Few years ago, Glen Kibet accompanied by his mother Mrs. Janet Keter visited Imarisha Sacco headquarters in Kericho town and opened a children’s parrot account. Little did they know that the same decision would be an opportunity to raise young Brian into an active and an enlightened saver at a tender age.
According to his mother, the urge to save for her child began when Glen’s elder brother school fee demand and pocket money for upkeep rose. This prompted Mrs. Janet to look for alternatives so that the young Glen could be financially secure while pursuing his studies in the future. While there were some many considerations as to where to save, Mrs. Keter chose Imarisha Sacco, convinced that the interests earned on savings were good.
Initially she made over the counter deposits and within a short period of time Glen was awarded the best savers award in a colorful event attended by delegates of Imarisha. “Am proud because I knew Imarisha offers the best, I went ahead to open the parrot account and now Glen can benefit and get some money for upkeep”, said Mrs. Keter.
Over the counter savings continued for a period of 7 months and she saw the need to place a standing order so that an amount will be deducted from her pays lip to the parrot account; this was an easier way to save and earning interest.
Glen’s efforts through his parents were recognized by the Sacco, and after winning the Parrot Account best savers award.
Benefits of children’s Parrot account
Parrot account is an account in Imarisha Sacco meant for young children age 1- 18 years. It is worth noting that the deposit by a member above Kshs. 5000 earn interest of 1.75% every year. This account allows parents/ guardians to cultivate saving culture among young children and also stand a chance to be awarded the annual best savers award.
One can open this account by visiting the nearest branch with the child/children’s name(s) and their passports, account minimum opening balance is Ksh.1000. Members who have shown interest and opened the account and have seen them start saving at an early age so that they will be financially independent in future and be able to earn interest on the accounts every year.
Members are urged to open these accounts so that the can be able to enjoy several other produces available in the Sacco.