Co-op News

21/12/2024

21/12/2024

21/12/2024

Emergency Fund

Establishing an emergency fund is one of the wisest financial moves you can make, and doing it through a SACCO enhances that decision. SACCOs provide high-interest savings accounts, annual dividends, and access to affordable loans, making them an excellent option for consistently growing your emergency savings.
Building your emergency fund within a SACCO focuses on steady contributions rather than aiming for perfection. Start with manageable amounts, automate your savings when possible, and let the power of dividends help expand your fund. Even if your income fluctuates, SACCOs offer flexible savings plans and easy loan access, simplifying the process of creating your financial safety net.

With determination and patience, your emergency fund will grow, offering you financial security and peace of mind regardless of life’s uncertainties. When emergencies arise, you’ll be relieved that you took the time to prepare.

21/12/2024

21/12/2024

𝙒𝙝𝙖𝙩 𝙞𝙨 𝙄𝙣𝙩𝙚𝙧𝙚𝙨𝙩 𝙤𝙣 𝘿𝙚𝙥𝙤𝙨𝙞𝙩𝙨?

Interest on deposits refers to the return you earn on the funds you save within a SACCO. Just like traditional banks, SACCOs reward members who deposit their money by paying them interest. This interest serves as an incentive for members to save regularly, contributing to both their personal financial growth and the SACCO’s operational health.

By consistently earning interest on deposits, your money grows over time, contributing to long-term financial stability.
Compounded interest can significantly boost your savings.

20/12/2024

Our client, a regulated Deposit-Taking Sacco in Nairobi, seeks a Chief Executive Officer to drive strategy, operations, and growth.

Key Qualifications:

Bachelor’s degree in Business, Finance, or a related field (Master’s is a plus).

CPA (K) or ACCA certification.

5+ years in senior management and 8+ years in a financial institution.

Proven expertise in Sacco operations, leadership, and regulatory compliance.

If you meet these qualifications, please apply here: https://lnkd.in/dwHhhD5H before 31st December 2024. Only shortlisted candidates will be contacted.

20/12/2024

2025 Resolutions

Invest. Grow. Earn

Why Sacco Membership is Your Smartest Financial Move

The benefits are plentiful. You can access comprehensive financial education and counseling tailored to your needs. A vast array of loan options awaits you! Plus attractive annual returns.

Read More>>>

  If you’re not yet a member of a savings and credit co-operative society (Sacco), now is the perfect time to consider joining one before the end of 2024 of early 2025. By registering with a Sacco, you unlock a treasure trove of benefits that can significantly enhance your financial wellbeing. As...

19/12/2024

The Sacco Mergers / Amalgamation

The presence of many Saccos struggling to comply with the Sacco Societies Regulatory Authority (SASRA) prudential guidelines and meet members’ expectations for loans, deposits, withdrawals, and interest returns has led to the Authority developing amalgamation and merger guidelines for the sub-sector

Read More>>>

Call now to connect with business.

19/12/2024

Why Choose Coretec Solutions Africa
-21 Years of success working with SACCO's
-Success stories from other SACCOs like yours
-Modern and future proof Mobile Banking System trusted by 50+ SACCO's across Africa
-A professional support team at your service
We will help your SACCO reduce operational costs and increase revenues
https://coretecafrica.com/m-sacco/

Call now to connect with business.

19/12/2024

Use the most reliable Sacco solutions to streamline your operations and deliver timely and quality services to your members.

19/12/2024

Discover how SACCOs can thrive through continuous innovation, ensuring relevance and growth in the ever-evolving financial landscape.

18/12/2024

As you focus on rest and play, don’t forget to plan for your children’s future, too. 🌱 Bima Ya Karo helps you save for your kid's primary education, giving them a strong start without extra financial worry. Call us on 0709 922 444 to get started.

18/12/2024

The Kamaki Farmers’ Cooperative Story of Transformation

Over 1,000 farmers through collective marketing, honey processing, and value-added products benefit.

