Close

BANKING

Cooperative Bank supports Sacco under new restructuring program

In Summary

• Metropolitan National Sacco is one of the largest Saccos in the over 15 million member co-operative movement.

• Under it’s Corporate Restructure Program, the Bank has restructured the Sacco’s funding requirements to better manage the members’ monthly loan demands as well as the overall liquidity flows aimed at a complete turnaround of the Sacco.

CoopBank's Vincent Marangu.Metropolitan's Ag.CEO Benson Nganga Mwangi.Chair Christopher Karanja.Vice Chair Lucy Kuria
CoopBank's Vincent Marangu.Metropolitan's Ag.CEO Benson Nganga Mwangi.Chair Christopher Karanja.Vice Chair Lucy Kuria
Image: COURTESY

Co-operative Bank is set to enhance service delivery to it’s members by offering Corporate advisory services through its subsidiary, Co-op Consultancy after striking a partnership with the Metropolitan National Sacco.

Under it’s Corporate Restructure Program, the Bank has restructured the Sacco’s funding requirements to better manage the members’ monthly loan demands as well as the overall liquidity flows aimed at a complete turnaround of the Sacco.

The bank has also restructured the Sacco’s funding requirements to better manage the members’ monthly loan demands as well as the overall liquidity flows aimed at a complete turnaround of the Sacco.

 

“We thank Coop bank for restructuring at this timely moment as this has injected new growth at the Sacco,” said Chairman, Metropolitan Sacco ,Christopher Karanja.

The Bank has re-launched the Saccolink debit card, Sacco Personal Cheques and trade finance partnership to increase the Sacco’s revenue base through its front office service activity (FOSA).

“The recommendations and measures that have so far been put in place will certainly get the Sacco to new heights,” Karanja added.

Metropolitan National Sacco is one of the largest Saccos in the over 15 million member co-operative movement.

“The corporate restructuring deal will ensure the Sacco has adequate working capital to support the members as well as improve the operational efficiency of the Sacco. Vincent Marangu, Director, Co-operatives Banking Division at Co-operative Bank.