Banks in Kakamega town might start parking to exit the market as Invest and Grow Sacco takes saving commerce to a high level.
What started as a mere teachers’ savings institution is now counted among the giant financial institutions in Kenya. With a membership of over 40,000 and a strong asset base of Sh11.7 billion, the Sacco has become the go-to deposit-taking institution for hundreds of thousands of people across the western region.
Mr. Peter Vuhyah, the chief executive officer (CEO) of Invest and Grow Sacco, attributed the growth of the financial institution to its uniqueness in offering its products and being accommodating to clients; treating them with dignity, listening to them, providing them with solutions, and assisting them when in need.
The Sacco boss notes that Invest and Grow is non-discriminatory to members ranging from Mama Mboga to managers, among other professionals, with a friendly loan rate.
“Our Sacco is not just targeting white-collar job employees but also those referred to as blue-collar job holders,” he told the Western Kenya Times.
He says that members who used to have intricacies with the institution have now found it to be their best home to save money as they enjoy the lowest borrowing interest rates.
Education standards are set to grow incredibly high due to the solutions the institution is offering teachers, hence giving them
sufficient time to concentrate on their jobs.
The number from the informal sector, such as Jua Kali and small self-help groups engaged in microbusiness, is expected to rise to double digits in the coming months.
“We are thinking outside the box; Invest and Grow Sacco is open to all on merit, ranging from those in jua kali, hawkers, small scale and well established businesses, and those in permanent jobs,” he said.
The SACCO, which opened its doors to non-teacher members, is today ranked among the best teachers’ SACCOs, according to a report by the Ministry of Co-operatives and Societies.
While the region has numerous other financial outlets, Invest and Grow stands out due to how it handles its clients with understanding and urgency and the very affordable rates on its products.
With the growth in technology, especially in the banking sector, the Sacco has been up-to-date enough, offering top-notch, fast, and secure mobile and online banking services to its clients 24/7 through Invest and Grow, ATMs, and mobile USSD.
The options allow clients to access and repay finances at the comfort of their residences, thus saving time.
To fully cater to the needs of its clientele, Invest and Grow has invested in its success, giving it the strongest asset base, according to the soft-spoken chief executive officer.
The 44-year-old Sacco targets recruiting at least 2,400 members annually.
Godfrey Wamalwa is a Bungoma-based journalist who enjoys writing Politics, Crime, Sports and Education.