In Kitui County, a quiet but impactful agricultural transformation is underway. The Kamaki Farmers Cooperative Society, which began as a small community-based organization, has grown into a leading force in Kenya’s beekeeping industry, benefiting over 1,000 farmers through collective marketing, ho...

18/12/2024

"When you join a SACCO, don't necessarily go for the high dividends. Quite a good number of SACCOs have been in trouble because of these high dividends. For example, there could be a bad year. If you're paying dividends and you're not making profits, you're draining your resources.

High dividends don't necessarily indicate that SACCO is doing very well."

- Mr John Mwangi, CEO, Tai Sacco

17/12/2024

Internet Banking Solution is an online platform where Sacco members can manage their accounts, conduct transactions, and access various financial services from anywhere at any time using their mobile or desktop devices.

𝑴𝒆𝒎𝒃𝒆𝒓 𝑨𝒄𝒄𝒐𝒖𝒏𝒕 𝑴𝒂𝒏𝒂𝒈𝒆𝒎𝒆𝒏𝒕.
Internet banking enables SACCO members to manage their accounts online efficiently. From checking balances to monitoring transactions, members have instant access to their financial information, promoting transparency and accountability.

𝑺𝒆𝒄𝒖𝒓𝒆 𝑻𝒓𝒂𝒏𝒔𝒂𝒄𝒕𝒊𝒐𝒏𝒔.
SACCOs can ensure secure and reliable financial transactions through encrypted online channels. Internet banking minimizes the risks associated with traditional methods, providing a safe platform for members to transfer funds, pay loans, and conduct various transactions.

𝑳𝒐𝒂𝒏 𝑨𝒑𝒑𝒍𝒊𝒄𝒂𝒕𝒊𝒐𝒏𝒔 𝒂𝒏𝒅 𝑨𝒑𝒑𝒓𝒐𝒗𝒂𝒍𝒔.
Internet banking streamlines the loan application process for SACCOs and their members. Members can apply for loans online, and SACCOs can expedite the approval process, making it quicker and more accessible.

𝑬𝒍𝒆𝒄𝒕𝒓𝒐𝒏𝒊𝒄 𝑺𝒕𝒂𝒕𝒆𝒎𝒆𝒏𝒕𝒔 𝒂𝒏𝒅 𝑵𝒐𝒕𝒊𝒇𝒊𝒄𝒂𝒕𝒊𝒐𝒏𝒔.
Going digital means SACCOs can deliver statements and important notifications electronically. This not only reduces paperwork but also ensures timely communication with members, keeping them informed about their accounts and important updates.

𝑰𝒏𝒕𝒆𝒈𝒓𝒂𝒕𝒊𝒐𝒏 𝒘𝒊𝒕𝒉 𝑪𝒐𝒓𝒆 𝑩𝒂𝒏𝒌𝒊𝒏𝒈 𝑺𝒚𝒔𝒕𝒆𝒎.
Internet banking seamlessly integrates the SACCO’s core banking system providing seamless member transactions and account management and other SACCO operations. This improves overall service delivery to members.

𝑳𝒐𝒂𝒏 𝒂𝒏𝒅 𝑩𝒊𝒍𝒍 𝑷𝒂𝒚𝒎𝒆𝒏𝒕𝒔.
Members can conveniently pay bills online, from utilities to loan installments. This minimizes the chances of missed payments, contributing to improved financial management for both members and the SACCO.

DM us now to request a free demo of the best Internet Banking System.

17/12/2024

"Saving isn't easy. It's something you do out of your own will. You're not forced by anybody, but because you have plans for the future, you start saving as early as possible before responsibilities come up that can become a burden."

~Mr John Mwangi,
Tai Sacco Society Limited CEO

17/12/2024

“The most truly generous persons are those who give silently without hope of praise or reward.” ~ Carol Ryrie Brink