Co-operative Bank of Kenya’s employer-based Sacco, NWDT Sacco Society, has been ranked the top performer among large and medium-tier non-withdrawable deposit-taking (NDT) Saccos, during Kenya’s 2025 Ushirika Day celebrations.
The award was conferred during the 103rd International Day of Cooperatives, part of a global campaign recognizing the role of cooperatives in advancing inclusive economic growth. This year’s theme carried additional weight, aligning with the United Nations’ declaration of 2025 as the International Year of Cooperatives.
NWDT emerged first in a category focused on Tier-2 employer-based Saccos with assets between KSh 5 billion and KSh 10 billion.
Evaluation criteria covered financial stability, member deposits, loan portfolio performance, governance structures, and adoption of digital channels.
Founded to serve employees of Co-operative Bank, NWDT operates as a closed-bond Sacco and has grown into one of the most stable players in its class.
Co-operative Bank CEO Dr. Gideon Muriuki welcomed the recognition, noting that the institution’s foundation remains deeply tied to the cooperative movement.
“Co-operative Bank of Kenya represents the purest expression of cooperative principles in modern banking. Our ownership by the cooperative movement is not just a shareholding structure, it’s a testament to collective ownership and mutual benefit,” he said.
With assets standing at KSh 774.1 billion and a client base exceeding 9 million, Co-op Bank remains the largest cooperative-owned bank on the continent. Its branch and agency model — comprising 211 branches and over 15,000 agents — has also anchored the bank’s reach in rural and peri-urban areas.
In 2024, the bank disbursed over KSh 14 billion to MSMEs via its MCo-op Cash mobile platform, underlining its role in broadening financial access.
The cooperative model continues to receive attention from policymakers, with new legislation such as the Cooperatives Bill No. 7 of 2024 currently under parliamentary review. The bill seeks to refine sectoral oversight and reinforce transparency across more than 30,000 cooperatives in the country.
Cabinet Secretary for Cooperatives Wycliffe Oparanya described the sector as a foundation for economic resilience.
“In Kenya, over 30,000 cooperatives positively impact agriculture, finance, housing, and health, advancing Vision 2030 and the UN SDGs and lifting millions out of poverty — from agricultural-based cooperatives to Sacco members — demonstrating the power of collective action,” he said.
Co-op Bank retains a majority cooperative shareholding of 64.5%, controlled by more than 15 million Kenyans through their respective societies.
