Imarisha Sacco Society Limited recorded an increase of 13.1% in savings in 31/12/2017 to a tune of Ksh 5,848,789,639 compared to Ksh 5,171,881,171 recorded in 31/12/2016.
In share capital, the Society recorded an increase of 17.9% to an average of Ksh 17,000 for every member as at the 31/12/2017 compared to Ksh 16,000 in 2016.
In total loans disbursed in the last financial year, the society recorded an increase of 19.9% from ksh 7,024,189,967 in 2016 to ksh 8,421,562,820 in the period under review.
Society chairman Mr. Matthew Ruto attributed the growth to prudent management that has led to increase in customer base as well as transformative programs aimed at making the Sacco more vibrant.
“The management is exploring other transformational strategies such as investing on technology delivery of quality services to make the society more vibrant and responsive to the needs of the customers,” said the chairman.
Ruto made the remarks over the weekend on 17th March, 2018 at Ndanai Catholic Church in Bomet County during an induction workshop on education/information which included Society’s progress and growth, financial wellness and prudent investment opportunities. Induction workshops were done simultaneously in Bureti, Roret and Sotik.
He called on members to save and invest wisely by way of topping up shares to earn interest, reduce loan balance with dividends and fix for a period of six months to earn interest
Despite the challenges posed by electioneering period in the last year 2017, the Chairman pointed out, goodwill from the society’s membership and good management has led to increase in membership through prudent savings and credit facilities.
He projected an increase of membership from the current 64,120 members to 100,000 in the next financial year as well as increasing the loan book.
The Society offers competitive products in FOSA, BOSA and micro credit which offers friendly services such as fixed deposits at 2% higher than commercial banks, loans, advances and innovative products such as M-Imarisha to its customers from all walks of life.
Imarisha Sacco Society Ltd is one of Kenya’s leading savings and credit cooperatives offering financial services to its members.
The Sacco was first registered in 1978 as a teachers’ Sacco but has since opened its doors to all professionals and entrepreneurs from all walks of life.
The Chairman, Imarisha Sacco Society Ltd, Mr Mathew Ruto addressing the members during an induction workshop at Ndanai Catholic Church.