By Co-op News
With over 100,000 members and total assets worth over Ksh 9.7 billion, Imarika Sacco is the coast region’s giant cooperative society.
Founded in 1974 with about 100 members, mainly employees of the Teachers Service Commission (TSC) in the then Kilifi district, the Sacco success story is remarkable, one that other financial institutions can emulate.
The Sacco has spread its wings in all Kilifi County corners ensuring that members access services with ease. So far it has six branches in Malindi, Mtwapa, Kaloleni, Garsen, Ukunda and Ganze.
As its name Imarika means, the Sacco has become a social and economic pillar for its members who have upgraded their livelihoods through its services. Households’ livelihoods have become stable, and individuals prospered through the financial support of the Sacco.
Over the 46 years of its existence, the Sacco has built a reputation as a trusted, dependable, stable and fastest-growing Sacco in the coastal region and in the country.
Innovation and quality define its wide range of products and services that are designed and tailored to the specific needs of members. The young, old, rich and poor all have their space in Imarika Sacco, where “together, we grow.”
Envisioned to be an outstanding Sacco in providing efficient, innovative and competitive financial solutions, Imarika Sacco has lived up to this, as evident in the lives of its members.Â
Guided by the mission to improve the socio-economic welfare of members by providing diversified member-driven financial products and services, the Sacco has ensured that members get reliable and timely financial support whenever they may need it.
With an open common bond, Imarika membership has steadily increased, with members drawn from all walks of life. The Sacco has emerged as the preferred financial institution in the Coast region.
The Sacco Board of Directors declared payment of dividends on shares at 14 per cent and interest on deposits at 7.5 percent for the financial year ending December 31st, 2020.
Through Imarika Foundation the Sacco has been sponsoring needy and bright students ensuring that they achieve their education dream.
