CHAMPIONS OF CO-OPERATIVE MOVEMENT
IG Sacco crowned with prestigious COG award
Invest and Grow (IG) Deposit-Taking Savings and Credit Co-operative Society has once again been recognized for its excellence in governance winning this year’s Champions of Governance (COG) Award for the Co-operative Sector.
The Sacco officials graced the rostrum at Movenpick Hotel, Nairobi during the COG Awards gala night to receive the coveted award for the second runners-up.
COG Award is given to organizations and individuals that exhibit the highest standards of practice of good governance, in line with their institutions vision and mission.
The Award aims at promoting practices in good governance through recognition of practice and application of good governance in the both the public and private sector entities, recognition of innovations in organizations that support good governance and encouraging organizations to focus on enhancement of good governance. Inaugurated in 2010 the award marked its Eleventh Edition of the COG Award in 2nd December 2022.
IG Sacco’s recognition and award attest to its leadership and management commitment to embrace good corporate governances and best practices that has seen it grow to be a competitive financial institution.
The COG Awards comes hot on the heels after IG Sacco based in Kakamega was voted the best overall Co-operative Society in the county during last year’s Ushirika Day celebrations.
As the Sacco of choice in Kenya, IG has continued to empower members through prudent value creation for quality life. The Sacco makes it easier for members to access affordable loans to buy homes and other properties.
Ranked 11th wealthiest Co-operative Societies nationally, IG Deposit Taking Sacco is living up to its vision of being the leading financial services provider in Africa and beyond.
The Sacco is among the financial institution playing a significant role in creating value for members by improving their living standards by offering quality financial products and services.
Besides empowering customers through the provision of quality products and services for self-sustainability and socio-economic development, the Sacco has developed financial products that make it easier for members to acquire land and build homes.
These include Prime Loan, Fanikisha Loan, Progressive Loan, and Empowerment Loan among others that are greatly supporting members to achieve their development aspirations. Today many of the Sacco members own homes, land and vehicles through affordable financing.
The Sacco has achieved milestones in improving service delivery for enhanced customer satisfaction. Technology-led solutions drive IG Sacco’s epic growth, as management shift focus to providing modern financial solutions to members. Its technological innovations in service delivery are a notch higher while ensuring accessibility and efficiency.
Last year, the fast-growing Sacco launched a digital platform dubbed PESA PEPE that enabled members for the first time to access services digitally, such as E- Salary/Dividend advance and E- Loan. Members can borrow, activate their dormant accounts, and transact on their FOSA accounts at their convenient time, among other services.
“We were deliberate in making sure that members enjoyed efficient services to their satisfaction. We also introduced the issuance of instant Sacco-branded ATM cards at the Head office. It takes a maximum of two hours for a card to be processed,” said Mr Keya.
The Sacco rolled out members’ biometrics capturing to enhance members’ account security when transacting over the counter. Cheque clearing has also been enhanced, making banking easy and convenient for members.
Leveraging technology, IG Sacco has ensured that members are able to access services all the time.
“We were the first Sacco to conduct a virtual Member Education Program (MEP) attracting diaspora members as far as the USA, Canada, Somalia, Saudi Arabia, and Seychelles among other countries. 12,501 members participated in the virtual education programmes, which was an improvement from MEP 2020 physical attendance that had 12,017 members,” said Mr Kennedy Keya, IG Board of Directors Chairman, adding that the Sacco will continue equipping members with the right skills and knowledge on savings and investments in line with the Co-operative principles.
“We aim to ensure IG members are able to actualize and realize their development goals. We are committed to assisting them to save and access affordable loans, reliably.
“We thank our members for their loyalty and regularly patronizing Sacco products and services. Improved service delivery owing to technology-led financial solutions has significantly improved our business. We will continue being creative and offer solutions that are tailored to our members’ needs,” said CPA Peter Vuhyah, the Sacco CEO.
Besides offering quality financial services, IG Sacco also plays a leading role in promoting community welfare. Every year, the Society engages in various Corporate Social Responsibility activities such as tree planting, internship programmes, donating to children’s homes and sponsoring school games by providing sports regalia and trophies and funding community water projects.
An Annual Report on the performance and operations of Sacco Societies in Kenya released by the Sacco Societies Regulatory Authority (SASRA) places IG (Invest and Grow) among the country’s premium Saccos with Ksh 11.69 billion in total assets.
