Kisumu teachers sacco has rebranded to Keystone as it gears up to recruit members across the country.
CEO Allan Kawa said they are eying members from other counties, which is why they changed the name.
He termed the rebranding as a milestone in the development and expansion of KITE that was originally meant for teachers only.
Kawa said they will expand their services to Homa Bay, Migori, Siaya, Kisii and Nyamira counties to make the sacco stronger.
Already, the sacco has embarked on recruiting members from Homa Bay, Siaya and Migori among other areas in Western Kenya.
“We plan to recruit more members to make it more vibrant and we are appealing to teachers and those from other sectors to join us for better services,” he said.
He spoke at sacco’s 44th annual general meeting at Kisumu Museum on Saturday. More than 500 members attended.
Kawa said Keystone sacco has grown and has been registering new members who are not teachers, including private security employees.
“Our vision is to have more vibrant financial inclusion with as many members as possible. And with the rebranding of the sacco, we look forward to achieving our target,” he said.
Kawa said the sacco was the best tool for achieving the financial independence of the members.
“We have a strong member focus and emphasis on savings and have the cheapest loans in the market countywide,” he said.
Kawa revealed that they are now operating a microcredit section, which is a different model from the check –off system as it targets business people, groups and other small and micro enterprises.
The section, he said, will help in bringing more deposits as well as members to the sacco as it expands.
“Apart from salaried people as our members, we have now opened our doors to other small scale business people and groups to come and join the sacco,” Kawa said.
The sacco has recorded an increase in dividends for the members to Sh27.5 million in 2021 up from Sh23.5 million in 2020 despite of Covid-19 pandemic.
Kawa said Sh27.5 million will be paid to members at the rate of 10 per cent.
Sacco chairman Esau Ogada lauded the rebranding, saying it was geared towards expansion and development of the financial institution.
Keystone was started in 1977 with only a few teachers as members and since then it has grown as it marks 45 years of operation.
Currently, Sacco has approximately 8,000 members.
