Verona Huruma Regulated Non-Withdrawable Deposit-Taking (NWDT) Sacco has been urged to consider transitioning into a fully deposit-taking Sacco, even as it posted strong financial growth for the year ending December 31, 2025.
Speaking at the Sacco’s Annual General Meeting, Nairobi County Director of Cooperatives Dolphine Aremo called on members and leadership to prepare for the shift, noting that several Saccos have already upgraded their status this year. She said moving to a deposit-taking model would position the institution for broader financial services and increased competitiveness.
Aremo also urged members to actively take up loans, arguing that lending remains central to Sacco growth and sustainability. She added that transitioning to a deposit-taking model would enable the institution to expand its product offering and deepen financial inclusion.
The call comes as the Sacco reported a 12.4% growth in total assets to Ksh 3.72 billion, up from Ksh 3.31 billion in 2024. Member deposits rose by 11.2% to Ksh 2.88 billion, while loans and advances increased to Ksh 1.21 billion, reflecting sustained demand for credit.
Revenue grew by 10.3% to Ksh 459.7 million, supported by a 12.1% rise in interest income to Ksh 335.3 million. Share capital recorded the highest growth, jumping 38.4% to Ksh 198.1 million, strengthening the Sacco’s capital base ahead of any potential transition.
Core capital rose to Ksh 508 million, with key ratios remaining above regulatory thresholds. Core capital to total assets stood at 13.7%, while core capital to deposits was 17.7%, both significantly higher than minimum requirements.
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Membership increased to 21,607, with 1,285 new members joining during the year.
Despite the growth, expenses rose by 11.7% to Ksh 97.7 million, attributed to expansion and operational investments. The Sacco also grew its investment portfolio to Ksh 2.17 billion.
The Sacco declared a 20% dividend on share capital and 11% interest on non-withdrawable deposits.
During the year, the Sacco also invested in digital banking upgrades and rolled out new member-focused initiatives, including mortgage products and welfare programme changes.
By Obegi Malack
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