road, Nairobi Defence Sacco Society Limited – Ulinzi House Elimu Sacco Society Limited – Nairobi Airports Sacco Society Limited – Kenya Airports Authority HQ Telepost Sacco Society Limited – City Square Post Office How to Identify a Licensed SACCO To ensure your SACCO is legitimate: Visit SASRA’s website and review the latest list of licensed DT-SACCOs. Check whether the SACCO has a valid certificate of registration from SASRA. Visit the SACCO offices listed and verify they match those published by SASRA. Engaging with licensed SACCOs protects your savings and gives you access to regulated financial services. Avoid any unregistered or unlicensed groups claiming to be SACCOs. SASRA Contacts for Verification and Complaints If you’re unsure about a SACCO’s licensing or need to raise an issue, contact SASRA directly. Location : 19th Floor, UAP Old Mutual Tower, Upper Hill Road, Nairobi Phone : 020 2935100 Website : www.sasra.go.ke Final Word Joining one of the 178 licensed deposit-taking SACCOs in Kenya is one of the best financial moves you can make in 2025.

Whether you’re a teacher, farmer, police officer, trader, or student, there is a SACCO that suits your financial needs. Always ensure the SACCO is licensed by SASRA to guarantee your safety and peace of mind.

Patrick Njoroge, Governor of Central Bank of Kenya

In October 2021, the mainstream media reported that the Central Bank of Kenya (CBK) had supported cash-strapped Spire Bank.

The exact amount of money given to Spire Bank by CBK was however not disclosed.

Parliament had opened an inquiry into the matter.

The National Assembly’s Finance committee was reportedly looking into a petition asking MPs to direct the banking sector regulator to urgently extend financial support to the teachers-owned bank pursuant to sections 34 and 36 of the CBK Act. READ: Spire Bank in panic after regulator cracks whip on Mwalimu National Sacco The inquiry follows a public petition filed by Alego Usonga MP Samuel Atandi on behalf of millions of teachers who invested in Spire Bank through Mwalimu National Sacco Society Limited.

Mr Atandi had wanted Parliament to direct the CBK to furnish it with a comprehensive report outlining efforts, if any, it has made or is making in terms of extending financial support to secure the savings of millions of teachers and other depositors across the country.

“Your petitioners humbly pray that the House, through the committee on Finance and National Planning urgently look into issues raised and recommend that the CBK extend financial intervention to Spire Bank limited to forestall imminent collapse, just like CBK has previously done for financial institutions which had similar financial challenges,” Mr Atandi said on behalf of the petitioners in October.

In May, CBK governor Patrick Njoroge said the regulator would grant the institution access to its discounted loan facility if it falls short of cash for its day-to-day operations in the short-term, including meeting customer demand.

The teachers’ sacco spent more than Sh2.4 billion between 2015 and last year to take full ownership of the bank, previously trading as Equatorial Commercial Bank, from late businessman Naushad Merali.

READ MORE

1/

https://nyakundireport.com/the-questionable-wealth-dangerous-maneuvers-of-a-tsc-auditor/

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https://nyakundireport.com/sasra-suspends-ceo-and-board-chairperson-of-mwalimu-sacco/

3/

https://nyakundireport.com/govt-blames-naushad-merali-for-the-fall-of-spire-bank-that-is-run-by-struggling-mwalimu-national-sacco/

Spire Bank branch

The management of the struggling Spire Bank, a teachers’ owned financial institution is in panic after the Sacco Societies Regulatory Authority (SASRA) cracked the whip on its sister firm. SASRA suspended the CEO and Board Chairperson of Mwalimu National Sacco, arguably one of Kenya’s largest Sacco, over fraud.

In December 2020, Mwalimu National Sacco (MNS) fully acquired Spire Bank from businessman Naushad Merali at a tune of Sh2.4 billion, taking up a 75 stake in the lender.

https://nyakundireport.com/sasra-suspends-ceo-and-board-chairperson-of-mwalimu-sacco/

Spire Bank (formerly Equaorial Commercial Bank) has struggled since acquisition by Mwalimu National Sacco. Teachers were lied to into buying a collapsing entity from the rogue Merali of Sameer Group.

Merali, a known shady businessman in Nairobi, later withdrew about Sh1.7 billion from the bank further denting its ability to stay afloat.

In the financial year ending in December 2020, Spire Bank returned a Ksh.1.3 billion loss, a loss three times wider than Ksh.472 million negative earnings in 2019.

https://nyakundireport.com/the-questionable-wealth-dangerous-maneuvers-of-a-tsc-auditor/

Interest expenses by the bank now topple earnings from lending activities while loan defaults at the financial institution are now equal to the bank’s entire loan book.

Moreover, the bank stares at the wrath of the Central Bank of Kenya (CBK) with its capital and liquidity ratio falling further in breach of regulatory provisions.

The bank has ‘eaten’ into Teachers’ savings.

With acquisition of Spire Bank, the destruction of teachers’ in Kenya is almost complete.

KNUT has been diluted by other Unions such as KUPPET and a woman led union Kenya Women Teacher’s Association (KEWOTA), which steals (takes forcefully) deductions from female teachers who have not signed up to it.

