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Imarisha Cooperative Savings and Credit Society Limited

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Imarisha Cooperative Savings & Credit Society Limited
Company typePrivate
IndustryFinancial Services
Founded1978
HeadquartersKericho, Kenya
Key people
Mathew Ruto
Chairman
Kipruto arap Sigei
Chief Executive Officer
ProductsLoans, Checking, Savings, Investments, Debit Cards
Total assetsUS$60 million (KES:5.2 billion) (2013)
WebsiteHomepage

Imarisha Cooperative Savings & Credit Society Limited, also known as Imarisha Sacco Limited, but often referred to as Imarisha Sacco, is a savings and credit co-operative society (Sacco) in Kenya, the largest economy in the East African Community.

Overview

Imarisha Sacco is a small financial services provider in Kenya. As of December 2013, it was the ninth-largest Cooperative Savings and Credit Society in Kenya, with total assets of approximately US$60 million (KSh5.2 billion). At that time, its membership numbered in excess of 35,000, with shareholders' equity of about US$37 million (KSh3.2 billion).[1]

History

The society was established in 1978, under the name: Kipsigis Teachers Sacco, with the support of two teachers' unions, namely (a) Kenya National Union of Teachers (KNUT)[2] and (b) Kenya Union of Post Primary Education Teachers (KUPPET). With an initial membership of 100 teachers, the objective was to meet the financial needs of teachers, using funds mobilized from the members. In 2014, the society re-branded to its current name and began to accept members outside the teaching profession.[3]

Ownership

The shares of stock of Imarisha Sacco Limited are privately owned. The detailed shareholding in the Cooperative society in not widely, publicly known.

Branches

As of September 2014, the society maintains a network of branches at the following locations:

  1. Kericho Head Office - Imarisha Teachers Sacco Building, Nakuru-Kericho Highway, Kericho
  2. Bomet Branch - Imarisha Teachers Sacco Building, Bomet
  3. Bureti Branch - Kabianga University Building, Sotik-Kericho Highway, Bureti
  4. Branch Number Four
  5. Branch Number Five
  6. Kapsabet Branch - Kapsabet (In development)
  7. Kisumu Branch - Kisumu (In development)
  8. Kilgoris Branch - Kilgoris (In development)

See also

3

References

  1. ^ Kimei, Timothy (31 August 2014). "Sacco Buys Office Block for KSh210 Million In Kericho". Business Daily Africa (Nairobi). Retrieved 1 September 2014.
  2. ^ Kimutai, Gilbert (3 July 2014). "Teachers Threaten To Stage Demo Against Sacco". The Standard - Mobile (Nairobi). Retrieved 1 September 2014.
  3. ^ Shivairo, Kennedy (31 July 2014). "Imarisha Seeks To Increase Its Board Membership". SaccoReview.ShendPublishers.Co.Ke. Retrieved 1 September 2014.
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