Yetu Sacco is gearing up to launch a new branch in Chuka town, in a move meant to bring services closer to members.
The new branch, which will be launched on June 19, 2023, will bring the total number of branches to eight.
Speaking during the Society’s 31st Annual General Meeting (AGM), Sacco Board Chairman Mark Gitonga said the Sacco has been recording massive growth across all market parameters.
In the year ending December 2022, the Sacco’s assets hit Ksh5.37 billion, making it a tier 1 Sacco.
This year, the Sacco set aside Ksh290 million for paying dividends from Ksh240 million the previous year.
Revenue grew by 13.6 per cent and the Sacco invested excess liquidity of 46 per cent in 2022, which is way above the regulator requirement of 15 per cent.
A total of 6,743 new members joined the Sacco last year.
CEO Dennis Kirimi attributed the success to the introduction of a free pay bill platform that has enabled members to save remotely, as well as an adopted Microsoft 365 for emailing that enhances effective and efficient collaboration among the staff in executing their service delivery mandate.
He noted that as a result of the interactive portal that digitizes registration, members are able to join the Sacco without having to fill in hard forms.
By Vostine Ratemo
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