Maktaba SACCO

Maktaba SACCO is a savings and credit cooperative organization (SACCO) based in Kenya. It was founded in 1977 by staff of the Kenya National Library Services (KNLS) and has since grown into a leading SACCO in the country, drawing its membership from various government ministries, parastatals, non-governmental organizations, the private sector, and entrepreneurs. The SACCO is member-owned and operates on a cooperative model, pooling members' savings to provide affordable credit. The organization offers a range of savings and investment products designed to help members grow their wealth, alongside loan products tailored to different needs. Its loan portfolio includes the Uwezo Loan (long-term financing with repayment up to 96 months), the Karibu Loan (for new members who have contributed for at least three months), the School Fees Loan (up to Kshs. 200,000, repayable within the calendar year at 1.2% per month on reducing balance), the College Fee Loan (up to Kshs. 500,000, three times member deposits, repayable in 24 months at 1.2% per month on reducing balance), the Emergency Loan, the Development Loan, the M-Chapaa Loan, the Okoa Loan, the Weekend Loan, the Home Comfort Loan, and the Halal Savings & Loans product. It also offers a Retirees Scheme. Maktaba SACCO emphasizes financial education and member empowerment, aiming to equip members with the tools and knowledge to make informed financial decisions. Its vision is to be a leading financial institution offering dynamic financial empowerment to members through wealth creation, and its mission is to mobilize resources and offer competitive financial services. The SACCO is guided by core values of integrity, respect, teamwork, and professionalism, with a motto of "Growing together." As a member-owned institution, Maktaba SACCO is not listed on any stock exchange and operates as a private cooperative. It continues to promote a savings culture, financial inclusion, and financial resilience among its members and the wider community in Kenya.

Maktaba SACCO was founded in 1977 by staff of the Kenya National Library Services (KNLS). The name "Maktaba" is derived from the Swahili word for library, reflecting its origins among library service employees. Starting as a small savings and credit cooperative for KNLS staff, the SACCO gradually expanded its membership base to include employees from various government ministries, parastatals, non-governmental organizations, the private sector, and entrepreneurs. Over the decades, Maktaba SACCO has grown to become a leading SACCO in Kenya. It has developed a wide range of savings and loan products to meet the diverse needs of its members. Key product introductions include the School Fees Loan (with a maximum amount of Kshs. 200,000 and a repayment period within the calendar year), the College Fee Loan (with a loan limit of Kshs. 500,000, a multiplier of three times member deposits, and a repayment period of 24 months), and the Uwezo Loan (offering long-term financing with repayment up to 96 months). Other products such as the Karibu Loan, Emergency Loan, Development Loan, M-Chapaa Loan, Okoa Loan, Weekend Loan, Home Comfort Loan, and Halal Savings & Loans have been introduced to serve different member segments and needs. The SACCO operates on a member-owned cooperative model, where members pool their savings to provide affordable credit to one another. It emphasizes financial education and member empowerment, aiming to equip members with the tools and knowledge to make informed financial decisions. Its vision is to be a leading financial institution offering dynamic financial empowerment to members through wealth creation, and its mission is to mobilize resources and offer competitive financial services. As of the 2020s, Maktaba SACCO continues to serve its members across Kenya, promoting a savings culture, financial inclusion, and financial resilience. It remains a private, member-owned institution, not listed on any stock exchange.

• 2023

  Official website content updated in 2023, listing a comprehensive range of loan and savings products.

• 2016

  School Fees Loan and College Fee Loan product pages dated 2016, indicating these products were offered by then.

• 1977

  Founded by staff of the Kenya National Library Services (KNLS).

A member-owned SACCO focused on financial empowerment, savings culture, and affordable credit for Kenyan workers and entrepreneurs.

• Uwezo Loan

  A unique loan product designed to provide flexible and affordable financing options for members, with a repayment period of up to 96 months, ideal for long-term financing.

• Karibu Loan

  A loan product designed for new members who have been contributing to the Society for at least three months, ideal for those who have just joined and need financial assistance.

• School Fees Loan

  Tailored to meet the education needs of members and their dependents. Maximum amount Kshs. 200,000, repayable within the calendar year, interest rate 1.2% per month on reducing balance.

• College Fee Loan

  Designed to support members and their children attending college. Loan limit Kshs. 500,000, multiplier of X3 member deposits, interest rate 1.2% per month on reducing balance, repayable in 24 months, with loan top-up facility.

• Emergency Loan

  A loan product for emergency financial needs.

• Development Loan

  A loan product for development purposes.

• M-Chapaa Loan

  A loan product offered by Maktaba SACCO.

• Okoa Loan

  A loan product offered by Maktaba SACCO.

• Weekend Loan

  A loan product offered by Maktaba SACCO.

• Home Comfort Loan

  A loan product offered by Maktaba SACCO.

• Halal Savings & Loans

  Shariah-compliant savings and loan product.

• Retirees Scheme

  A savings and loan scheme for retirees.

1. 1Home - Maktaba Sacco - Secure Savings and Affordable Loansmaktabasacco.com
2. 2About Us - Maktaba Sacco - Secure Savings and Affordable Loansmaktabasacco.com
3. 3School Fees Loan - Maktaba Sacco - Secure Savings and Affordable Loansmaktabasacco.com
4. 4College Fee Loan - Maktaba Sacco - Secure Savings and Affordable Loansmaktabasacco.com
5. 5Maktaba SACCO - Wikidatawikidata.org