Imarisha Cooperative Savings & Credit Society Limited

Imarisha Cooperative Savings & Credit Society Limited
Type	Private
Industry	Financial Services
Founded	1978
Headquarters	Kericho, Kenya
Key people	Mathew Ruto Chairman Kipruto arap Sigei Chief Executive Officer
Products	Loans, Checking, Savings, Investments, Debit Cards
Total assets	US$60 million (KES:5.2 billion) (2013)
Website	Homepage

Imarisha Cooperative Savings & Credit Society Limited, also known as Imarisha Sacco Limited, but often referred to as Imarisha Sacco, is a savings and credit co-operative society (Sacco) in Kenya, the largest economy in the East African Community.

Overview

Imarisha Sacco is a small financial services provider in Kenya. As of December 2013, it was the ninth-largest Cooperative Savings and Credit Society in Kenya, with total assets of approximately US$60 million (KSh5.2 billion). At that time, its membership numbered in excess of 35,000, with shareholders' equity of about US$37 million (KSh3.2 billion).^[1]

History

The society was established in 1978, under the name: Kipsigis Teachers Sacco, with the support of two teachers' unions, namely (a) Kenya National Union of Teachers (KNUT)^[2] and (b) Kenya Union of Post Primary Education Teachers (KUPPET). With an initial membership of 100 teachers, the objective was to meet the financial needs of teachers, using funds mobilized from the members. In 2014, the society re-branded to its current name and began to accept members outside the teaching profession.^[3]

Ownership

The shares of stock of Imarisha Sacco Limited are privately owned. The detailed shareholding in the Cooperative society in not widely, publicly known.

Branches

As of September 2014, the society maintains a network of branches at the following locations:

Kericho Head Office - Imarisha Teachers Sacco Building, Nakuru-Kericho Highway, Kericho
Bomet Branch - Imarisha Teachers Sacco Building, Bomet
Bureti Branch - Kabianga University Building, Sotik-Kericho Highway, Bureti
Branch Number Four
Branch Number Five
Kapsabet Branch - Kapsabet (In development)
Kisumu Branch - Kisumu (In development)
Kilgoris Branch - Kilgoris (In development)

References

↑ Kimei, Timothy (31 August 2014). "Sacco Buys Office Block for KSh210 Million In Kericho". Business Daily Africa (Nairobi). Retrieved 1 September 2014.
↑ Kimutai, Gilbert (3 July 2014). "Teachers Threaten To Stage Demo Against Sacco". The Standard - Mobile (Nairobi). Retrieved 1 September 2014.
↑ Shivairo, Kennedy (31 July 2014). "Imarisha Seeks To Increase Its Board Membership". SaccoReview.ShendPublishers.Co.Ke. Retrieved 1 September 2014.

External links

Banks of Kenya

Central bank	Central Bank of Kenya

Commercial bank	African Banking Corporation Bank of Africa Barclays Bank Bank of Baroda Bank of India CFC Stanbic Bank Chase Bank Citibank NA Kenya Commercial Bank of Africa Consolidated Bank of Kenya Cooperative Bank of Kenya Credit Bank Development Bank of Kenya Diamond Trust Bank East African Development Bank Ecobank Kenya Equatorial Commercial Bank Equity Bank Family Bank FidelityBank First Community Bank Giro Commercial Bank Guaranty Trust Bank (Kenya) Guardian Bank Gulf African Bank Habib Bank Habib Bank AG Zurich Housing Finance Company of Kenya I&M Bank Limited Imperial Bank Limited Jamii Bora Bank Kenya Commercial Bank Middle East Bank Kenya National Bank of Kenya NIC Bank Oriental Commercial Bank Paramount Universal Bank Post Bank Prime bank Sidian Bank Standard Chartered Kenya Trans National Bank Kenya United Bank for Africa Victoria Commercial Bank

Financial services organization	Diamond Trust Bank Group Equity Group Holdings Limited Commercial Bank of Africa Group Guaranty Trust Bank (East Africa) I&M Bank Group Kenya Commercial Bank Group NIC Bank Group

Foreign banks	Bank of China Bank of Kigali HDFC Bank Nedbank The Hongkong and Shanghai Banking Corporation First Rand

Defunct banks	Dubai Bank Kenya Euro Bank

Microfinance Institutions	Faulu Microfinance Bank Limited SMEP Microfinance Bank Kenya Women Microfinance Bank

Related Topics	Automated Teller Machine (ATM) ATM usage fees De-Materialisation (DEMAT) Foreign Exchange (FOREX) Financial Services Real Time Gross Settlement (RTGS) National Electronic Fund Transfer (NEFT) Structured Financial Messaging System (SFMS)

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