Bank Review: The Co-operative Bank of Kenya Limited—Everything you need to know

Co-op Bank also owns 3 subsidiary companies: Kingdom securities limited, Co-op Consultancy & Insurance Agency Limited (CCIA), and Co-opTrust Investment Services Limited.

Bank Review: The Co-operative Bank of Kenya Limited
Bank Review: The Co-operative Bank of Kenya Limited

The Co-operative Bank of Kenya Limited (Co-op bank) is a financial institution that provides banking, loan, investment, and insurance services to individuals, companies, and cooperative societies.

Co-op Bank also owns 3 subsidiary companies: Kingdom securities limited, Co-op Consultancy & Insurance Agency Limited (CCIA), and Co-opTrust Investment Services Limited.

This article covers the products and services offered by Coop bank, their benefits, and how to access them.

History of The Cooperative Bank of Kenya Limited

The Cooperative Bank of Kenya Limited (Co-op bank) was initially registered as a Cooperative Bank in 1965. It started operations on the 10th of January, 1968 with a capital base of Ksh 255,000 ($2,185.97) and Mr B. Kathanga as the company’s chairman.

Co-op bank became a full-fledged commercial bank in 1994 with the power to provide full financial services to individual, corporate, co-operatives, and institutional customers.

The bank underwent major structural and personnel changes in 2003. Its headquarters was moved back to its original location- Cooperative Bank house- that was destroyed during the 1998 bombings.

Co-op bank’s chairman was also replaced by Mr Hosea Kiplagat while the bank's former general manager, Mr Gideon M. Muriuki, was promoted to Managing Director.

In 2009, the bank increased its customer accounts from 700,000 to over 1.1 million. It also expanded its branches, increasing from 52 to 74 branches.

Today, it has more than 7.5 million customers and 4000+ employees. It has also won numerous awards over the years for its innovative and accessible bank products.

Dr Gideon Muriuki is currently the Group Managing Director & CEO of Co-op bank.

The Cooperative Bank Foundation

The Co-operative Bank Foundation (Co-op Foundation), established in 2007, is a foundation created by Coop Bank to promote social and economic growth in Kenya.

Through its scholarship initiative, the foundation has sponsored the high-school education of 6,825 students in Kenya.

The Co-op Foundation is focused on improving the following sectors in Kenya:

  • Education
  • Agriculture
  • Youth & women
  • Health
  • Environment

Over the years, the foundation has partnered with the Ford Foundation, EDP, GIZ, Yusudi, and various Kenyan ministries to implement different programmes.

You can learn more about the impact of the Co-op foundation here.

Products offered by The Cooperative Bank of Kenya Limited

The Co-operative Bank of Kenya Limited (Co-op Bank) offers a range of products and services.

These products and services are grouped into 5 categories: Personal banking, business banking, corporate and government banking, institution banking, and cooperative banking.

Personal banking

These are bank accounts and loans suitable for individuals living in Kenya. Some of the Coop bank accounts and loans offered to individuals are:

Current Account

A Co-op bank current account can be used to deposit and withdraw money anytime. The bank charges a monthly fee of Ksh. 300 ($2.57) to maintain the account.


  • One referee
  • The original and copy of your ID card or passport
  • A minimum amount of Ksh 5,000 ($42.86) is required to open the account
  • A copy of your Kenyan Revenue Authority (KRA) PIN

Salary Account

A Coop Bank salary account is for individuals that earn a monthly income. The account can be used to apply for personal loans offered by Coop bank. No amount is required to open the account.


  • The original and copy of your ID card or passport
  • A passport photograph
  • Employment letter or letter of introduction written by your employer
  • Ksh. 600 ($5.14) to apply for a debit card
  • A copy of your KRA PIN certificate

Hekima Savings

A Hekima savings account is a high-interest account that is suitable for individuals that want to save and earn interest on their money. Coop bank calculates the interest earned daily and pays it in the account quarterly. No amount is required to open the account but account owners can only withdraw once every quarter.


