Your Financial Friend
   Utabibu Non-Withdrawable Deposit-Taking Sacco recently celebrated its 50th Anniversary in grand style, reflecting its outstanding track record of providing top-notch financial services to its esteemed members.
As a regulated NWDT Sacco by the Sacco Societies Regulatory Authority (SASRA), Utabibu has consistently proven itself a reliable partner and a trailblazer in offering innovative financial solutions and driving sustainable growth within communities.
Over the past five decades, Utabibu has been a beacon of hope for countless members and communities, steadily climbing to a leadership position in the Sacco sector through its steadfast dedication to excellence, unwavering pursuit of innovation, integrity, and exceptional member service since its establishment in 1974.
Commissioner for Cooperative Development, Mr. David Obonyo, graced the colorful 50th-anniversary event and thanked the Sacco leadership, management, and members for making Utabibu NWDTS a preferred financial institution for many.
“Your future is bright. You must continue to provide hope to people by offering them customized financial services that can transform their lives. Strive to understand members’ needs to tailor your products to address their current needs,” he said.
Mr. Obonyo also commended the Sacco for embracing technology in service delivery, noting that today’s members seek efficient and fast services. The Sacco members can now enjoy complete financial services from the comfort of their homes and workplaces. The Board is in an advanced stage of automating the loan application process and guarantors’ verification.
“At the milestone of 50 years, I am confident that the remarkable growth of your Sacco will keep positively impacting the lives of its members,” Mr. Obonyo expressed.
Utabibu Sacco has achieved remarkable success and significantly impacted its members and communities. The Sacco has become more than just a financial center; it has become a launchpad for countless individuals to achieve their full potential.
By offering a range of unique and diverse financial services tailored to its members’ specific needs, such as loans for home ownership, education, paying medical bills, and setting up manufacturing industries, the Sacco has played a vital role in improving the lives of its members.
Quality financial services have fueled the Sacco’s upward trajectory. According to the SASRA’s recent Sacco Supervision Annual Report 2023, the Sacco has demonstrated impressive growth, ranking 19th among the medium-sized non-withdrawable deposit-taking Saccos nationally. It boasts an asset base of Ksh 1.53 billion, total deposits of Ksh 1.15 billion, and a loan portfolio of Ksh 1.34 billion. The Sacco has consistently rewarded members with attractive interest on deposits and dividends on shares.
“As demonstrated by our positive results and high returns, it is a testament to our commitment to sound financial management and best corporate governance practices. To enhance the security of the ever-growing loan portfolio, the Board and management have introduced collateral security to reduce the risk of over-reliance on only guarantors,” said Mr. Jack Wandollah, National Chairman, Utabibu Sacco.
Utabibu Sacco has shown its ability to adapt and thrive by continually evolving to meet the changing needs of its members. Following a resolution by the members to establish a deposit-taking business by opening a Front Office Service Activity (FOSA), the Board and management are on track to implement it next year.
“The Society’s focus on member-centricity and personalized service delivery continues to set us apart in the market, driving sustained member engagement and loyalty. The Sacco’s strategy implementation is focused on four key areas: growth and satisfaction of membership, quality service delivery, sound financial management, and promotion of a strong positive Sacco culture,” said Mr. Wandollah. The institution’s membership has steadily increased to over 4,500.
Utabibu Sacco has won several awards, including the best in education and training, the Sacco with the highest returns, the Sacco with the best technology optimization, and the lowest expenditure. During the 2024 Ushirika Day Gala, the Sacco was awarded as the most efficient Sacco countrywide for its dedication to quality service delivery.
The Sacco looks forward to the future with unwavering optimism and a renewed dedication to empowering members and transforming communities. It is steadfast in its commitment to being the Sacco of Choice, providing excellent financial services and remaining members’ financial friend.
Mr. George Mutiso, Nairobi City County Chief Officer Cooperatives, lauded the Sacco for its remarkable growth, promising the county’s support on its journey to becoming a FOSA Sacco.
“We are happy you are among the county’s most stable and well-managed Saccos,” said Ms. Dolphine Aremo, Nairobi Cooperative Director.
The Sacco CEO, Mr. Geofrey Kurgat, attributed their success to good governance by the Board, staff agility, and members’ loyalty.
“We have transformed members’ lives, many who can share their success stories, not limited to educating children, building modern homes, and most particularly actualizing their dreams,” he said.
“The Society’s focus on member-centricity and personalized service delivery continues to set us apart in the market, driving sustained member engagement and loyalty. The Sacco’s strategy implementation is focused on four key areas: growth and satisfaction of membership, quality service delivery, sound financial management, and promotion of a strong positive Sacco culture.” ~ Mr. Jack Wandollah, Chairman.
Sacco Loan products
- Utapesa M-Banking Loan,
- Instant Loan,
- Jibambe Loan,
- Epuka Shylock,
- Emergency Loan,
- School Fees Loan,
- Super Loan,
- Deposit Booster Loan,
- Special Emergency Loan,
- Development Loan,
- Development Plus Loan,
- and Refinancing Loan.
Alternative Banking Channels
- M-banking
USSD *720#
- Utapesa App
- Deposit via Paybill Number 822950
Others
- Utabibu Members’ Portal
- Cheque payment system
- RTGS/EFT
- MPESA Bulk Payment
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CONTACT US:
4th Floor, Doctors Park,
3rd Parklands Avenue, Nairobi.
Email:Â [email protected]
Phone:
+254 711 651 574
+254 786 505 050
Social Media:
Facebook: Utabibu Sacco Society Ltd
WhatsApp: +254711651574
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