HISTORICAL BACKGROUND
The Society was registered in 1977 and became operational in 1978. It is occupying a rental office at Re-Insurance Plaza (Wedco Centre) ground floor Kisumu. It has a Front Office Section which offers banking services to members of the Society with effect from 29th April, 1999. Our Vision
To become a leader in provision of affordable and reliable financial services in Kenya
and beyond. Our Mission
To mobilize savings and deposits in order to accord timely, flexible and affordable credit to our members through prudent management and efficient resource utilization. Shares
The highest contributor as at July 2012 contributes Kshs.5,000 per month, while the highest saver im member number 2738 with savings of Kshs.607,000/= as at July 2011. The Society’s share capital amounts to Kshs.17,500,000/=, while members deposits amounted to Kshs.483,518,185/= as at December 2011. Refunds
Refunds/Withdrawals are approved by the Board of Directors. A minimum period of 60 days written notice is required for a member to withdraw from the Society. A charge of Kshs.500 is paid by a member when withdrawing. Other Refunds Are:
(i) Over deductions – paid instantly on proof that loans/interests are wrongfully deducted. (ii) Deceased refunds – paid in the case of a member’s death to the next of kin.