  • The original and copy of your ID card or passport
  • A Copy of your KRA PIN

Other personal accounts are Jumbo junior (children account), Goldfish access account, Youth account (YEA access account)

You need to visit a Coop Bank branch near you with the required documents to open a personal account

Personal loan

A personal loan is for individuals that need extra money to pay bills, school fees, medical fees, etc. A minimum amount of Ksh 50,000 ($428.62) and a maximum amount of Ksh 4,000,000 ($34,289.74) can be borrowed for up to 96 months. The loan approval is processed within 48 hours.


  • Borrowers must be employed or have a regular source of income
  • The original and copy of your ID card or passport
  • The original and copy of your PIN certificate
  • A copy of your KRA pin
  • Salary payslips for the last 3 months

Pesa iko MCo-opCash (Mobile loans)

These are loans that can be accessed via a mobile phone. Users can easily borrow between Kes 1,000- 500,000 ($8.57-$4,286.22 )for 3 months.  


  • You must have a Co-op bank account
  • A copy of your KRA pin

To apply for a mobile loan, simply dial *667# or apply via the bank’s mobile app, Mco-op Cash.

Other types of personal loans are Asset finance, Flexi-cash salary advance, and Mkopo wa Kujengana.

Business banking

The Co-operative Bank of Kenya Limited (Coop Bank) has a suite of bank accounts, loan products and training programs tailored for micro, small and medium businesses.

Coop Bank’s MSME products were created in partnership with the International Finance Corporation (IFC), Kenya National Chamber of Commerce and Industry (KNCCI) and the Government of Kenya (GOK).

Its business banking solutions products are grouped into 3 tiers: gold, silver and bronze.

Some of the bank accounts and loan services offered by Coop Bank are:

Haba na Haba account

This account is suitable for micro and small businesses in Kenya. Haba na Haba account holders can access business loans and withdraw funds anytime they want. A minimum amount of Ksh 500 ($4.29) is required to open the account.


  • A copy of the business owner’s National ID Card
  • A copy of the business KRA PIN

Business current accounts

Business current accounts have access to free monthly e-statements, trade finance, and non-financial services. A minimum amount of Ksh 500 ($4.29) is required to open the account. Here is a table listing some of the features of gold, silver, and bronze business current accounts:





Minimum opening balance

Ksh 1,000($8.57)

Ksh 2,000($17.14)

Ksh 10,000($85.72)

Monthly maintenance fees

Ksh 2,000($17.14)

Ksh 1000($8.57)

Ksh 100($0.86)

No monthly maintenance fees 

If the minimum balance in the account is kSH 500,000 ($4,286.22 )

If If the minimum balance in the account is kSH 200,000($1,714.49)

If the minimum balance in the account is kSH 50,000($428.62)

Credit card 

Eligible up to Ksh 500,000 ($4,286.22 )

Eligible up to Ksh 100,000($857.24)

Available on request 

Cash handling fees


Depends on the current tariff

Depends on the current tariff

Relationship Manager 




Insurance (group cover)

Free permanent and total disability cover worth Ksh 1,000,000($8,572.43)

Free permanent and total disability cover worth Ksh 500,000($4,286.22 )

Free permanent and total disability cover worth Ksh 100,000($857.24)


  • A copy of the business owner’s National ID Card
  • A copy of the business KRA PIN

Ecommerce solutions (Chapa Pay)

Chapa Pay is a product developed by Coop Bank that allows business owners to receive online payments via their websites, WhatsApp and social media accounts.

Some of the features and benefits of Chapa Pay are:

  • Merchants without a website can use Chapa pay to receive payments from customers
  • Merchants do not incur charges when they use the Chapa Pay (Pay by link) option
  • Chapa Pay protects the funds of merchants and customers
  • Chapa Pay is reliable and easy to integrate on websites
  • Chapa Pay merchants get access to direct support from Coop Bank’s operations team.  

