By Wesley Ken.
Kimisitu Savings and Credit Co-operative Society Limited recently held its Nairobi Members Education Day during which members were trained on various aspects of Sacco operations.
This comes barely three months after the Society held its Annual General Meeting (AGM) to deliberate on performance and chart a future strategic direction for the Society.
Topics covered during the well-attended one-day training for Kimisitu Sacco members on 27th May, 2017 touched on Agribusiness, Real Estate and Transport Investment. This follows a survey that was conducted by the Society on the areas that majority of members wanted to be trained on.
In March 2017, a successful member education event was held in Kisumu. The occasion attracted more than 200 members against a target of 100 members.
The Member Education day for the Nairobi members is just one among major events on the Kimisitu Sacco calendar of events.
On 1st July 2017, Kimisitu Sacco will be participating in International Co-operatives Day or Ushirika Day – an annual event that has seen the Society bag several prizes and trophies.
The prizes won so far include: “2nd position Best Managed-Sacco in 2014”, “2nd position Loaning Services and Credit Management in 2015”, “3rd position Highest Dividend payout by a Sacco in 2014”, “2nd position in Training and Education Services in 2015” and 1st position Highest Attendance Society at the Ushirika day in 2016”.
Kimisitu Sacco also bagged 2nd position Best Insured Private Sector Co-operative in 2017. This served as a reflection of the trust that Kimisitu Sacco members have in their Sacco and in the co-operative movement in general as an avenue of empowering citizens.
Addressing members during the recent Education Day in Nairobi, Mrs. Florence Oile, Chairperson Kimisitu Sacco Society Limited, said recognition of the Society during Ushirika Day has energized the staff and the Board of Directors to go an extra mile in empowering the Sacco members economically by aligning the Society’s training to suit their financial needs.
She emphasized the need for recruitment of more members, owing to the correlation between members’ growth and increase in the Society’s deposits.
Oile said that by increasing deposits, the Society will be able to increase loans disbursed to members, at more affordable interest rates thus creating more wealth for members – the shareholders.
“As we graduate to tier one Sacco – which comprises of Saccos with an asset base above Sh 4 billion, it is in our interest to see members benefit from the FOSA business model. Members will enjoy good returns due to increased business volume, access cheaper/affordable banking facilities as well as convenient and accessible 24 hours’ services,” said Oile.
Kimisitu Sacco plans to upgrade its ICT systems to allow members apply for loans through their mobile phones and online. Guarantors will also be notified online so as to ensure excellent service delivery to members from the comfort of their homes or offices.