Ollin Sacco takes the lead with flying colours in Kirinyaga -Ushirika

Ollin Sacco takes the lead with flying colours in Kirinyaga and beyond-Ushirika

By Apudo Were A s the world marked the 97th International Day of Cooperatives which is referred to in Kenya as Ushirika day, it was another chance for Ollin Sacco to prove its prowess to savers both at the county and national level.

During the celebrations that got to climax at a gala dinner where top performers were awarded for exemplary work in the past one year, Ollin Sacco scooped one of the top and most prestigious award for being among the best Saccos in credit management employer based – Countrywide.

Back in Kirinyaga, Ollin proved to be the Sacco with the highest interest on unwithdrawable deposit , a Sacco with the highest savings per member still, a Sacco with the highest dividend rate and Sacco with the highest audit compliance level (26 days) in category A that is comprised of Sacco with over Kshs. 61 million capital plus deposits. Members of Ollin Sacco Board of Directors led by Chairman Harrison Gachugo receive a trophy at the Ushirika day celebrations in Kirinyaga County.

directors and management are not sleeping. Our aggressive marketers are always on toss looking out for new members. We also invest much on member’s education to let people know of the products that our Sacco offers,” the Chairman justifies their good performance.

In an interview with the writer towards the conclusion of the celebration which was held at Kutus Primary School in Kirinyaga County, the Sacco Chairman Harrison Gachugo assures Savers in the County that Ollin which literally means ALL-IN is looking at bringing in all savers in the County and the rest of Kenya.

“We can only achieve this by coming up with products that meet the interest of everybody in every part of this County and at Ollin, both the board of According to the Sacco Chief executive officer (CEO) John Gathige Ollin Sacco is committed to the prosperity of savers in Kirinyaga and even the rest of Kenya. “We intend to bring everybody on board remember our name portrays that we bringing everybody in (ALL-IN). Through various market surveys, we develop products for everybody,” says the CEO.

The CEO reports that last two branches established in Kiserian and Kitengela are

Ollin Sacco PR Manager Rose Muchiri receiving a trophy at the national Ushirika day. performing well and through member’s education, the Sacco has managed to win pastoralist mind and are now adopting a saving culture.

Some of the saving products include, like ordinary Savings Account, fixed Deposit Account,

Call Deposit Account, Children’s Account, Joint Account, Group Account, Business Account, Stop Gap Account and Holiday Account.

Ollin also has SPOT CASH a state of the art mobile banking system that enables members of the Sacco to transfer money to and from their accounts, send enquiries, credit applications and other banking transactions through their mobile phones.

The subscription procedure requires that a member duly fills in the application form, the member is then subscribed to Spot Cash Mobile Banking System on the Sacco’s MIS ensuring only the requested services are activated, and upon registration the member is sent a text message to specified phone number with a PIN, organization code and brief instructions on how to access Spot Cash like, dear JOHN ANONYMOUS.

You are now registered for Spot Cash. Your organization code is 0054 and your secret PIN is ****. Dial *645# to use this service. Alternatively, call 0900881015 and follow the voice prompts or Ollin Sacco board members and staff pose for a group photo with the trophies the Sacco won during 2019 Ushirika day celebration.

send the word spot to 6645 for instructions on how to use SMS. Thank you. Ollin Sacco

Ollin Sacco CEO John Gathige talking to members of the press on their success.

The Sacco has various loans for various people like development and investment, the Sacco has, Development Loan, Ollin Investment Loan, Estate Loan, Capital Loan and Biz Loan. For salaried members, the Sacco has Ollin Premium Loan, Supa Loan, Fosa Loan, Fanikisha Loan, Okoa Loan and Alpha Loan. Other loan facilities at the Sacco include, Emergency Loan, Education Loan, Pamoja Loan, Stop Gap Loan, Savers Loan, Prime Loan and Ollin Scholars Loan.

Ollin Sacco members of staff and board being awarded for exemplary performance during Ushirika day in celebration in Kirinyaga County.

Having been registered on 14th June 1976 Ollin Sacco Society Ltd was registered on 14th June 1976 with a membership of 163 at its inception, has grown and the membership currently stands at 11,000.

With the head office located in Kerugoya town, Kirinyaga County in central region, which is approximately 120km from the capital city of Nairobi, it is expanding, and today has a branch in Mwea Ngurubani Town and a branch in Kitengela and Kiserian towns.

