About Kenya Bankers Sacco

Our History

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Kenya Bankers Sacco Background

Kenya Bankers Sacco was officially registered in February 14th 1975 as a Savings and Credit Co-operative Society.  It however didn’t start its operations immediately because there was resistance from the banks that this was another union.  It took several discussions, meetings with the management of the founding bank employees to convince them that the Sacco was mainly to complement their services to their staff, e.g. issue personal loans to complement what the bank was giving.


To be the financial services provider of choice that empowers it members.


To provide affordable financial services to our members and customers for wealth creation through deposits mobilization and prudent management.

Core Values

  1. Agile
  1. Innovativeness
  1. Integrity
  1. Responsive


Why the Sacco was started?

At that time, most if not all banks were only giving staff loans to senior management team, and thus, the middle and lower management  felt they were not financially progressive and this prompted a few straight forward thinking employees to consider coming together to pull resources for their own benefits. At that time, Harambee, Mwalimu and Nacico Sacco were gaining ground, and hence the bankers also wanted something of their own.

It then started off with nine members who were mainly officials at the time until the first election was held about the same year, and Mr. Benjamin Nzioka was elected as its first Chairman. The initial founding members were mainly drawn from Central Bank of Kenya (CBK).


The first members of the Sacco as earlier advised were mainly drawn from Central Bank of Kenya (CBK). The membership then spread to KCB and finally to all financial institutions. For several years since its inception, membership was strictly from the banking industry. However, in the late 1990s, especially when the banking industry employment was undergoing turmoil with a series of retrenchments, the membership was opened to other financial intuitions like micro finance, building society insurance firms and a few corporates like NSSF, Multi choice etc. In the recent past the Sacco has expanded to accommodate chamaas and members’ spouses and children above 18 years, who are in gainful employment.

The current membership is over 25,000 members.

 Office operations

The Sacco’s first office was at Tusker house, along Ronald Ngala Street where we shared space with a shoe shiner at the entrance next to the stair way, before we got an office on 2nd floor. We then later moved to Afia house, next to Globe cinema round about.  From Afia House, the Sacco office moved to four way towers, next to Jevanjee gardens. The Sacco then acquired its own building at Kenbanco house where it then relocated. At Kenbanco, the Sacco occupied one wing on a floor, and leased out the rest of the space. The demand for office space to lease increased, and thus the Sacco opted to lease out the entire building and moved to ICEA Building where it occupied two floors.

In a rather twist of events, original Sacco members started claiming ownership of Kenbanco and moved to court where after several court battles, the ownership was bestowed to the original members. The move was mainly to cut off new members from benefiting from what they didn’t contribute for.

After occupying ICEA Building for several years, the Sacco acquired land in upper hill and constructed the Kenya Bankers Sacco center at 3rd Ngong Avenue in upper hill. In 2005, the Sacco moved to its new building in upper hill and has been there to date. This is its head office.

Staff Establishment

The Sacco started off without employees and most of the errands were run by the Sacco officials. The first employee was recruited in 1978, and during the same year a total of three employees recruited. The Sacco has grown to a total of 97 employees.

Branch Network

As the initial members continued to go for aggressive marketing in other banks in other regions outside Nairobi, there was need to open up offices in those areas for seamless and efficient service delivery. It is for this reason that Mombasa, Nakuru, Meru, Kisumu and Nyeri branch were opened in the late 1980s. Later on, the Sacco has opened more branches including Nairobi, Eldoret and the most recent branch in Kakamega. In total, there are 8 branches.

KBSACCO Portfolio

The Society’s core business is to mobilize savings from the members and thereafter lend it to them at an affordable interest rate.

At inception, the member contribution was kes 5. This was then increased in the following sequence, to kes. 20, 50, 300, 1,000, 2000, and finally to kes. 3,000 which is the current minimum monthly contribution. Additionally, the Sacco also introduced a risk fund in early 2000 to act as an internal insurance scheme. The risk fund which is contributed by each member monthly has grown from kes. 200 to kes 400.

All Members are required to own 1000 shares of Kes 20 each at a minimum share capital of Kes 20,000/=

The total membership contribution as at 31st December 2018 stood at Kes 5.79 B, whereas the current Sacco asset base stood at Kes. 7.58B

KBSACCO Annual events

The most important events at the Sacco are as follows:

1.    Annual Delegates Meeting (A.D.M)

2.    Annual General Members Meeting (A.G.M)

3.    Member Education Seminars

4.    Co-Operative Day (Ushirika )-1st Saturday of July



Product and Services

  1. Savings Products
    1. Main Savings - 3000 Per Month
    2. Risk and Benevolent Fund - 400 Per Month
    3. Education Savings - 1000 Per Month
    4. Micro Savings - 500 Per Month
  2. Loan Products
    1. Karibu Loan
    2. Development Loan
    3. Super Loan
    4. Asset Finance Loan
    5. Education loan
    6. Micro Loan
    7. Expres Loan
    8. Boresha Maisha Loan
    9. Afya Imara
    10. Smart Life
    11. Mobile Loans


1.   Education and Training

The Board lays a lot of emphasis on education and training its members which is conducted annually.

2.   ICT (Information And Communication Technology)

The Sacco has modern technology which is upgraded continuously.


3.   M-Banking

It has enabled members to access their funds and our Sacco facilities regardless of geographical location and beyond the conventional business hours.

4.     1st  Tier Sacco

The Sacco is ranked as a first tier Sacco; from its roots it has made a tremendous achievement.


The Sacco has made a tremendous growth in the industry over the years. From a membership of 9 in 1975 to over 25,000 members as at December 2018, from a small office sharing space with a shoe shiner to a magnificent office building in the high end region of upper hill. The Sacco has served its members over the years and still makes sure the members are satisfied. With all this, the Sacco is proud to be rated as a billion shilling Sacco.


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