When it comes to matters pertaining to financial literacy revolving around the aspects of earning, spending, saving, investing and borrowing, the majority of Kenyans tend to focus only on banking and microfinance institutions thus forgetting the existence of credit unions…. Read More ›
Savings and Credit Cooperatives, Saccos has lifted the economic lives of many Kenyans. Mention a Sacco, and any Kenyan will associate the word with savings, dividends, shares, and loans. Apart from many households casting their trust in Saccos, many have… Read More ›
Credit and savings cooperatives, Saccos has revolutionized Kenyans over the past decade, with one out of five Kenyans belonging to a Sacco. It is because of the benefits that come with belonging to one. Talk about the saving culture, investment… Read More ›
In Saccos, dividends refer to the money you get regularly out of profits accrued annually. Payments may be issued monthly, quarterly, mid-year, or yearly in line with policies governing the Sacco. Though, many Saccos pay dividends to members annually. That… Read More ›
Shares refer to the equity capital one employs in a Sacco. It gives you the right to share ownership of a Sacco. That is to say, you become a shareholder. Share capital is different from your usual deposits. in the… Read More ›
Are you in a dilemma of whether to join a Sacco or a bank? You should probably join both since they have different importance to an extent. However, the benefit of one may supersede the other. The majority of people… Read More ›
Apart from promoting the spirit of saving among people, Saccos have revolutionized the financial sector greatly. It has saved many people from the bureaucratic process associated with the traditional banking systems. With just a few requirements, you are good to… Read More ›
So, do you want to join a Sacco (Savings and Credit Co-operative Organization) but you are still contemplating on the cost implications of such a decision? That’s great. It is not only a prudent thought but a step towards financial… Read More ›
SACCOs are among the institutions that continue to register remarkable changes—and good ones, for that matter. Of course, the benefits of joining a SACCO in Kenya are not new. Since the formation of these institutions, they have been in existence… Read More ›
SACCOs, Savings and Credit Co-operative Organizations are formed to primarily help members with saving, but they also assist their members in many ways. While they provide loans for development and emergency to members, they also act as social welfare groups… Read More ›
