Naku sacco re­brands, opens to pub­lic

The Star (Kenya) - - News -

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

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