In the end then, is this the next bank to go into receivership?

Get out before it is too late

https://nyakundireport.com/be-wary-of-attempts-to-sabotage-knut/

The Sacco Societies Regulatory Authority (SASRA) has suspended the CEO and Board Chairperson of Kenya’s largest Sacco, Mwalimu National Sacco, over alleged fraud. Suspended Fraudster: Wellington Anjawo Otiende According to Sasra, they are investigating fraud amounting to billions of shillings with some media houses reporting that the two suspended officials were key in the eating of a Ksh. 52 Billion Mwalimu National Sacco asset base. After fraud allegations, members started selling their shares at a throw-away price from January this year. Most of the members have been announcing their aim to sell Sacco's shares in Facebook groups over the panic that it was going under. Suspended Fraudster: Mr. Alphonse Kaio In some cases, members complained of poor services from the Sacco's management raising alarm on SACCO's state. " Mwalimu Sacco I wrote a letter for you to stop my deductions this month and yet you deducted my money, why play cat and rat games, pissed off by this Sacco of yours" Shared a member in one of the Facebook groups in late May this year. "Selling my 26k share capital at 19k" Posted another member " I used to defend this Sacco much but ile day nilienda my nearest branch,, with my 22k shares nikaambiwa Sina dividends!!! Hadi wa leo naumia! " Lamented another member " Ppl are leavinMwalimumu Sacco cz Ince they joined Spire Bank loans have attracted very high interest. ppl are buying off Sacco loans for cooperative Bank & other bank loans " Shared a member in the Mwalimu Sacco group " The Sacco Board of directors should come up with a special loan of 13% interest per annum to buy off loans borrowed from commercial banks by Sacco members. The said commercial banks reap big from our members. Simple calculation: One pays interest of 20,000/- per month.1000 such loanees pay 20 m per month thus 240 million per year. Let this profit go to our Sacco " Share a member " How long does it take to exit the Sacco, " Asked a member The shell of a bank they purchased in the name of Spire isn’t helping things. MNS withdrew its money from the cooperative bank of Kenya and took it into Spire bank. Since then, it has been down a slippery slope, deteriorating. It is alleged that in 2014, all stakeholders in the cooperative sector-coop bank, Kuscco, sasra, ministry of cooperatives were all initially against the move to buy Spire bank but later changed tune and kept mum as the transaction took place. The directors and CEO of Mwalimu who made this unfortunate and unforgivable decision are known and now Kenyans are demanding they take personal responsibility for this mess. There are demands that a lifestyle audit is conducted for them and a dramatic change in lifestyle and asset base before and after 2014 will be seen. The bylaws of the Sacco and the cooperative societies act expects directors to act like ordinary men of business in any decision they make on behalf of members. It remains to be seen if members interest was a priority here or something else. Apart from that, there is a problem with corporate governance at Mwalimu Sacco that is being run like somebody’s toilet hence demands serious action on the same. A few months ago, we exposed Wellington Otiende who is working as an auditor at the Teachers Service Commission (TSC). We also revealed how he managed to be elected as a chairman to the board of management of Mwalimu Sacco. We reported that out of the five members of the board, 4 are his tribemates, and how he has managed to use the board to loot Mwalimu Sacco.

John Mwaka - CEO SASRA.

Many teachers wonder why despite the complaints over the looting at the Mwalimu National Sacco (MNS) a thing that threatens to collapse their livelihoods, the Ministry under which cooperatives fall under and SASRA is silent.

SASRA which stands for Sacco Societies Regulatory Authority is the body mandated with regulation, supervision, licensing and levy contributions in all Sacco Societies in Kenya. This is as per the Sacco Societies Act of 2008.

SASRA regulates deposit-taking Sacco societies and MNS falls under it.

Sources tell nyakundireport.com, that the silence of both the ministry and SASRA is very unfortunate because, 'they have been bought'.

When teachers pleaded with us to ask questions on their behalf, we reached the Principal Secretary, State Department of Co-operatives Mr. Noor Ismail whose docket the Saccos falls in, but our questions went unanswered. Mwalimu National Sacco has pocketed regulators - Source . SASRA too, whose CEO John Mwaka used to collude with former Commissioner for Cooperative Ms. Mary Mungai, 'to look the other way' as Saccos are being looted, has maintained the tempo.

He doesn't care about the economic effect of the collapse of Mwalimu National Sacco.

Evidence suggests that top managers at SASRA are on the payroll of Mwalimu National Sacco.

Officials at the Ministry too are on the payroll of MNS. The biggest beneficiary, as per sources is Mr. Noor Ismail who is alleged to have pocketed an eight figure sum.

All in the name of getting ahead through bribes while silencing teachers' voices. Ministry of Agriculture, Livestock, fisheries and cooperatives, PS State Department of Cooperatives, Ali Noor Ismail.

It follows that the lack of prosecution for board and managerial misconduct and criminal activities in the Sh1 trillion sector has emboldened both new and old cartels who don’t fear regulators as they ‘eat’ together.

