wadau, which is a good sacco that you can really use for personal or business investment, with good returns , interests ama kukua tu na some savings & cash reserves.
Usiku sacco na @johntez addi gaza msafi
Your success kwa sacco depends on your guarantors. Join a sacco that you know people can guarantee you anything incase you default .
afadhali tukae bila kujoin sacco if our intention is to default tukipewa loan ya nguvu
Wrong and wicked move. You should look for strong guarantors to ensure you can get a good amount of loan without necessarily pegging on your shares but not for them to pay for your negligence.
There is a publication of the best saccos over the last few years. Take a look at it and decide which one you want to join. But make sure there are some members you know well in the one you join.
Sacco ni za watu financially blind. Unakopeshwa pesa yako, na ya guarantor wako. Si wewe na huyo guarantor mkopeshane huko nje bila kupea sacco pesa yenu iwakopeshe?
Wajiga ndio wali, wao. Wajinga ndio waliwao
Your point is totally off the mark.
Your comment, though correct at face value, lacks context for the following reasons:-
[ol]
[li]Very few Kenyans will have say kshs. 3m as and when you need it hence the Sacco way,[/li][li]Saccos offer you an opportunity to pay yourself first which opportunity will be challenging to most Kenyans were they to make alternative arrangements. Look at the low saving rate and defaults on insurance policies for insight,[/li][li]Sacco lend at three times your saving hence with a million, you can go in for a 3m investment,[/li][li]Part of the interest you pay eventual comes back in for of dividends and interest on deposits,[/li][li]Banks view most Kenyans as meffi unworthy of loans,[/li][li]Nimechoka kutype wengine waongezee.[/li][/ol]
As @Abba has pointed out, a bigger determining factor is the ability to get guarantors upon borrowing. What i always advice is; join a sacco where your buddies or colleagues are already members. That way, the hustle of introducing yourself to strangers at the point of borrowing is eliminated. Alternatively, marshal your buddies and relatives mwingie kama kirende mtakua mki guarantee one another na mtu akidefault mnajua where to get their @ss at. It would help if you have a title to some outback land or a logbook to a car you aint attached to as some saccos accept that as alternative security though discounted.
To the OPs query about a good Sacco, the options below are worth looking at. This is not an endorsement that negates the need for individual appraisal. Here we go:-
[ol]
[li]Police Sacco (Kuanguka sii rahisi coz Kenya Police, which is the mother organisation, will always be there. Wide branch network),[/li][li]Stima Sacco (the mother organisations KPLC, KENGEN, KETTRACO et al will always be there. Prone to dodgy management at times. Wide branch network),[/li][li]Waumini Sacco (apparently based on “christian values” and have a number of strong organisations backing it. Have a microfinance department that may be ideal for businesses and groups),[/li][li]Balozi Sacco (competent management and a strong backing by reputable organisations including the UN),[/li][li]Mwito Sacco (One of the few Saccos i have seen corporate governance practiced beyond its peers),[/li][li]Sheria Sacco (Leading in best practice. Insulated somehow from politics since the board is composed mainly of busy people who have no time for sideshows)[/li][li]Nimechoka kutype[/li][/ol]
@magreb shida yangu ni kidogo. niko na 1m nataka 3m, guarantor ni marafiki zangu wawili, savings zao combined ni 2m. Mbona tusikopeshane wenyewe outside the sacco? Ile 3m nitakopeshwa na sacco ni ile savings yangu na savings ya guarantors, nothing more.
You are making the assumption that your friends will have the 2 million at hand to lend you which isn’t always the case. Secondly, under what framework will they lend you seeing as it is that they are also peasants and might not be so comfortable lending to you? Thirdly, assuming that among you mko na 3m mbele na nyuma, what happens after one of you borrows the 3m to be repaid in 3 years and another ninja shows up requiring say 500k?
You and your guarantors are better covered under a sacco. Your combined 3m savings entitle the whole lot to borrow upto 9m as and when a need arises. As such, we could have you borrowing 3m guaranteed by the rest then next month, another member of your cohort borrows say 2m guaranteed by the same guys.
Well laid
Balozi sacco.we have Ekeza savings which gives you 11perc interest after 181 days.its a great sacco
Kimisitu sacco is great too
LSK Housing Sacco and Sheria Sacco are good to be in. Both have lawyers who religiously read the financials of the organisation.
Stima Sacco epuka tafadhali. The mismanagement of KPLC is beginning to infect it. HTH
Yes it is
As it has been said above, research on the saccos where your friends have saved so as to be your guarantors
What about Unaitas?
alafu if you are govt employed, huezi kua in more than 2 saccos?
I actually think the law bars anyone from being in two SACCOS