The Boresha sacco is open to everyone despite its main clientele being teachers, acting Chief Executive Officer Jacob Mengich has said.
Mengich said that the society has expanded since 1999 by bringing on board micro-entrepreneurs, farmers, civil servants and the county government staff.
“Apart from teachers being class one members we welcome everyone including young children to join the sacco” he said.
Boresha sacco, previously known as Baringo Teachers Savings and Credit Cooperative Society before it rebranded in 2012, now has assets worth Sh7 billion.
It has grown by more than Sh1 billion from 2018 when its assets were worth Sh5.7 billion.
“Owing to our growth, members are happy to entrust us with the mandate of handling their financial needs to date,” Mengich said.
He spoke to about 800 members during the Kabarnet-Salawa educational meeting held at the Kenya School of Government (KSG) in Kabarnet town on Saturday.
Mengich said the 2018 SASRA report ranked Boresha sacco number 19 out of 175 nationally both in assets and deposit-taking.
Kabarnet-Salawa director Pius Bolei said there has been an impressive membership growth from 60 in 1976 to the current 108,000 up from 85,000 in 2018.
“Our loan portfolio is Sh4.8 billion and the members' deposits stands at 4.7 billion,” Bolei said.
Mengich said they are keen on growing the society’s asset base to Sh10 billion by 2022.
“It is through these educational meetings and engagements with our members that we always realise positive growth,” the acting CEO said.
Mangich said they are building a multimillion three-storey building in Marigat, Baringo south.
Sacco chairman Albert Chebiegon said the membership growth was the result of collective work of members and management.
He said the sacco currently boasts 16 branches spread in Baringo, Uasin-Gishu, Nakuru and Nandi counties.
The Kenya National Union of Teachers Baringo secretary Joshua Cheptarus lauded Boresha Sacco for it 44 years in existence.
He said it has become an asset for teachers both in Baringo and away.
Cheptarus called on the teachers to consider taking loans from the sacco for their investment plans.
