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IMARISHA SACCO RECORDS 12.07% ON ASSETS

Imarisha Sacco Society Limited recorded an impressive increase of 12.07% in asset growth to 9,251,602,383.20 and 13.08% in deposits to a tune of Kshs 5,848,789,639.82 as at 31st December 2017, the society’s chairman Mr. Mathew Ruto said this on Friday 20th when he unveiled the 29th Annual Delegate Conference at the Kericho primary school.

Mr. Ruto disclosed that payments of interests on members deposit was at rate of 10.58% and payment of dividends on share capital at rate of 9.92%.

C.S Membership
Energy Cabinet Secretary Charles Keter who was the chief guest accepted to join the Sacco as a member and promised to lobby government to give more support to cooperative movement in the country.

Saving culture
To promote the culture of saving and investments, the society also recognized best savers which are in its FOSA and BOSA services. The categories include public servants, teachers, Diaspora, corporate members, parrot and fixed deposits.

Loan products
Ruto announced that the Sacco has introduced new loan products among them Pamoja, Chapchap, Soko, muwa , Kilimo, Chama, Binafsi, Daraja loans. He said the new products will boost the society’s asset base and income.

Technology
The society has also adopted modern technology which includes the introduction of E-loan dubbed M-Ima loan, Agency banking, Digital Cyber centre, E-guarantors and Biometric system to improve on efficiency and service delivery to its members.

Fosa Senior citizen’s account
The Sacco at the same time launched a savings account that will enable its members save while still in service. This savings will cushion them as they wait for their pension which normally takes long after retirement

Marketing outlets
To increase its market base, Ruto announced, the society will soon open new outlets in Nairobi,Nakuru,Narok,Kilgoris and other target areas.
The delegates in the meeting adopted the chair report and the financial statements.

Press Release
Attn: Business Desk
For immediate Release

Asset Finance Product for Kenyans living in Diaspora is up for grabs!

Imarisha Sacco Society Limited has introduced an Asset Finance product, a self-securing loan product for the financing of lands, real estates or buildings. Imarisha Sacco is calling upon Kenyans living in the diaspora to acquire this loan product from Kenya’s leading savings and credit financial institution.

A title deed or a log book is needed as security for one to qualify for this loan product. The Sacco offers competitive rates and flexibility in repayment as you acquire new assets. The Sacco takes upon itself to develop property such as land, buildings or real estate on customer’s behalf while at the same time offering free investment education and timely advice to its members. In addition, Imarisha Sacco offers security of investment upon identification of property without the need for any additional guarantors.
Improved Performance

This new product comes in the wake of the Sacco’s successful growth rate of 13.1% of Ksh 5,848,789,639 in savings in the last financial year compared to Ksh 5,171,881,171of the previous year despite the tough economic times. Imarisha Sacco disbursed a total of Ksh 8,421,562,820 in 2017 compared to Ksh7,024,189,967 in 2016. This phenomenal growth is attributed to prudent management that has led to increase in customer base as well as transformative programs aimed at making the Sacco more vibrant.

The Sacco is banking on the goodwill from the society’s membership that include Kenyans living in the diaspora and good management that has led to increase in membership through prudent savings and credit facilities.

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.

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.

Press Release
Attn: Business Desk
16th March, 2018
For immediate Release

Imarisha Sacco Society Limited records growth
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 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.
#Ends#

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imarishabanner2Save your weekend date for a rewarding venture. Meet financial experts from Imarisha Sacco Society Ltd for a training program on personal financial empowerment.
The training known as Education Day by Imarisha Sacco Society Ltd will be held on Saturday, 17th March, 2018 at 10 am at the following venues: Roret (Tulwet Primary School), Bureti (Litein Primary School), Sotik (Kaplong Girls Primary School) and Ndanai (Ndani Primary School).
Please do not miss this rare opportunity to acquire yourself knowledge on financial matters. Doors are open to all. Come one, come all #ImarishaNyumbani

Uhuru

Imarisha Kebo Plaza being officially opened by His Excellency Hon. Uhuru Kenyatta, C.G.H. Commander-in-Chief of the Defence Forces on Friday 9th December, 2016.

Get Intouch

Imarisha Sacco Building,

Kericho town P.O Box 682-20200,

Nairobi, +254720 290 222

kerichohq@imarishasacco.co.ke

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