- Kirimi said through the corporate governance and principle, they are giving back to the community through different initiatives.
- The steady growing institution has also given free scholarship to 15 bright but needy students to study different courses in Tvet colleges.
Yetu Sacco CEO Dennis Kirimi and chairman Mark Gitonga have urged the national government to start channeling cherry funds to Saccos.
They said Saccos are closer to people than the used method where only commercial bank receives the funds.
The two spoke on Tuesday in Nkubu, Meru, as the Sacco disbursed Sh350 million dividends for this year to its members after a turnover of Sh919 million.
Most of the Sacco members are farmers.
The steady growing institution has also given free scholarship to 15 bright but needy students to study different courses in Tvet colleges.
Gitonga said the successes have been achieved because the Sacco has continuously adopted, observed embraced and endeavoured to practice good corporate governance.
“Dear shareholders, the continuous growth you see is as a result of total compliance. I can confirm that the institution is run prudently and is regularly audited for compliance by the regulator and all other arms of government. Due to good performance, we have paid Sh350 million as dividends and interest on their deposits,” he said.
Gitonga said the Sacco has been building a strong customer centric culture, continuous implementation of digital strategy in line with digitising their services and improvement of their processes.
He added that they are constructing storey building at the Sacco headquarters in Nkubu to improve the image and providing ample and adequate offices to serve members better.
“The works are already ongoing at the site without interruptions on member services. The signature building is being built by the savings we have put aside over the last five years hence we are not borrowing,” Gitonga said.
Kirimi said through the corporate governance and principle, they are giving back to the community through different initiatives.
“29 per cent goes back direct to the Yetu Sacco Foundation where we have majored on education, youth’s talent naturing and growth (sports), environment and health. Despite the slow growth in the country’s economy and the hard times our members have experienced, I am extremely impressed by how well our organisation adapted to the changing circumstances,” Kirimi said.
He said the engagement of youths into sports eradicates drug and alcohol consumption thus helping them to be responsible individuals earning income through their talents.
He said the Sacco has opened two more branches to bring services closure to members noting that their seven branches are a game changer.
The Sacco has so far employed 60 agents.
“With our newly established branches, improved and revamped technology that has enabled efficient B2B in the transactions, increased agent banking, free pay bill, our strong liquidity levels our brand awareness coupled by dedicated and committed personnel, we endeavour to continuously offer innovative financial solutions in an efficient and effective way to members. We believe in service not the tittle,” Kirimi said.
He said Yetu Sacco’s greatest strengths have been on good corporate governance, leveraging on technology, dedicated young and well-trained personnel, high liquidity levels, Sacco brand, innovative products and its loyal members.
He said Sacco membership had increased from 66,084 to 84,075 while revenue increased from Sh789,154, 498 to Sh919,904, 458.