Ollin Sacco’s approval ratings received a huge boost after it won a number of trophies during the 2023 Ushirika Day celebrations.
The event held at the Kenyatta International Conference Centre, Nairobi, on July 1st 2023 was presided over by President William Ruto and attended by top cooperative movement leaders and shapers.
During the event, Ollin Sacco was voted the second best managed Sacco employer-based tier 2 deposit-taking Sacco, reflecting its continuous effort to emerge as the best.
Ollin, which means ‘All in’ emerged as the first and most improved employer-based Tier-2 deposit-taking Sacco, beating a strong field of other competitors eyeing the trophy.
It was also declared the second best-managed employer-based Tier-2 deposit-taking Sacco in the country.
It was declared the second-best risk management employer-based, tier 2 deposit-taking Sacco.
The trophy adds a critical aspect to the Society’s effort to improve financial inclusion after opening the Nairobi branch, significantly boosting its brand.
By sharing a platform where they can compete with other players, the Society is preparing the stage where it can learn the best practices and embrace the same.
It also comes barely two months after it opened its Nairobi in an ambitious and well-calculated growth strategy to take its superior services closer to its members.
Founded in 1976, its approach to offering financial solutions remains unmatched. Aimed at spreading its business model,
Its 2021-2025 strategic plan is anchored on growth opportunity, member customer engagement, experience and relationships, operations efficiency, capacity to execute strategies and effective leadership and governance.
With ten branches spread in the country’s critical locations, the society is earmarked to take the country’s financial provision by storm.
With a membership of 25,000, the Sacco seeks to grow this to 50,000 and expand to 16 branches by 2025.
Board Chair Albert Kamau and CEO John Gathige have remained instrumental as the Sacco aims to become a key player in accelerating the country’s economic and social growth.
With the ability to navigate the country’s financial landscape, the Sacco is poised to take a leading role in enhancing customer experience.
The 2021-2025 strategic plan will offer a clear roadmap steps in its effort to become the country’s financial solution provider of choice.
The salient features of the plan such as growth opportunity, member customer management, and operational efficiency among others will act as a direction.
It has 50 agency banking outlets and 10 branches in Mwea, Kerugoya, Kitengela, Kiserian, Kimana, Kianyaga, Narok and Thika.
Ollin Sacco’s financial performance has remained steady and stable, ensuring members receive better returns for their investments.
The performance has been necessitated by years of sound decisions both at the board and management level, ensuring that the two are in harmony.
With an asset base of KSh8.5 billion as of December 31 2023, the Sacco is putting all structures and strategies in place to reach a target of KSh15 billion by the close of 2025.
Dividend payout was among the highest in the country at 17.5 per cent, with members pocketing a total of KSh579 million.
This will create a huge trickle-down effect on many businesses and touch the lives of many households through improved cash flows.
Improving on its asset base will lead to a healthy balance sheet where members can access loans with ease and be assured of a return on their investments for decades to come.
With an innovative approach towards their product and service development, Ollin Sacco is setting the stage to touch the social and economic status of their members in better ways.
Alternative business channels such as Ollin Kash, Visa branded ATM cards, and agency banking are expected to boost its savings and loan application.
