The SACCO movement remains one of the significant pillars of personal and economic growth. We have more than Twenty-Three Thousand registered Saccos with an asset base of close to a trillion Kenyan shilling.  It is estimated that over 14 Million Kenyans are part of a Sacco this compares to roughly Three Million Kenyans who are part of a formal retirement benefits scheme. Part of the reason why the sector has grown is because of the continued financial literacy and the need to save and borrow for individual developments. The key question then becomes, what should I look at as I seek to join Sacco? Below are some of the key things one needs to put in mind as they make big decisions:

1. Understand the Sacco you are joining: with over Twenty-Three Thousand Sacco’s and with most having an open bond, one is left with a lot of questions on which Sacco is best. To ensure you are engaging the right organization, look at the governance and the historical governance setting process of the Sacco. A review of the individuals running the Sacco and reviewing their professional standing is important. It is good to join a Sacco that is professionally run and the people leading should have the professional qualifications and experience to make the right decisions. The size of the Asset base can also help show the amount of faith that people have in it;
2. Joining costs and the minimum regular contributions: Different Saccos provide for differing amounts it is therefore important that one chooses a Sacco whose minimums are within what they can comfortably contribute;
3. Ensure you know other members in the Sacco: One of the main reasons that people join the Saccos is the access to cheaper credit. To access credit, it is important that you have guarantors, most of the people who guarantee you are people known to you since they take the risk of if you do not pay they pay. With this regard it is good you join a Sacco with people you know and that is why company-specific or professional based Saccos continue to grow;  
4. Review historical returns: In as much as past performance is not a guarantee of future performance, in most cases, the future can be predicted from the past. Looking at what the Saccos have delivered to the members would help show how much one stands to gain by investing in the said Sacco;
5. Product diversity: people join Saccos to either get access to higher returning savings accounts, to have access to credit, or to get access to other available products at good prices among others. The more offerings a Sacco has the better it is if you joined as it has more choices;
6. Status of innovation and adoption of technology: We are living in a very digitally-led world, it is therefore important that one is around institutions that are relatively highly innovative, both from a product and processes perspective. The adoption of Fintech is a key driving force that will differentiate the adaptability of the Saccos going forward as they are competing with banks at all levels.  
7. Other benefits When one is joining the Sacco a review of the other additional benefits that come along is key. Some of the considerations may include among others; i) Training opportunities ii) Business networking events iii) Access to other products at discounts iv) Ability to serve may be in the board and other committees

It is good to note that Saccos play a key role in the overall financial planning process and they are largely used for the attainment of our long-term financial security’s goal. Making the right decision on which Sacco to join is therefore key.