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Waumini Sacco

Waumini Sacco Membership

SACCO membership · Regulated by the SASRA

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.

Hear when this changes

What to watch out for

  • No declared dividend or deposit rate appears on any page of the site. The BOSA page says deposits 'Earns interest annually' and share capital 'Earns dividends annually' with no percentage. The FAQs say returns come 'in form of Dividends on shares or Interest on deposits' with no rate. The fixed deposit page says 'Very attractive interest rates' with no figure. No annual report is published.
  • The July 2026 Sacco Updates Circular is a scanned PDF with no text layer. No figures can be quoted from it.
  • 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. Covers the member only.
  • Waumini is entry 173 on SASRA's 2026 register of licensed deposit-taking Saccos.

The details that matter for this kind of plan

Registration fee
KES 500 once
Share capital
KES 15,000 in KES 500 monthly instalments
Minimum monthly deposit
KES 1,000
Benevolent fund
KES 100 monthly, covers member only
Dividend rate
Not published on any page read
Interest on deposits
Not published on any page read
Fixed deposit rate
Not published on any page read
Corporate membership
KES 5,000 registration, KES 60,000 shares

How to open this

  • Open with KES 15,000
  • then KES 1,000 a month

What does it cost you?

Taken off each payment you makejoining, once, as a registration feeKES 500
Admin chargeyou every month, for the insurance risk fundKES 100

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.

What they tell you

  • What is taken off the money you pay in?
    KES 500, taken from joining, once, as a registration fee.
  • What is the smallest amount you can start with?
    KES 1,000.
  • Do they say who regulates them?
    Yes — the SASRA. That is who you complain to.

Talk to them

Compared with the others

There are 222 other plans of this kind on the board. See all 223 side by side — what each one leaves you with, and which of them will not say.

What the documents actually say

Every figure above was read out of a document. These are the sentences, word for word, so you can check them rather than take our word for it.

Where we got this