Naku sacco rebrands, opens to public
RICHARD MUNGAI/ Naku Sacco has rebranded to Shoppers Sacco and opened its doors to the public.
The sacco has also capped its loans at one per cent per month in a move aimed to ward off competition from banks whose lending rates is now capped at 14 per cent.
“Significant growth has been noted where we have been able to double the deposits, the loan book and total assets from the year 2012 to 2015. At the end of 2015, loan portfolio was Sh1.5 billion, deposits balances Sh1.4 billion and total assets of Sh2 billion,” chief executive James Muchira said in Nairobi.
The sacco, whose membership is mainly constituted of employees fro Nakumatt, Tuskys and Woolmat amongst others, has a membership of 16,476 from 9,427 four years ago.
It attributes the growth to development of new strategies, product offering diversification, prudent