To get started, simply fill the form on its webpage here. You can also learn more about Chapa Pay by sending an email to

Co-op Bank MSME Insurance

Coop Bank offers insurance products that are specially tailored to businesses. Coop Bank’s MSME insurance includes:

  • Personal accident cover
  • Micro cover
  • Asset insurance
  • Last expense cover
  • Burglary risks cover

Co-op Bank MSME term loan

Coop Bank’s MSME term loans are for businesses to expand or increase their supply capabilities. MSME loans have a maximum repayment period of 60 months. Here are the features of MSME accounts based on the business account type:





Unsecured term loans (amount)

Ksh 10,000,000

Ksh 6,000,000

Ksh 600,000

Repayment period for unsecured term loans

Maximum of 24 months 

Maximum of 24 months 

Maximum of 24 months 

Partially secured term loans (amount)

Ksh 15,000,000

Ksh 8,000,000

Ksh 3,000,000

Repayment period for secured loans 

Maximum of 60 months 

Maximum of 60 months 

Maximum of 60 months 

MSME overdraft working capital

Coop Bank’s MSME overdraft working capital allows businesses to access additional funds from their accounts when their balance is zero. These loans have a maximum repayment period of 12 months and they depend on the level of the business.

Other types of Coop Bank’s business loans are Asset finance,

Business, mortgage and construction loans, Mkopo Wa Kujengana, Import duty financing, MSME overdraft working capital, Msamaria women’s loan, Overdraft, and Supply chain financing.

Corporate and institution banking

These are a range of banking solutions offered to corporate businesses, institutions, and government organizations. They are grouped into 3 categories: corporate banking, institutional banking, and government and public sector banking.

Corporate Banking

These are cash management, loans, and trade finance solutions for corporations. Some of the services Coop Bank offers to corporations are:

  • Operational accounts and investments
  • Working capital and LPO financing
  • Invoice Discounting
  • Asset Finance and leasing
  • Short terms loans and overdrafts
  • Collection and payment Solutions
  • Guarantees in the form of a letter of credit and bid bonds

Government and Public Sector Banking

These are financial services tailored to government institutions and public sector companies. Some of the services include:

  • Government current account for operations
  • Integrated revenue collection accounts
  • Project accounts for development projects
  • Funds disbursement for social payments through Coop Bank’s online channels
  • Foreign exchange and remittance services
  • Trade finance solutions
  • Investment solutions in the form of High return call and fixed-term deposit accounts

Institutional banking

These are financial products and services made for NGOs, diplomatic missions, public sector organizations, donor agencies, embassies, faith-based organizations, insurance companies, private entities, educational institutions, professional bodies, trusts, etc.

Co-operative banking

Coop Bank offers financial, advisory and training services to cooperative societies through its subsidiary, Co-op Consultancy & Bancassurance Intermediary Limited (CCBI).

Since its creation, CCBI has worked with different farmer groups and co-operative related enterprises like USAID, FEMO, Land O’ Lakes, Coop Africa, etc. worldwide.

Some of the services offered by CCBI to cooperatives are:

  • Business operations review
  • Insurance through its Bancassurance portal
  • Feasibility studies, market research, product development, and business plan preparations
  • ICT evaluation and software procurement services
  • Human resource, strategic planning, and change management

Diaspora banking

These are Co-op Bank financial products and services for Kenyans in the diaspora. Some of these products are:

Transactional accounts (Jamhuri)

Jamhuri accounts are for Kenyans in the diaspora to perform bank transactions from anywhere in the world.

The account can transact with KES, USD, GBP OR Euro currencies. A minimum balance of KES 5,000, $100, £100 and €100 must be used to open the account.


  • A duly filled and signed application form
  • A copy of your passport or Kenyan ID
  • Documents that show your current address
  • A copy of your PIN certificate
  • A passport photograph
How to open a Jamhuri bank account
  1. Download the Jamhuri application form here
  2. Specify the currency you want to operate the account with
  3. Attach copies of your Kenyan identification card or passport (first page, second page, last page, and the renewal page)
  4. Attach a coloured passport photograph
  5. Attach a copy of a utility bill (e.g. electricity, telephone bill, etc.) or bank statement confirming your current postal address.
  6. Make sure the documents are certified by either of the following:
  • A notary public
  • A commissioner for oaths
  • The Kenyan embassy or High Commission.
  • A Bank or a Co-op Bank diaspora agent. You can find authorized Coop Bank diaspora agents in 13 countries here.
  1. Email the filled form and certified documents to, You can also submit them to a Coop Bank diaspora agent.

