By Tsozungu Kombe.
Ushuru Sacco will continue to leverage on new and emerging innovations in order to improve service to its members, sacco’s National chairman, Mr. Isaac Kiprop has said.
He said the sacco launched in 1970, is an institution focused on the provision of credit and related payment technologies.
Speaking during the sacco’s Annual Delegates Meeting (ADM) held in Mombasa County, Kiprop said the organization was stable despite the economic turbulence associated with interest rates law.
Mr. Kiprop said that the sacco will ensure that all its products are tailor made to meet the expectations of members.
He said that interest on loans and advances increased by 24 percent, while total income net of interest rebates on members deposits (proposed) increased by 14.2 percent, compared to the previous year (2015).
During the year under review, the Sacco recorded a 14 percent increase in total assets with members’ deposits and loans growing by 13.6 percent and 13 percent respectively.
The interest on members’ deposits proposed went up by 14.2 percent, while proposed dividends on share capital went up by 21.9 percent in comparison to the previous years (2015).
He said that with strategic positioning, the Sacco stands to reap from the positive turnaround.