How should we understand 1970s Kenya, with its combination of inequality and relative political stability? This article offers a new perspective on that by following the early history of the Harambee Co-operative Savings and Credit Society—the most prominent of many such societies that grew in those years. The rise and crisis of this co-operative provides evidence of mismanagement and the pursuit of personal advantage—but also suggests that civil servants saw the importance of enabling wider accumulation. As a result, the lowest-paid employees of government could see through Harambee—and other co-operatives—a possible, if precarious, route to a future as property-owners. That possibility helps explain both the institutional strength of Kenya’s provincial administration (whose employees were the members of Harambee Co-operative) and how a substantial number of Kenyans could develop a sense of themselves as citizens with a stake in the political system.