Fixed & call deposit accounts

These are diaspora accounts that earn interest over time. The interest rate is fixed when the account is opened. A minimum amount of KES 50,000, €5,000, £5,000, and $5,000 is required to open the account.


  • One passport-size photograph
  • An original and copy of your identity card
  • Your PIN certificate

Other types of diaspora bank accounts are Business current account and Jumbo (Childrens) account.

Kenyans in the diaspora can also access Coop Bank’s investment, loan, mortgage, and insurance products. You can get started by visiting the Coop Bank diaspora online channel here.

Additional products and services offered by The Co-operative Bank of Kenya

The Co-operative Bank of Kenya (Co-op Bank) offers investment and insurance services through its other arms and subsidiaries.

Good Homes Mortgages

Good Home Mortgages is an arm of Coop Bank that provides clients with mortgages and approved homes for residential and commercial use.

Some of the features of Coop Bank’s mortgage service are:

  • Plans that cover the purchase and construction of homes
  • Mortgage plans can be applied and paid for with KES, USD, GBP, and EUR
  • Personal account managers that walk you through the entire process
  • Flexible and competitive rates

Good Home Mortgages is available to Individuals, SMEs, Corporate companies, Co-operatives, and Kenyans in the Diaspora.

You can learn more about Good home mortgages and browse through available properties on its website here.

Kingdom securities limited

Kingdom Securities Limited (KSL) is a subsidiary of the Co-operative Bank of Kenya Limited. It is a Capital Markets Authority (CMA) licensed stock brokerage firm that is supported by 140 Coop Bank branches in Kenya.

Kingdom securities limited offers the following services:

Online share trading (OST)

This is a web-based trading application that provides investors with real-time access to the Nairobi securities exchange (NSE). It works on both computer and mobile-based systems. Some of the features and benefits of KSLs online share trading platform are:

  • Investors get direct access to their CDS accounts
  • Access to real-time data that includes pricing, supply and demand volumes.
  • Information on the companies listed on the exchange

Transfer immobilisation

KSL oversees the processing of deposit share certificates of listed companies in a CDS account.

Advisory and Brokerage Services

KSL acts as placement and sales agents for firms and organisations looking to raise money on the NSE platform. It also facilitates securities transactions between buyers and sellers.

Individuals, foreigners, Kenyans in the diaspora, businesses, and corporations can create a CDS account and trade on KSLs platform.

You can learn more about the services KSL offers by visiting its website here.  

Coop Bank also offers the following investment products to individuals and business: CO-OP Trust Wealth Management Services, treasury bills, treasury bonds, custody and investor services, and fixed income & money market products

Co-op Consultancy and Insurance Agency Limited

Co-op Consultancy and Insurance Agency limited is a subsidiary of Coop Bank that offers insurance products and advisory services to individuals, businesses, co-operative societies, and Kenyans in the Diaspora. The entire suite of insurance products offered by Coop bank is easily accessible through its Bancassurance portal.

The products and services offered by Coop Bank’s subsidiary fall under the following categories:

You can learn more and sign up for Coop Bank’s insurance products by visiting a Coop Bank branch or contacting its bancassurance team here.

