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Waumini Sacco

Waumini Sacco Membership

SACCO membership · Regulated by the SASRA

What is this?

You join a co-op owned by its members. You pay KES 500 to register, build KES 15,000 of shares in instalments, and save at least KES 1,000 a month, plus KES 100 for the risk fund. The site does not say what the surplus pays.

The details that matter for this kind of plan

What it takes to joinKES 500 to register, KES 15,000 of shares in KES 500 monthly instalments, KES 1,000 a month minimum deposit
Every month, on topKES 100 to the insurance risk fund
Declared ratesNot published on any page read
Fixed depositFrom KES 1,000 (its own page) or KES 30,000 (its savings listing) — the two pages disagree
Your sharesNon-refundable but transferable on withdrawal
Corporate membershipKES 5,000 to register, KES 60,000 of shares

What does it cost you?

Taken off each payment you makeKES 500
Admin chargeKES 100
Yearly charge on your moneynot disclosed
  • · A co-op has no management fee in the fund sense; its running costs come out of the surplus before the rate is declared, and are not itemised for members on these pages.

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?

Deposits come back when you leave. Shares are not refunded; you transfer them to another member.

Who this suits

It could work for you if

You want clear joining terms in writing and a Sacco with a Catholic community bond.

Think twice if

You want the declared rate before you join. It is not on the site.

How openly does this company explain its charges?

CLeaves real gaps9 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, and are not itemised for members on these pages.
  • What is taken off the money you pay in?
    KES 500, taken from joining, once, as 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 1,000.
  • How long is your money tied up?
    They do not say how long you are tied in.
  • Is the advertised return before or after their charges?
    This product does not advertise a return.
  • Do they warn you the return is not guaranteed?
    This product does not advertise a return.
  • 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. 1 charge is 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

  • · No declared dividend or deposit rate appears on any page read. The site does not publish annual reports or financial statements.
  • · The fixed deposit page says KES 1,000 minimum start-up; the savings products listing says KES 30,000 for the same product. The two pages disagree.
  • · Share capital is KES 15,000 for individuals, payable in KES 500 monthly instalments. It is non-refundable but transferable on withdrawal.
  • · Every member pays KES 100 a month to the insurance risk fund, on top of the KES 1,000 minimum monthly deposit.
  • · Waumini is entry 173 on SASRA's 2026 register of licensed deposit-taking Saccos.

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.

Where we got this