SACCOs are the best Saving avenues
SACCOs continue to be among the best Saving avenues.
They offered interest rates between 6.83% and 10. 55% in 2021.
Banks offered an interest rate of 4.02% on savings.
Here is how you can join a top ten best-performing Sacco in Kenya.
Metropolitan National Sacco is sixth in the list of best performing Saccos with a total asset base of Sh16.73 billion. The Sacco conducts a weekly financial literacy program dubbed Metro Business Café.
Metropolitan National Sacco has been in operation for over 40 years and has expanded to provide savings and loans services to Kenyans from a diverse walk of life.
The Sacco which started as Teachers’ only financial institution expanded to accommodate members from Government Ministries, Parastatals, Kenya Defence Forces (KDF), National Police Service, Public and Private Universities, Colleges, Academies and the private sector among others.
Therefore, the following can join the Sacco
- Salaried People
- Non Salaried People
- Business Entities
The membership requirements are as follows: One needs a passport photo, a copy of your National Identification Card, pay Sh 1000 membership fee, produce a recent payslip for the employed.
One is also required to fill out a membership form which can be downloaded from the Sacco’s website or taken from the Sacco’s offices in town
Metropolitan is regulated by the Sacco Societies Regulatory Authority (Sasra), with which it discussed with, its growth strategy anchored on diversification, customer service excellence and developed products.