Kisumu Teachers Sacco rebrands as more members expected to join it
By Dickson Odhiambo
March 13, 2022
Kisumu Teachers Sacco
rebrands as more members expected to join it
The Giant Kisumu Teachers Savings and Credit Cooperative
Society has rebranded and changed its name to Keystone Sacco as more people are expected to join it.
The Sacco’s Chief Executive Officer Allan Kawa says this is
a milestone in the development and expansion of the 40 years plus Sacco
that was established purely for teachers as its members.
Addressing the Sacco’s 44th Annual General
Meeting at Kisumu Museum, the Sacco’s CEO Allan Kawa said they are now gearing
towards expanding the Sacco’s boundaries beyond Kisumu County as well as
embarking on the recruitment of more members to make it more vibrant hence this
has prompted the change of the name to Keystone Sacco.
Kawa says the Sacco has expanded and has been registering
new members who are not teachers, adding that they include private security
employees.
He says the Sacco’s vision is to have financial inclusion as
many people as possible with the rebranding of this giant Sacco.
“I believe that Sacco is the best vehicle for someone to
achieve financial independence because we have a strong member focus, we
emphasize on savings and have the cheapest loans in the market,” he says.
He says the Sacco has begun to recruit members from Homa
Bay, Siaya and Migori among other areas within Western Kenya region.
The Sacco’s Chief Executive Officer says they have embarked
on operating a micro-credit section, adding that this is a very different model
from the Check –off system since this is going to deal with business people,
Group and other Small and Micro-enterprises.
He adds that this will help in bringing more deposits and
adding more members to the Sacco as it grow bigger and bigger.
“Apart from the salaried people we have as members, we are
now opening our doors to other small scales business people and groups to come
and join the Sacco,” he adds
He further says that the Sacco has witnessed an increase in
its dividends to its members, adding that it will pay a dividend of tem percent
to its members.
He says the Sacco paid dividend totaling to about shs 23
million during last year but will now pay shs 27.5 million to its members.
The Sacco’s Chairman Esau Ogada described the rebranding of
the Sacco as a major milestone towards its development.
The Kisumu Teachers Sacco begun in the year 1977 with only a
few members and since then it has grown and has marked 45 years of its
existence.
According to current chairman of its Board of Director Esau
Ogada, the Sacco now has 7,814 members in the year 2021.
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