Money transfer with Coop Bank

Coop Bank has made it easy for its customers to send and receive money locally and globally. Its money transfer channels include:

How to send money from MPesa to Coopbank

MPesa is one of the ways you can send money to a Co-op Bank account. You can deposit money to coop Bank via MPesa by :

  • Visiting the Lipa Na MPesa portal
  • Choose the paybill option.
  • Enter Coop Bank’s business/paybill number. Coop Bank’s paybill number is 400200
  • Input the recipient Coop Bank account
  • Input your MPesa PIN and confirm the transaction
  • You will receive a text message confirming the transaction

How to send money from a Coop Bank account to MPesa/Airtel money via USSD code

Coop Bank account holders can send money to MPesa or Airtel money via the bank’s app or USSD code. To send money via USSD:

  • Dial *667# on your mobile phone
  • Enter your 4-digits Mcoopcash Pin
  • Choose option 2 Send money
  • Choose Option 1 To mobile money
  • Choose the service provider (MPesa or Coop Bank)
  • Input the recipient’s number
  • Select account to debit
  • Enter the amount and confirm the transactions

How to access Coop Bank’s products and services

Coop Bank mobile banking (MCo-op Cash)

You can access your bank accounts and some loan services via Coop Bank’s USSD code or mobile banking app known as MCO-op Cash. With MCo-op Cash, you can:

  • Deposit or save money
  • Apply and pay for a loan
  • Send money to other bank and MCo-op accounts
  • Send money to other mobile money services like MPesa and airtel money
  • Withdraw money at a Co-op agent or Co-op ATM
  • Buy airtime
  • Pay bills
  • Pay for goods and services
  • Buy, sell or transfer shares

You can register for Coop Bank’s mobile service by visiting a Coop Bank branch with your National ID or Passport.

You can also register by following the prompts when you dial *667# on your mobile phone or download the app from the PlayStore or AppStore.

Co-op Bank cards

Based on their account type, Coop Bank offers its customers VISA Debit, Credit, Prepaid, and Platinum cards which they can use at any COOP Bank ATM or agent location. Coop Bank cards can be used to:

  • WIthdraw or deposit money
  • Pay for transactions online where VISA cards are accepted
  • Buy airtime
  • Check for account balance  

You can find a COOP Bank agent near you here. You can also find a Coop Bank ATM here

Co-op Kwa Jirani (Coop Bank’s agency banking service)

These are individuals authorised to carry out transactions on behalf of Coop Bank. With a  Co-op Kwa Jirani agent, you can:

  • Withdraw and deposit cash
  • Transfer funds to other accounts
  • Pay for school, college, or university fees
  • Check your account balance
  • Request for a mini account statement
  • Pay bills to service providers and government agencies

Coop Bank’s internet banking

The Coop Bank online portal allows its customers to carry out banking transactions through a computer, tablet or mobile phone.

All you need is a valid phone number, National ID and a Coop Bank ATM to register for the bank’s internet banking service. You can get started by visiting its online platform here.

Coop Bank’s cash deposit machine (CDM)

The Coop Bank cash deposit machine (CDM) is a self-service machine that customers can use anytime to deposit money into any Coop Bank account. You can only deposit up to KES 300,000($2,571.73) per transaction and KES 999,950($8,572.01) in a day.

Frequently asked questions

What is Coop Bank’s paybill number


What is Coop Bank’s contact address

Head office: Co-operative House, Haile Selassie Avenue, Nairobi, Kenya

P.O. Box 48231 - 00100, Nairobi

You can find a Coop Bank branch here. Kenyans in the Diaspora can find an authorised Coop Bank agent here.

What is Coop Bank website

You can visit its website:

What is Coop bank’s customer care number

You can speak to a Coop Bank customer care agent by calling 020 277 6000 or 0703027000.

You can also fill out the form on its website here, send an email to or send a WhatsApp message to +254736690101

What is Coop bank’s USSD code

Simply dial *667# on your mobile phone.

What is Coop Bank’s SWIFT code


Is Coop Bank on social media

Coop Bank is active on Facebook, Instagram, Twitter, LinkedIn, YouTube and Tiktok.


The Co-operative Bank of Kenya offers products that fit your every financial need. From bank accounts to insurance, your needs are covered.

It has 13 agents over the world and bank branches around Kenya. Its website is easy to navigate and you can get the information you need without worrying.

The one downside is that most of the bank’s services need to be accessed at a physical bank branch. Only some loan offerings and the diaspora accounts can be comfortably accessed from a mobile phone.