Can One Join Two Saccos in Kenya? [2022]

Can One Join Two Saccos in Kenya?

Credit and savings cooperatives, Saccos has revolutionized Kenyans over the past decade, with one out of five Kenyans belonging to a Sacco. It is because of the benefits that come with belonging to one. Talk about the saving culture, investment opportunities, and dividends. Many Kenyans have found their financial freedom the moment they joined a Sacco.

Due to the remarkable pleasure that resides in belonging to a Sacco, you could be wondering if one can belong to more than one of such institutions. Maybe you want to be a double beneficiary or have a dream of funding many development programs. The truth is, there is no law barring you from doing that.

However, you will have to consider the following factors.


Reputation is a major key factor to look into before joining any Sacco. It is vital to know how long the Sacco has been in operation, whether they have an online presence or not, their registration number, and physical offices. There have been cases of people losing their hard-earned money to some pyramid schemes masquerading as Saccos.

You can do your search or report any suspicious institution to the Sacco Society Regulatory Authority (SASRA), a government body mandated with the responsibility of putting checks-and-balance on such institutions. It will give you the desired confidence before committing to one.


Before settling for a second Sacco, it is crucial to know the rates at which they issue dividends to their members. You should give dividends a priority depending on the shares you are going to purchase. Dividends are an important factor to consider, apart from loans. Higher shares should translate to higher dividends.

There are Saccos which give dividend above 20%, yet, there are some which can to even reach 5%. While you should not join a Sacco which will strain you financially, commit to the one which will give you the highest return, with the amount you can afford.


You will need guarantors when you want to borrow loans. So go to a Sacco where you know at least three people who will act as your guarantors. Many have found themselves in critical situations and forced to use collateral to obtain loans since they cannot find enough guarantors.

Different Saccos offer several options when it comes to giving out loans, so you should choose the one which suits your desires. It may be unwise to be in a Sacco where you cannot get loans because you either don’t have guarantors or they don’t accept collateral.

Investment Opportunities

Though Saccos are mainly formed to nurture a saving culture among members and provide opportunities to take loans, many provide different investment opportunities. Investments such as venturing into real estate have good returns and offer quick development members.

You will be more confident if you join a Sacco licensed by SASRA since they know the ones engaging in legit projects. Find out which of the investment opportunities suit your interest and will give you the returns you are looking for.


Choose a Sacco that will convenience you in terms of technology. Many Saccos have considered technology in their operations, making it convenient to deposit contributions, withdraw money, and make purchases without having to appear physically at the offices. This will save you time and money.

You would also choose Sacco which has integrated services such as automated bookkeeping, budget management, and digitalized saving plans. The technology employed by Sacco should also be transparent and easy to follow by all members.

Parting Sort

It is a wise initiative to tap into as many investment streams but it should not be important to the extent of sinking you into financial constraints. You should consider any financial complications that joining a second Sacco can usher you into before taking the step.

Categories: General

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