SACCO is a Powerful Tool To Financial Freedom
The Chairman of Mutheki Sacco (encompassing residents of Githurai for the past 10 years) Mr. Stanley Kawiri Gachuru has highlighted the key role the Credit and Savings entity undertakes in economic empoerment. We usually loan a person (three times of their saving) in a very competitive interest rate (12% reducing balance).
We only require a person to be guaranteed by at least three other people. We don’t ask for the tedious, lengthy and cumbersome items that some financial institutions ask for, like title deeds, logbooks, securities, collaterals and the like. If a borrower has the required guarantors, he or she is able to receive the loan in a few hours.
This sacco (Mutheki Sacco) is open for all especially the young people. I’d like to advise the young people that the best way of ensuring your conomic development is through a sacco. This money can come through for you in times of an mergency and it helps in boosting one’s financial freedom.
The money you save is able to earn interest. We are fully compliant and regulated by the Government. We offer three categories of loans: Development loan – quite a substantive amount of money, we have emergency loans (for school fees) and even for personal leisure. We would like the government to be more agggresive in educating people more about the Saccos. Now that Sacco movement has been pivotal and instrumental in terms of economic empowerment and financial freedom.
We gave dividend of 20%, every shareholder will get 20% of their savings and in our projected groth we shall open more branches in our country.
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