Apstar Sacco, formerly Ukulima Sacco recently opened its ninth branch in Meru County at Greenwood City Mall.
The eight other branches are in Nakuru, Kisii, Kisumu, Eldoret, Nairobi, Embu and Kakamega counties.
Meru Governor Kawira Mwangaza, who graced the opening ceremony lauded the Sacco for expanding its presence across the country.
“We are grateful that the Sacco has expressed a commitment to promote financial literacy, foster a savings culture, offer affordable credit facilities, and provide accessible and reliable financial solutions equitably within our community,” she said.
The Chief Executive Officer (CEO) of Apstar Richard Nyaanga said the management and the board saw it wise to extend services close members in the eastern region.
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He said that the membership of the Sacco covers all 47, adding, “Meru is a rich and potential area in almost all activities including agriculture and more so we were informed by the Central Bank’s decision to have a branch in Meru, which tells you the kind of collections in terms of money and economic transactions that take place here.”
“Meru County has 1600 members in our Sacco compared to a population of almost 1.5 million people.”
He lauded the Government for establishing a Cooperatives and Micro, Small, and Medium Enterprises (MSMEs) department which he said will empower Saccos to recover more from the shocks of the Covid-19 period.
According to National Chairman Philip Cherono, said the Sacco was started 1972 and now it asset base of more than KSh15 billion, and deposits of Sh11 billion and a loan book of KSh12 billion.
“We want to support community development and the government’s efforts in enriching its people so that Kenyans can have access to food, clothing, and shelter as well as educating their children,” said Cherono on the aim of establishing a Sacco in Meru.
He explained that the change of Ukulima to Apstar Sacco was to give the society countrywide visibility because the former name mean meant that they could only target government employees from the agricultural sector.
“For a long time, cooperative movements, especially Saccos were started by people employed in various sectors of our economy. This was not right because it became like institutions for higher income earners leaving out the rest,” said Cherono.
By our reporter
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