Ely Otieno joined Keystone Sacco, formerly Kisumu Teachers Savings and Credit Co-operative Society (KITE), over 20 years ago.
He has never regretted joining the Sacco but has instead been counting blessings as a member of the organization.
Otieno says he joined the Sacco in 1996 after starting off the teaching profession as a young visionary man.
He then secured a loan of Ksh40,000 which he used to build a semi-permanent house and also bought a bicycle and two cows while teaching at Dago Kokore Primary School.
Otieno says that he again secured another loan of Ksh400,000 which he used to buy a parcel of land.
“After servicing it I again took a loan of Ksh1 million which I used to erect a permanent house and also bought a car,” he says.
The KITE member says he has already secured an additional loan of Ksh2 million in which he intends to put up a much bigger house.
He used part of the cash to further his education and is now a proud holder of a Bachelor’s degree in Education.
He encourages other teachers to go for KITE loans since the interest is favorable and their money is secure.
At KITE Sacco there are packages via forms A to B which ensure that members can take both long-term and soft loans.
“KITE loans are good since they attract a reasonable interest rate compared to other lending institutions,”’ he says.
The Sacco’s membership has increased to over 10,000 in 2022.
By Fredrick Odiero
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