In a functioning system, the board would be very different in thinking to most of the suggestions by the managers of the struggling Saccos. For example, the move by Mwalimu National Sacco to acquire Spire Bank shouldn’t have been accepted by the managers and the board of the Sacco if due diligence is anything to go by.

https://nyakundireport.com/is-mwalimu-sacco-going-under-due-corruption-and-embezzlement/

The two tire system of having managers and then the board should solve most of the rush decisions which end up eating into the revenues due to accepting bad investment decisions 28th MArch 2018 |PS State Department for Cooperatives Ali Noor Ismail, CBS (Right) witnessed the handing over of Mary Mungai the outgoing Commission for Cooperatives Development, to Didacus O. Ityeng’ who takes over the docket in an acting capacity. Geoffrey Njang'ombe has since taken over from Ityeng' ||

Mr. Noor and Mr. Mwaka are old hands in the looting and ‘looking the other way’ business. It would have been the prerogative of the Commissioner for Cooperatives which has a new CEO or the other bodies to raise the alarm.

Co-operative Alliance of Kenya has done well to seek answers on what ails Mwalimu National Sacco, but the response is yet to come.

https://nyakundireport.com/co-operative-alliance-of-kenya-seeks-answers-from-mismanaged-mwalimu-national-sacco/

It is more laughable that Ms. Mary Mungai, the former Commissioner for Co-operatives has been brought back from retirement, and appointed to Chair a five-member Ethics Commission for Co-operative Societies (Eccos) whose mandate is to promote good governance, enforce ethical conduct and anti-corruption reforms within the cooperative societies.

Going by her record as the Commissioner for Co-operatives, rest assured that there’s nothing good she will bring to the table in the 3 years she will be serving at Eccos.

Agriculture, Livestock, Fisheries and Cooperative cabinet secretary Peter Munya erred in this choice and it is a waste of taxpayers’ money.

Instead SASRA and Commissioner for Cooperatives Development need to up their game. EACC instead of SASRA In the three years I have concentrated on writing about rot in the Saccos, SASRA has often been blamed for being lame-duck.

No wonder the Ethics and Anti-Corruption Commission (EACC) boss Twalib Mbarak admitted receiving 400 complaints from Sacco members, only 16 of which were relevant to EACC. So what happens to the rest, the over 380 complaints?

If SASRA took its work seriously, such issues wouldn’t reach EACC.

Many Saccos had in the past failed to adopt risk management standards, leading to defaults and flouting of prudential requirements.

But the rot seems to be at SASRA, because at one point, staff at SASRA had complained about the agency. See link below:

https://nyakundireport.com/sasra-employees-call-on-dpp-noordin-haji-and-dci-george-kinoti-to-visit-their-offices-over-these-scandals/

EACC should look at the allegations of bribery to silence the truth financed through bribery by Mwalimu National Sacco managers.

PS Noor Ismail and SASRA boss John Mwaka should be picked up by EACC ASAP.

Wellington Otiende, Board Chairman of Mwalimu National Sacco and TSC auditor Mwalimu National Sacco (MNS) is having cash flow problems.

The shell of a bank they purchased in the name of Spire isn’t helping things. MNS withdrew its money from the cooperative bank of Kenya and took it into Spire bank.

Since then, it has been down a slippery slope, deteriorating.

It is alleged that in 2014, all stakeholders in the cooperative sector-coop bank, Kuscco, sasra, ministry of cooperatives were all initially against the move to buy Spire bank but later changed tune and kept mum as the transaction took place.

The directors and CEO of Mwalimu who made this unfortunate and unforgivable decision are known and now Kenyans are demanding they take personal responsibility for this mess.

There are demands that a lifestyle audit is conducted for them and a dramatic change in lifestyle and asset base before and after 2014 will be seen.

The bylaws of the Sacco and the cooperative societies act expects directors to act like ordinary men of business in any decision they make on behalf of members. It remains to be seen if members interest was a priority here or something else.

https://nyakundireport.com/is-mwalimu-sacco-going-under-due-corruption-and-embezzlement/

Apart from that, there is a problem with corporate governance at Mwalimu Sacco that is being run like somebody's toilet hence demands for serious action on the same.

A few months ago, we exposed Wellington Otiende who is working as an auditor at the Teachers Service Commission (TSC). We also revealed how he managed to be elected as a chairman to the board of management of Mwalimu Sacco. We reported that out of the five members of the board, 4 are his tribemates, and how he has managed to use the board to loot Mwalimu Sacco.

Further reports to CNYAKUNDI.COM confirm that Mr. Wellington Otiende has really messed up the Sacco by hiring his son going by the name Nick. Nick doesn’t even have a degree or a diploma but is running one of the major departments there and getting a salary that he doesn’t deserve.

The impunity at Mwalimu Sacco is really disgusting and Wellington and the rest need to be investigated and prosecuted. Teachers are really suffering out here and all because of one man.

Have a look at this extract showing how the board is fleecing the Sacco. Also, why should be board consist of TSC official from the headquarters, what's their interest? In the next series, we reveal more on Mwalimu Sacco in our investigative series