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Sheria Sacco

Sheria Sacco Membership

SACCO membership · Regulated by the SASRA

What is this?

You join a co-op owned by its members. You buy KES 20,000 of shares and save every month. Each year the surplus is shared: 16% on shares and 11% on deposits for 2024. Most people join for the loans, up to three times their savings.

The details that matter for this kind of plan

Paid on deposits for 202411%, up from 9.5% in 2023
Paid on shares for 202416%, the same as 2023
What it takes to joinKES 20,000 of share capital
If the Sacco failedSASRA's guarantee fund refunds deposits up to KES 100,000 — its own FAQ says so
Leaving60 days' written notice; shares transfer to another member
Who can joinAnyone over 18 with an income

What does it cost you?

Sheria Sacco does not publish what it charges. We looked for 2 charges and found no figure for any of them:

  • · A co-op has no management fee in the fund sense; its running costs come out of the surplus before the rate is declared. The annual report gives the totals, not a per-member charge.
  • · Neither the FAQ nor the annual report states a registration fee.

What if you stop paying?

Your shares and deposits stay and keep earning what is declared. Loans need you in good standing.

What if you need the money early?

You leave on 60 days' written notice. Deposits come back; shares do not. You transfer them to another member.

Who this suits

It could work for you if

You want a yearly payout from a Sacco that shows its books. You may also want loans against your savings.

Think twice if

You may need everything back. KES 20,000 of what you put in can only be sold on, not withdrawn.

How openly does this company explain its charges?

CLeaves real gaps10 of 15 answered
  • What do they charge you every year?
    A co-op has no management fee in the fund sense; its running costs come out of the surplus before the rate is declared. The annual report gives the totals, not a per-member charge.
  • What is taken off the money you pay in?
    Neither the FAQ nor the annual report states a registration fee.
  • What does it cost to get out early?
    No exit penalty is printed in the sources we checked.
  • What is the smallest amount you can start with?
    KES 20,000.
  • How long is your money tied up?
    2 months.
  • Is the advertised return before or after their charges?
    Before charges. Their fees still come off this.
  • Do they warn you the return is not guaranteed?
    No warning appears next to the figure, even though it is not a promise.
  • Do they tell you what you get back if you stop early?
    You get whatever your money is worth on the day. There is no schedule.
  • Do they list what is not covered?
    This is not insurance, so there is nothing to exclude.
  • Are all their charges published?
    No. 2 charges are mentioned without a figure.
  • Do they say who regulates them?
    Yes — the SASRA. That is who you complain to.

This grades how openly things are explained, not whether the plan is good or bad. See how we work it out.

Things to know before you sign

  • · The 16% and 11% are the board's proposal for 2024 in the Sacco's own annual report, up from 16% and 9.5% in 2023. Nothing says next year matches.
  • · Share capital is KES 20,000 minimum, non-withdrawable, transferable to another member on leaving.
  • · Leaving takes 60 days' written notice. Loans go up to three times your savings; civil servants must keep a third of pay after deductions.
  • · Sheria's FAQ explains SASRA and its deposit guarantee fund, which refunds up to KES 100,000 net of loans if a Sacco fails. It is entry 116 on SASRA's 2026 register.

Talk to them

Compared with the others

There are 17 other plans of this kind on the board. See all 18 side by side — what each one leaves you with, and which of them will not say.

How current is this rate?

The 11% on this page is the rate Sheria Sacco last declared, as at 2024-12-31 — over a year old.

What the board proposed on qualifying deposits for 2024 in the Sacco's own annual report — 11%, up from 9.5% in 2023 — alongside 16% on share capital, the same as 2023. Declared after the year ended; nothing says next year matches. Sheria's longer-term Mavuno savings paid 8.5% (5-year) and 10% (10-year)..

This is the most recent figure Sheria Sacco publishes, not the most recent figure that exists. Ask them what the current rate is before you decide anything on the strength of it.

Where we got this