HEAD OFFICE KERUGOYA P.O. Box 83-00300 Kerugoya | Tel: 0724 256 461 | CEO Direct Line: 0798 369 696 CUSTOMER CARE LINES: H/Office: 0707 555 825 / 0707 555 802 KITENGELA BRANCH: 0711 356 753 / 0707 555 892 / 0707 555 886 MWEA BRANCH: 0722 781 092 / 0707 555 863 KISERIAN: 0740485382 EMAIL: info@ollin.co.ke | www.ollin.co.ke

Ollin Sacco Together We Prosper

Features • Competitive interest rates • No withdrawals limits • No ledger fees.

STOP GAP ACCOUNT This is an account for savings meant for retirement purposes.

How to become a member One only needs to fill a membership application form and attach a copy of his or her national ID. Application forms are available in all our branches and also can be downloaded from our website.

Deposit contributions Regular deposit contribution can be done through the following ways:- • Monthly check-offs • Cash deposits • Dividend/interest capitalization • Mobile banking

PRODUCTS & SERVICES SAVINGS PRODUCTS

ORDINARY SAVINGS ACCOUNT This is an account that is used for processing salaries, pensions and normal savings.

Features • Competitive interest rates • No withdrawals limits • Use VISA branded ATM and mobile banking to operate the account. • No ledger fees.

FIXED DEPOSIT ACCOUNT This is an account that earns interest on savings over a period of time.

Features • Competitive interest rates • Reasonable minimum amount of KSh. 20,000 • Can be used to access a loan. • You forfeit interest if you withdraw before maturity

CALL DEPOSIT ACCOUNT This is an account that is flexible to deposit savings and can be used to earn reasonable interest on money that is idle.

Features • The funds can be recalled any time and earn interest. • Earn interest on daily basis • Competitive interest rates

JOINT ACCOUNT This is an account for those willing to save jointly.

Features • Earns competitive interest rates which are compounded annually. • Withdrawals are done after retirement • No minimum opening and operating balance • No ledger fees.

CHILDREN’S ACCOUNT This is an account meant for children between age of 0 to 18 years.

Features • Free bankers cheque to school • No minimum balance • No ledger fee • Withdrawals is 3 times a year • Free banking and fun day for children To open the account the parent/guardian to the child requires the copy of the ID and child birth certificate/ birth notification.

CAPITAL LOAN This is a loan for long term investment for members.

Features • The loan is 3 times multiplier subject to 1/3 rule as per government regulations. • Competitive interest rate • Repayment period is 84 months • Applicant to have a minimum share capital of Kshs. 40,000. • The loan is secured by guarantors

INVESTMENT LOAN This is a loan for capital investment such as development of commercial plots, residential homes amongst others.

Features • The loan is 3 times multiplier subject to 1/3 rule as per government regulations. • Competitive interest rate • Repayment period is 72 months • The loan is secured by guarantors

DEVELOPMENT LOAN This is a product to cater for capital development.

Features • The loan is 3 times multiplier subject to 1/3 rule as per government regulations. • Competitive interest rate. • Repayment period is 60 months • The loan is secured by guarantors

14 SACCO TIMES | AUGUST - SEPTEMBER 2019 Features • Competitive interest rates • No withdrawals limits • No ledger fees. GROUP SAVINGS ACCOUNT This is an account for registered self help groups. Features • No ledger fee • The group can access a loan(Pamoja loan) BUSINESS ACCOUNT This is an account for business people and enterprises. PRIME LOAN This is a loan to buy off loans from other financial institutions on behalf of members. Features • This is a check off loan for members in the TSC and civil service only. • The member’s salary has to pass through the SACCO or fill in the paypoint forms. • The loan to be appraised using 1/3 basic salary rule • The loan to be 5 times member deposits • Maximum repayment period is 72 months • Competitive interest rate • Security will be guarantors

OLLIN PREMIUM LOAN This is unsecured loan for government employees(TSC and civil servants)

Features • This is a check off loan • The loan requires 20% of loan to be rolled back to deposits. • Repayment period is 60 months

ESTATE LOAN The loan is for the landlords/lady’s who want to expand their businesses. One has to open an estate account and channel the rental income through it for a minimum of 3 months.

Features • Loan qualified is subject to 75% of monthly rental income. • Competitive interest rate • Repayment period is 72 months • Valuation of the property has to be done • Property is charged in favour of the SACCO as security of the loan

SUPA LOAN This loan is available to all salaried members who are not employed by the government.

