How it works

After a member’s application has been received and approved by the Board of directors, a member is free to participate in the products of their choice. It is important to note that the main savings account is mandatory for every member and one may not participate in other products if they are not, first, a member of the Main Savings account.

As a member, you can apply and qualify for a loan – personal, emergency, education, holiday, land purchase, construction, NSE Shares purchase, Treasury bills and bonds purchase loans and others loans – of upto five times (5x) or ten times (10x) your Sacco savings.

Interest rates: You will pay back the loan at 8% interest rate (for US$ loans) and 15% interest rate (for Kenya Shillings loans). The interest rates are fixed for the first five (5) years and are charged on reducing balance.

Repayment period: 12 months to 20 years depending on the type of loan. No penalty is charged if you opt to repay the loan faster.

Membership may be lost in the event of:

  1. Expulsion as per the Kenya USA Diaspora Sacco society’s by-laws
  2. Death
  3. Unsound mind
  4. Transferring all the shares to another member
  5. Failure to remit share contributions and loan repayments for a continuous period of 6 months without valid reasons or leave from the society
  6. Voluntary withdrawal or resignation from the cooperative society


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The popularity of the recently unveiled Kenya USA Diaspora Savings and Credit Cooperative Organization (SACCO) has soared with its official