Mwamba takes Times U Sacco to new heights

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Feb 18, 2017
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By Munene Maina
Catherine Mwamba is associated
with all the remarkable achievements
and milestones that Times
U Sacco has been able to record under
her watch as the Chief Executive Officer.
Since joining the Sacco eight years
ago, Mwamba has been instrumental is
charting a new path for Times U Sacco.
“It has been a fulfilling journey for
me here at Times U Sacco. Although
we have had a fair share of challenges
along the way, we have managed to survive
and remained strong and still growing,”
said Mwamba.
It is through her knowledge and
expertise in management, patience
and endurance that Times U Sacco has
been able to expand its network to five
branches and now has over 35 employees.
“Times U Sacco has been able to
change livelihoods of members and this
has been most fulfilling to me,” said
Mwamba.
She added that it is always a delightful
moment whenever a member shows
gratitude to what Times U Sacco has
done for them. It is under her watch
that Times U Sacco has grown its membership
to over 27,000, has BOSA and
FOSA units, all offering over 15 products.
The Society has so far disbursed
loans to members to the tune of Sh 1
billion since it was registered.
“The exponential growth that we
have achieved is through prudent management
and support from the board of
directors,” said Mwamba.
She said any director who defaults
on loan repayment is barred from serving
in the Society. Times U Sacco has
earned several awards in Meru County
as the best managed Sacco. It also
stands out in timely delivery to customers
while offering products and services
that meet the member’s ever changing
financial needs.
The Society has opened its common
bond and has attracted members from
other sectors of Meru County.
Formerly Uruku Rural Sacco Society,
Times U Sacco was registered in
1993 as a rural based Sacco It has since
expanded beyond serving members in
Uruku to others beyond Meru.
“We are committed to walk the talk,
based on our slogan “Our Timely Financier”.
We ensure our members are able
to grab the opportunities as they come,”
said Mwamba.
She notes that Times U Sacco has
been educating members on the need of
borrowing wisely.
A mother of two, Mwamba who is
also a wife said there is no incident
where she has been discriminated based
on gender. Times U Sacco has a third of
the board of directors who are women.
Born in Uruku, Imenti South,
Mwamba is always grateful that she is
serving her community. As a young girl,
a polite Mwamba had a liking for airplanes
and had an ambition of becoming
an air hostess.
After completing
her secondary
education
at Kathiani
High school,
Mwamba could
not enroll for
a course to
become an
air hostess.
Instead, she
e n r o l l e d
at Meru
Te c h n i c a l
C o l l e g e
where she
unde r took
a course in
a c c o u n t –
ing. She
later joined
Kenya Institute
of
M a n a g e –
ment for
a diploma
and Kenya Methodist University for a
Bachelors degree in Business Administration.
“I feel at home working for a financial
institution. Serving has always been
a calling to me. When I retire, I will
take up counseling,” says Mwamba who
is currently undertaking her masters at
Meru University.
“Young girls should aim for higher
goals, struggle to be the best and be second
to none. One should first complete
career studies before family responsibility
set in,” said Mwamba as they are
number two to nobody and do it early
before family responsibilities come.”
She says she has learnt a lot from her
Sacco’s members whom she notes have
been good ambassadors, patronizing all
products and faithful in repayment. “We
have a loan repayment of 97 percent,
that’s encouraging,” she says.
Besides expansion, the CEO is looking
forward to capitalize on virtual
banking.

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