Sheria Sacco embarks on massive member education drive

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Apr 25, 2017
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By Kiptanui Rutto.

Sheria Sacco Society recently carried out trainingfor its members in order to meet its Strategic Plan and to attain its vision of being the best provider of quality services to members.
The massive member education programme is not only aimed at creating awareness about its products and services but also increase membership, income and growing the loan book. This is in line with its 2014-2018 Strategic Plan.
This will certainly empower the Savings and Credit Co-operative Society and give it a renewed energy to execute its mission of empowering its members economically and socially through mobilization of resources and equitable provision of affordable services.
With the countrywide programme, Sacco members have had an opportunity to mingle share with the Society’s directors and staff who visited different stations around the country.
The Society has recorded significant growth over the years. In the year 2015, its total revenue grew from Sh411.6 million recorded in year 2014 to Sh530.6 million, representing a 29 per cent growth.
The surplus before tax grew from Sh93.6 million in the year 2014 toSh179.1 in year 2015 representing a 91 per cent growth.
The Share Capital closed at Sh125 million compared to Sh83.1million recorded in the year 2014, representing a 50 per cent increase. Members’ non-withdrawable deposits increased by 15 per cent from Sh2.5 billion reported in year 2014 to Sh2.9 billion in the year 2015. The Society’s loan book grew from Sh2.6 billion in 2014 to Sh3.4 billion in 2015.

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