50 Years of Excellence
K-Unity Sacco proudly celebrated its golden jubilee, marking 50 years of remarkable service and transformative development for its members. This milestone is a testament to the Sacco’s commitment to exceptional service delivery, making it a beacon of growth and empowerment in the community.
K-Unity is poised for even more outstanding achievements as it aims to expand its asset base beyond Ksh 10 billion by the end of the 2025 financial year, a significant increase from the current Ksh 7.1 billion. This ambitious vision is anchored in its Strategic Plan 2021-2025, focusing on five critical pillars: growing membership, enhancing savings and loan offerings, increasing operational efficiency, expanding non-banking Sacco services, and fostering institutional development.
The Sacco’s Board of Directors is determined to boost membership to over 200,000 by the end of next year, up from the current 172,941. A key part of this strategy involves tapping into the diaspora market, utilizing technology to promote tailored products that meet members’ unique needs. This innovative approach will significantly enhance deposit mobilization, a vital element of the Sacco’s growth strategy.
For five decades, K-Unity has been a transformative force, championing socio-economic empowerment for both its members and the wider community.
“K-unity has come a long way since its establishment in 1974. We are proud of its progress, particularly its wide range of products and services tailored to meet members’ needs,” said Hon. Wycliffe Oparanya, who was the Chief Guest during the Sacco’s 50th Anniversary celebration held at Safari Park Hotel.
The Cabinet Secretary noted that K-unity is among the leading financial institutions providing support to Micro, Small, and Medium Enterprises (MSMEs), playing a critical role in the country’s development agenda.
He urged K-unity’s leadership to take a leading role in mentoring and guiding other Saccos, serving as a beacon of hope and a model for success.
“By sharing your expertise, best practices, and systems, you are not only strengthening other Saccos but also contributing to the growth and sustainability of the sector and our economy,” Hon. Oparanya stated.
He commended K-unity for its continued innovation in providing quality financial solutions to its members and for being a shining example of a forward-looking financial services provider.
“I am confident that K-unity will continue to grow in the coming decades, contributing to Kenya’s prosperity by empowering individuals through financial inclusion,” stated Hon. Oparanya. He encouraged the Sacco’s leadership and management to continue fostering unity and collaboration to drive K-unity to even greater heights of growth.
A Tier-1 Deposit-Taking Sacco licensed and regulated by the Sacco Societies Regulatory Authority (SASRA), K-unity is a dynamic institution that has remained a beacon of hope for many. Since 2010, when it opened its common, the Sacco has experienced a remarkable upward trajectory.
“The Sacco has expanded its services by introducing business lines such as property development and management, as well as the Mapa Insurance Agency, which enhances the value provided to members,” said Mr. Patrick Kilemi, Principal Secretary of the State Department of Cooperative Development.
Mr. Kilemi highlighted the exceptional performance of cooperatives like K-unity, which has contributed to the country’s top ranking in Africa’s cooperative movement.
K-unity has been instrumental in banking the unbanked, driven by the motto: “Together We Grow.” The Sacco is dedicated to empowering individuals and helping them prosper by offering innovative financial solutions that meet current market needs. This is achieved by actively listening to member feedback.
“Ours has been a successful journey since 1974. Our impact spans various sectors, including dairy, tea, coffee, and business. We take pride in transforming lives,” stated Mr. Joseph Maina, Chairman, K-unity Board of Directors.
The Sacco draws members from all walks of life. Its transformative products have fostered vibrant business communities both across the country and beyond.
With ongoing developments in the industry, the Sacco is prepared for the future, committed to building a lasting legacy. Consequently, it has embraced innovation and technology to effectively meet members’ financial needs quickly and conveniently, anytime and anywhere.
“The use of mobile phones has been on the rise, and we want to capitalize on this trend to make banking much easier for our members,” said Mr. Maina. “Our dedicated team, who have worked tirelessly for the past 50 years to help the Sacco stand tall, are our greatest asset,” he added.
K-Unity aims to be the preferred financial services partner with a mission to provide affordable, accessible, and innovative financial solutions. The Sacco has been a pace-setter in the cooperative sector.
It has heavily invested in technology, installing a robust system that fully automates all operations. This has boosted customer confidence, including those in the diaspora who conveniently use the internet banking platform to transact.
“From our beginnings with two branches in Kiambu County, the Sacco now has a presence in five counties with a network of 16 branches. We are also borderless, serving members in countries such as the USA, UK, and Canada,” said Mr. Simon Njenga, the Sacco CEO.
The Sacco’s growth is supported by a well-established governance structure, a dedicated team of staff, and a customer-centric approach.
“Looking ahead, our focus will remain on providing affordable, accessible, and innovative financial solutions. We will leverage technology to enhance the delivery of alternative channels, boost operational efficiency, and support our human capital,” Mr. Njenga said.
The Sacco’s core mandates include mobilizing savings and providing diverse loans to members, along with offering insurance and managing property development. It has developed various products targeting individuals, groups, and institutions, such as the Youth Biz Loan, Asset Finance, Kwamua Biashara, and LPO financing. Members can obtain loans of up to five times their savings.
K-Unity has launched a foundation called Pamoja Tunakua to enhance its corporate social responsibility (CSR) initiatives aimed at poverty eradication. The foundation plans to invest in financial literacy and entrepreneurship programs to help members generate and expand business ideas. It is also expected to facilitate market linkages for members to both domestic and international markets through strategic partnerships.
The Sacco will collaborate with communities on a wide range of activities, including education, health, renewable and green energy, water harvesting, and animal husbandry. K-Unity’s CSR activities have significantly improved community welfare and have played a key role in national tree-planting exercises.
Established in 1974, K-Unity (formerly Kiambu Unity Finance Cooperative Union Ltd) was formed through the amalgamation of the Limuru Marketing Cooperative Union and the Kiambu Dairy Marketing Union. It was created to provide savings and credit facilities for dairy and pyrethrum societies in Kiambu County. Currently, K-Unity has branches in five counties: Kiambu, Nairobi, Nakuru, Narok, and Nyandarua, guided by its core values of teamwork, innovation, customer focus, and integrity.
