Together We Prosper
Ollin DT Sacco launched its extensive Member Information Programme with great enthusiasm, drawing thousands of participants from all regions where it operates. Under the theme “Mental Wellness for Financial Wellness,” this financial literacy initiative is designed to equip members with essential knowledge and skills to effectively manage their finances.
Over the years, Ollin Sacco has successfully conducted member education and training, empowering individuals to make informed financial decisions, boost their savings, and enhance their overall economic well-being. This year’s education and training focuses on imparting financial knowledge, skills, and positive attitudes that facilitate sound money management practices in earning, spending, saving, borrowing, and investing.
“Financial literacy empowers households to utilize limited resources more effectively, select financial services and products that align with their needs, and transition from reactive to proactive decision-making. Well-informed clients lead to lower risks for financial institutions and enhance overall profitability,” said Mr. Cyrus Kabute, the Sacco Chairman.
He noted that a lack of financial literacy leaves individuals vulnerable to the adverse effects of emergencies, excessive debt, aggressive retailers, and fraudulent schemes.
“Our financial literacy program will enable members to optimize resource use, make informed choices about financial products, and adopt prudent budgeting, saving, and borrowing practices. This will foster financial stability, encourage future planning, and support family welfare,” he added.
The success of these information days has been transformative for both the members and the growth of Ollin Sacco. Lives have changed, and dreams have turned into reality. There are no limits for Ollin Sacco members, who, through the Sacco’s financial assistance, have improved their socio-economic status.
Ollin Sacco has experienced rapid growth, rising to the pinnacle of the cooperative movement. It ranks highly among the Deposit-Taking Saccos licensed by the Sacco Societies Regulatory Authority (SASRA). United under the spirit of “Together We Prosper,” Ollin Sacco maintained an upward growth trajectory in the 2024 financial year, with its asset base increasing from Ksh 9.95 billion in 2023 to Ksh 12 billion.
The leadership and management of the Sacco project that they will reach a target of Ksh 30 billion by the year 2030.
“Ollin Sacco is financially stable and moving in the right direction. The money you have invested in the Sacco is safe and earning attractive returns. I urge you to take advantage of one of the fastest-growing Saccos in Kenya,” said Mr. John Gathige, the Sacco’s CEO.
He noted that the Sacco has registered significant growth in recent years. From 1976 to 2016, the total assets of the Sacco grew to Ksh 3.1 billion with a membership of 7,600. However, from 2017 to 2024, the asset size increased to Ksh 12 billion, with over 35,000 active members. In 2025, the Sacco plans to recruit 11,000 new members. Its ultimate goal is to grow its membership to over 100,000 active members by 2030.
“We envision a thriving future for our Sacco and are committed to accelerating its growth. Our goal is to grow our asset base by Ksh 18 billion, propelling us to an impressive Ksh 30 billion by 2030,” Mr. Gathige stated.
To ensure that our Sacco’s growth truly benefits all members, said the CEO, it’s essential that we translate this progress into real advantages. “Our growth must translate into tangible benefits for our members. Our collective efforts are what drive the Sacco forward. I encourage everyone to invest more in our Sacco, as your increased commitment can lead to substantial rewards for us all,” he advocated.
Ollin Sacco is among the financial institutions that offer high returns on investment nationally and has risen to become one of the best-performing Saccos not only in Kenya but beyond. With 10 branches strategically located across the country, the Sacco is set to open its 11th branch in Kiambu County in January 2025. With members in all 47 counties, Ollin Sacco has expanded its reach globally, attracting members from Africa, the USA, Europe, Asia, and Australia.
“Ollin Sacco is a Tier-1 Deposit-Taking Sacco and is classified among the best Saccos in Kenya, where there are approximately 24,000 cooperatives,” Mr. Gathige said.
Members Benefit
Members significantly boost their wealth through attractive dividends offered by Ollin Sacco share capital. By investing a minimum of Ksh 10,000, members earn an attractive dividend rate. For instance, the Sacco’s top shareholder, with over Ksh 12 million in shares, enjoys annual dividends exceeding Ksh 2 million. The Sacco is currently running a share drive campaign, which is set to conclude next year, providing an excellent opportunity for members to invest.
Additionally, members can take advantage of the Sacco’s non-withdrawable deposits, yielding high annual returns. The Sacco’s standout saver has amassed over Ksh 65 million, demonstrating the potential for substantial growth. The Sacco also offers fixed deposit accounts with competitive interest rates, ensuring that members have multiple avenues for maximizing their financial benefits.
“At Ollin Sacco, we help you make your money work for you,” said Mr. Gathige.
The Sacco is planning to establish a Young Members Club next year to encourage saving among the youth while mentoring them in all aspects of life.
Prof. Paul Kibicho, Ollin Sacco Brand Ambassador, passionately encouraged members to promote the positive reputation of the Sacco. He emphasized that investing in Ollin Sacco is a savvy financial move, as it provides impressive return on investment.
“Why endure hardship when you can invest in Ollin Sacco and reap the benefits? There’s no need to get bogged down with incomplete projects or idle assets—choose Ollin Sacco and flourish,” he urged.
He also highlighted the Sacco’s innovative youth program, which presents countless opportunities for personal and professional development through mentorship.
In support of this, Kamau wa Kang’ethe, a renowned Kikuyu TV personality, lauded the Sacco for its pivotal role in empowering individuals and transforming lives for the better.
Mark your calendars! Ollin Sacco will hold its Annual General Meeting on January 25, 2025.
Ollin Wins Best Managed Sacco National Award
For a Sacco well-known for innovation, Ollin continues to set the pace for the cooperative movement. Ollin is well-known for innovation and remains a pacesetter in the cooperative movement. It won the national Ushirika Day award for the best-managed DT Sacco, ranking third in the employer-based category.
Over the years, it has evolved into a highly adaptable, resilient, and forward-thinking Sacco, poised for a prosperous future. It was the first Sacco in Africa to establish a FOSA in 1995.
In 2023 the Society won seven Ushirika Day awards at both national and county levels in 2023, including Best Managed DT Sacco, Best in Risk Management, Highest Average Savings per Member, and Highest Dividend Rate.
