Page 31 - Sacco Star Issue 15
P. 31

SACCO NEWS

   Delegates of Kenya Police SACCO voting during the Annual       Members’ total deposits also increased to Kshs.10.8 billion in
                           Delegates Meeting.                     2015 from Kshs. 9.3 billion in 2014, an increase of 16%. Similarly,
                                                                  membership grew to 44,336 in 2015 from 39,314 in 2014, thus
Heads together, PS Ali Noor and National Chairman Kenya Police    recording an increase of 13%.
                             during the ADM
                                                                  Loans disbursed in 2015 amounted to Kshs 8.9 billion compared to
The Chief Guest Hon. Alii Noor awarding one of the highest saver  Kshs. 7.8 billion in 2014, an increase of 14%. The FOSA activity in
  in the staff category, looking on is the National Chairman Mr.  2015 generated revenue of Ksh.488.5 million compared to Kshs.369
                             David Mategwa                        million in 2014, an increase of 32%.

                                                                  David Mategwa, Chairman, Kenya Police SACCO noted that the
                                                                  growth was partly attributed to the increase in membership. The
                                                                  Society registered an additional 6,400 members, most of them
                                                                  drawn from Kenya Police Training College in Kiganjo and GSU
                                                                  Training School in Embakasi and Magadi. “This recruitment has been
                                                                  attributed to the confidence that members have on the governance
                                                                  of the SACCO which has continued to propel growth to greater
                                                                  heights,” Mr. Mategwa said. He added that the Society would adopt
                                                                  more innovative methods in order to attract and retain members, as
                                                                  well as ensure sustainability.

                                                                  As part of its growth strategy, the Society is in the process of
                                                                  establishing three branches in Kisii, Nyeri and Meru. The branches
                                                                  are expected to be fully operational by the second quarter of the
                                                                  year. “The SACCO will continue to drive business growth through
                                                                  branch networks, developing new products, offering alternative
                                                                  distribution channels while leveraging on technology,” Mr. Mategwa
                                                                  noted.

                                                                  The Society was awarded for its excellence in the 2015 Ushirika
                                                                  day celebrations and was awarded three trophies; trophy for
                                                                  Best Managed SACCO in Government sector, trophy for 3rd Best
                                                                  Managed SACCO Countrywide, trophy for Best in Education &
                                                                  Training and a Certificate for 3rd position lowest expenditure SACCO
                                                                  in the Government sector.

                                                                  The Society also received other prestigious awards that
                                                                  demonstrate good corporate governance which include ; ISO
                                                                  9001:2008-(Quality Management systems), 2ND Runners Up Co-
                                                                  operative Category Financial Reporting (FIRE) AWARD, Champion of
                                                                  Governance (COG) Award –Winner, 2015 Co-operative Category and
                                                                  Runners Up, Chairman of the Year 2015 (COG Awards).

                                                                  The Chairman noted that the pursuit of ISO certification was a
                                                                  demonstration of the Society’s unwavering resolve to promote
                                                                  efficiency. “We are committed to providing the highest standards
                                                                  of quality service delivery to all our customers and stakeholders as
                                                                  well,” he said.

                                                                  As part of its Corporate Social Responsibility, the Society has so far
                                                                  sponsored 28 bright but needy children of the deceased former
                                                                  members of the SACCO in various secondary schools in the country.
                                                                  During the year the society donated LCD projector to GSU Training
                                                                  School, GYM Kit equipments to Kiganjo Police Training College and a
                                                                  donation of 10 laptops to Utumishi Academy, among other things.

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