Features • Members needs to save for at least 2 months • The loan is 3 times multiplier. • Competitive interest rate. • Repayment period is 48 months • The loan is secured by guarantors

FOSA LOAN This is a loan open to all salaried members whose salary passes through the SACCO.

Features • This is an instant loan to a maximum of Kshs. 1,000,000. • Competitive interest rate. • Repayment period of 60 months • Security is guarantors

EMERGENCY LOAN The loan is meant to take care of unforeseen events such as hospitalization, funeral expenses and court fines.

Features • The loan is 3 times multiplier subject to 1/3 rule as per government regulations. • Competitive interest rate. • Repayment period is 12 months • The loan is secured by guarantors

EDUCATION LOAN This is a loan meant to cater for school, college and university fees.

Features • The loan is 3 times multiplier subject to 1/3 rule as per government regulations. • Competitive interest rate. • Repayment period is 12 months • The loan is secured by guarantors

OLLIN SCHOLARS LOAN

This loan is available to finance all levels of education.

Features. • This is a check off loan. • The loan is processed instantly. • The loan is 3 times member’s deposits • Competitive interest rate • The maximum repayment period is 24 months • The loan is subject to 1/3 rule as per government regulations • Secured by guarantors

FANIKISHA LOAN

This is a short term loan open to all salaried members whose salary passes through the SACCO.

Features • The loan is processed the same day. • Competitive interest rate. • Repayment period of 18 months • Security is guarantors

OKOA LOAN

This is a one month loan open to all salaried members whose salary passes through the SACCO.

Features • The loan is processed the same day. • Also the loan is accessible via mobile banking platform *645# • Competitive interest rate. • Repayment period of 1 month

ALPHA LOAN This is a loan for the newly recruited teachers and civil servants who have salary accounts with the SACCO but are yet to receive the first pay.

Features • The loan is processed the same day. • Maximum amount qualified is Ksh 100,000 • 20% is rolled back to the deposits • Competitive interest rate. • Repayment period of 36 months • Security is guarantors

BIZ LOAN

This is a loan for business persons to fund their businesses.

Features • A member saves for 2 months • A member qualifies 75% of the business proceeds • Competitive interest rate. • Repayment period of 36 months

MAPATO LOAN

This is a loan available to mapato savings account holders.

Features • A member have to save for at least 4 months before loaning • The loan is 2 times ones deposits • Security is guarantors • Repayment of 24 months • Competitive interest rate

ZION LOAN This is a loan for churches that can be used to access credit facilities to finance church projects such as land acquisition, construction, vehicle purchase, furniture purchase and equipment for the church such as music equipment.

Features • Encourage the church offering to be passing through the zion account • Save for at least 2 months • The loan is 10 times deposits. • Competitive interest rate • Repayment period of 60 months • Security of the loan to be guarantors or charged and valued title deed.

Kenya marks 2019 Ushirika day

The cooperative movement in Kenya is ranked high in Africa and is one of the best globally due to its asset base. Saccos hold the key to the most effective realization of the Big 4 Agenda due to their ability to mobilise savings and also offer the most affordable credit to millions of households countrywide.

President Uhuru Kenyatta tours the New KCC factory.

By Malachi Motano

President Uhuru Kenyatta led the national celebration of 2019 international day of cooperatives which is reffered to in Kenya as Ushirika Day and celebrated at the Counties as a result of devolution. According to the Department of Cooperatives, there are 23,000 registered cooperative societies, which share among them 14 million members. Collectively, the cooperatives hold Sh732 billion of member savings, control an asset base of Sh1 trillion and a Sh700 billion loan portfolio.

The national celebrations kicked off in Nairobi with President Kenyatta commissioning the revamped New Kenya Cooperative Creameries (KCC) Dandora Factory.

The President then proceeded to Upper Hill to officially open the National Co-operative Housing Union (NACHU) Plaza followed by Mwalimu Towers in the same area with the the climax of Ushirika Day celebrations at the Kenyatta International Convention Centre (KICC) where he delivered his keynote address as the Chief Guest.

President Uhuru Kenyatta joins thousands of dairy farmers for the inauguration of the revamped New KCC Dandora Factory as part of celebrations to mark Ushirika Day.

He was accompanied by Trade and Industrialisation CS Peter Munya and Nairobi Governor Mike Sonko.

The Head of state directed Trade and Industrialization Peter Munya to start restructuring Kenya Farmers Association and Kenya Planters Co-operative Union for the benefit of farmers.

President Uhuru Kenyatta (Centre) led the marking of 2019 Ushirika day at KICC.