Best Customer Care
Bingwa Sacco Ushirika Awards 2024
- Agriculture-based Category
- Best in Capitalization Countrywide Position 2
- Best in Capitalization DT Sacco Position 1
- Most Efficient DT Sacco Position 1
- Best in Risk Management DT Sacco Position 2
The Sacco is Celebrating 40 Years of Excellence and Success
As Bingwa Sacco celebrates its 40th Anniversary, it stands as a shining example of excellence in the co-operative movement, having clinched an impressive four national Ushirika Day awards. With a remarkable four-decade legacy of best customer care and financial prowess, Bingwa Sacco has firmly established itself as a trailblazer in delivering cutting-edge financial services and products to its members.
Amidst the grandeur of the Ushirika Day Gala hosted at Safari Park Hotel, Bingwa Sacco emerged victorious, claiming four national trophies and solidifying its position as champion nationwide. The Sacco emerged as the second best in capitalization countrywide and the best among agriculture-based Saccos. Additionally, Bingwa Sacco was crowned the most efficient and second best in risk management DT Sacco among agriculture-based Saccos.
These accolades underscore its unwavering commitment to excellence and ability to provide excellent financial services while effectively managing risks. Its success can be attributed to its unwavering dedication to the agricultural and business sectors, as it consistently provides vital financial services tailored to the unique needs of farmers and entrepreneurs.
The Society has positioned itself as a critical financial player, leading efforts to mobilize savings and extend affordable credit. The Sacco has consistently won national awards, and in 2023, it was feted with the best in capitalization, demonstrating its efforts and determination to improve its capital base. An improved capital base is instrumental in meeting the Society’s liquidity ratios, allowing it to give out loans and maintain a healthy balance sheet. This has enabled the Society to maintain a stable financial status and meet all prudential ratios such as core capital to total assets, core capital to total deposits, and institutional capital to total assets as prescribed by the Sacco Societies Regulatory Authority (SASRA).
Last year, Bingwa also received accolades for being the most efficient and the third best-managed agricultural-based deposit-taking Sacco. Known for the Best Customer Care, the Sacco stands out because of its innovative products and services that suit customers’ needs. The Sacco’s major success has been in transforming members’ livelihoods by listening and walking with them to fulfill their development dreams. With its membership open to all: individuals, micro and small businesses, corporates and institutions (governmental and non-governmental) and groups/chamas, the Sacco has attracted over 240,000 members who enjoy the very best of banking and investment services.
SASRA’s latest Sacco Supervision Annual Report, 2023, has highlighted Bingwa Sacco’s all-round growth. The report contains growth performance indicators for DT Saccos in 2023, ranking Bingwa as the 32nd largest DT Sacco with a total asset of Ksh7.64 billion and a loan portfolio of Ksh4.66 billion. The Sacco is also among the country’s most profitable co-operatives, with a total income above Ksh1.02 billion last year. Bingwa Sacco’s 40 Years of Success has lifted its iconic brand in Kenya’s thriving co-operative sector.
Mr. Francis Muriithi, Chairman Bingwa Sacco Board of Directors, who led the Sacco officials in receiving this year’s awards, attributed their success to members’ unwavering support, noting that they will remain committed to maintaining high standards of corporate governance, integrity, and ethics, which are embedded in the Sacco’s corporate culture.
In recent years, the Society has witnessed an increase in its loan and advance disbursement owing to its credit facilities’ accessibility and affordability. The Sacco has also maintained the payment of high annual earnings to members as dividends on shares and interest on deposits. To maximize member value, the Sacco conducts extensive member education and training programs to educate members on financial matters, equipping them with the knowledge to grow savings and invest well. The Sacco has also integrated information and communication technology into its operations, making it easy for members to access services anytime and anywhere. Improving its digital channels has made it more convenient for members to transact. This includes using a pay bill number, 765244, to deposit funds or a mobile banking platform by dialing *667*2# to access a range of services.
“Our top priority is to ensure that our members enjoy seamless transactions from the comfort of their homes or workstations, anytime, anywhere. To adapt to the ever-evolving needs of our members, we have revamped our product offerings. We strongly believe in empowering our members socially and economically. Our services go beyond banking; we have been transforming communities by giving back to society through Corporate Social Responsibility initiatives,” said Mrs. Elizabeth Warui, the Sacco’s acting Chief Executive Officer.
Discover the Bingwa Sacco Difference, 40 Years On
At Bingwa Sacco, our commitment to excellence goes beyond profits – it’s about creating value for our community. Our range of tailored products and services, coupled with straightforward terms and conditions, are designed to empower you to achieve your financial aspirations.
We uphold the highest standards of corporate governance to enhance shareholder value, and we actively seek input from all stakeholders through open dialogue and negotiation.
Our primary aim is to deliver unparalleled customer satisfaction. This is a promise we make to you today, tomorrow, and always. At Bingwa Sacco, we treat our customers like royalty, because that’s what you deserve.
Tel: +254 725 713 471
Cell: +254 707 069 180
