IMARISHA SACCO RECORDS 12.07% ON ASSETS
Imarisha Sacco Society Limited recorded an impressive increase of 12.07% in asset growth to 9,251,602,383.20 and 13.08% in deposits to a tune of Kshs 5,848,789,639.82 as at 31st December 2017, the society’s chairman Mr. Mathew Ruto said this on Friday 20th when he unveiled the 29th Annual Delegate Conference at the Kericho primary school.
Mr. Ruto disclosed that payments of interests on members deposit was at rate of 10.58% and payment of dividends on share capital at rate of 9.92%.
Energy Cabinet Secretary Charles Keter who was the chief guest accepted to join the Sacco as a member and promised to lobby government to give more support to cooperative movement in the country.
To promote the culture of saving and investments, the society also recognized best savers which are in its FOSA and BOSA services. The categories include public servants, teachers, Diaspora, corporate members, parrot and fixed deposits.
Ruto announced that the Sacco has introduced new loan products among them Pamoja, Chapchap, Soko, muwa , Kilimo, Chama, Binafsi, Daraja loans. He said the new products will boost the society’s asset base and income.
The society has also adopted modern technology which includes the introduction of E-loan dubbed M-Ima loan, Agency banking, Digital Cyber centre, E-guarantors and Biometric system to improve on efficiency and service delivery to its members.
Fosa Senior citizen’s account
The Sacco at the same time launched a savings account that will enable its members save while still in service. This savings will cushion them as they wait for their pension which normally takes long after retirement
To increase its market base, Ruto announced, the society will soon open new outlets in Nairobi,Nakuru,Narok,Kilgoris and other target areas.
The delegates in the meeting adopted the chair report and the financial statements.