“There is a proposal for SACCOs to transition to the title of ‘Credit Unions,’ a term widely used globally, including in the United States and Canada. In Kenya, we have traditionally been known as Savings and Credit Cooperative Societies. We are currently evaluating the merits and demerits of maintaining our current identity versus transitioning to this new nomenclature. Ultimately, the primary objective of these reforms is to strengthen the cooperative movement by exploring this new frontier.”
— Daniel Marube, CEO, Cooperative Alliance of Kenya (CAK).
Rebranding SACCOs as Credit Unions
