Unaitas Sacco’s has called upon financial institutions to show unwavering commitment to meeting the evolving needs of their members during the ongoing tough economic times.
Unaitas Chief Executive Officer (CEO), Martin Muhuhu, speaking during the opening of the Sacco’s 32nd branch in Kigumo Murang’a, underscored the need for institutions to remain committed to offering reliable financial services to Kenyans in spite of the economic challenges.
Muhuhu noted that it is important for financial institutions to find ways to support their members who are contending with the hard economic times affecting Kenyans and the institutions must therefore help members navigate the financial challenges where they can.
“When the people’s purchasing power decreases, people might face challenges especially repaying loans as they may have to prioritize basic needs like food.” He said. “We know our members won’t be an exception therefore we are ready to support them in all ways possible.” He added.
He noted that the Sacco has branches in 13 counties including Kisii, Mombasa, Kisumu, Nairobi, Kajiado and Machakos and employs over 370 people attributing that growth to commitment and reliability. “We have branches all over Kenya and we are pleased with the reception here at Kigumo as we open this new branch.” Muhuhu said.
He stated that the Sacco has been in operation for 31 years serving a diverse clientele that comprises farmers, small and medium sized enterprises (SME), employees of various institutions, as well as those in real estate and asset finance. “From the start, Unaitas has received great support especially from farmers who constitute 45 percent of all Sacco Business.” he stated.
He noted that the new branch is expected to serve farmers in Kigumo as well as other traders and businesspeople who need to save money and grow their ventures. Muriithi Kung’u, the Unaitas chairman said the Sacco is keen on bringing accessible financial services to the people as they celebrate growth.
He said that the Sacco takes pride in its large membership having over 400000 members and an asset base of over 24 billion shillings. “Our customers have trusted us with deposits over 13 billion shillings and we have issued loans worth over 18 billion shillings.” he said.
He called upon residents to embrace modern financial institutions for help with managing and growing their finances. Kigumo Deputy County Commissioner, Buxton Abwasi Mayabi applauded the Sacco for bringing banking services close to the people and noted that the opening of such financial institutions in Kigumo signals economic growth and confidence in the security in the region.
The DCC called upon all financial institutions to tailor services targeting small scale traders and farmers.