By Ben Wafula.
Bungoma-based Ng’arisha Savings and Credit Co-operative Society, formerly Bungoma Teachers Sacco has been recruiting new members from neighbouring counties.
According to Benedict Simiyu, Ng’arisha Sacco chairman, while the Sacco has been operating in the County, it has now extended its reach and is seeking new members in Busia, Kakamega, Vihiga and Trans Nzoia.
While addressing delegates during its recent Annual Delegates Meeting at Iko resort in Chwele, Simiyu disclosed that the Sacco membership had grown to 11,649 as at December 31, 2015 compared to 10, 966 in 2014.
“At Ng’arisha Sacco, we are operating in an efficient manner and want more members to join us. Our charges are pocket friendly and ideal for those seeking to take a loan so as to expand their business,” said Simiyu.
Figures indicate that the Society’s turnover increased to Sh260 million up from Sh224 million realized in 2014. During the same period, members’ deposits increased to Sh 873 million from 823 million, a 62 per cent increase.
Mackline Wamukota, the Ng’arisha Sacco CEO said the Society’s loan portfolio as at December 31, 2014 was Sh691,529,723 compared to Sh760, 031,835 in 2015, a growth of Sh68, 502,112.