Kenya Police Sacco Leads in Rewarding Top Savers

Kenya Police Sacco Leads in Rewarding Top Savers & Conducting Member Education Drive Across the Country Amid Covid-19 Pandemic

By June Njoroge & Anthony Mwachiro.

The giant Kenya Police Sacco, undisputedly remains to be the most viable Sacco to join in 2020.

The acclaimed Sacco has set pace on multiple fronts, by rewarding top savers and leading a countrywide member education drive, amid the Covid-19 Pandemic.

Speaking at the recently concluded Top Savers Seminar at Sarova White sands resort in Mombasa, the national Chairman Mr. David Mategwa, OGW, DNS, ICUDE, said the objective of the seminar was to encourage more saving and boost the saving culture amongst members of the Sacco.

‘We continue to focus on sustainability as a business response to challenges facing business globally. Empowering members for quality lives, whilst encouraging innovation and development using the latest technology,’ Mr. Mategwa stated. He further added that the Sacco has revised its operation mechanism on organizational resilience to offset the effects of the Covid-19 pandemic to members. In attendance was the Chief guest, State Department of Cooperatives PS, Ali Noor Ismail, Inspector General of the National Police Service, Mr. Hilary Nzioki Mutyambai, National Service Police Commission, Mr. Eliud Kinuthia, Deputy Inspector General Mr. Edward Mbugua,

Kenya Police Sacco National Chairman, OGW, DNS, ICUDE Mr. David Mategwa, giving his address at the Top Savers Seminar in Mombasa.

State Department of Cooperatives PS, Mr. Ali Noor Ismail adressing members at the Kenya

Police Sacco Top Savers Seminar in Mombasa.

The Inspector General of the National Police Service, Mr. Hilary Nzioki Mutyambai, giving his address at the Kenya Police Sacco Top Savers Seminar in Mombasa.

former Inspector General Mr. Joseph Boinnet, Board of Director and Management together with the Sacco’s best savers.

The PS noted that the government was key in giving maximum confidence to Saccos, as the security of members’ savings remains to be a paramount concern to the government, with regulations already put in place, calling for members to save more.

He further noted that the Kenya Police Sacco has instilled confidence in members, having been awarded as the best in credit service management during the 2019 Ushirika day. Mr. Eliud Kinuthia, NPSC Chairperson, called on civilians working in the police department to join the Sacco.

Similar sentiments were shared by the former Inspector General, Mr. Joseph Boinnet, who noted that the Kenya Police Sacco has invested heavily thanks to the commendable saving culture inculcated by the Sacco.

The various guest speakers, lauded the Sacco management for implementing effective measures meant to increase more savings from members; which has boosted the asset base to the current Kshs 35billion.

The distinguished Sacco has been embracing in full throttle the significance of 5th Co-operatives Principle on Education, Training and Information; which emphasizes on the importance of member education, in acknowledgement that an enlightened member is

Former Inspector General of Police, Mr. Joseph Boinnet during his key

a better investor. In full cognizance of this the Sacco also recently conducted a countrywide member education drive. The initiative, which is well aligned to the Sacco’s 2020-2024 strategic plan, that highlighted membership as a key thematic area, was carried out strictly adhering to the safety precautions, stipulated by the Ministry of Health,

address at the Kenya Police Sacco Top

National Chairman Mr. David Mategwa, OGW, DNS, ICUDE, the Board of Directors and regional officials. The exercise was a vital move to inform and empower members and non-members, to aid them in making informed choices in regards to saving and investing with the Sacco; whilst also enlightening them about the vast array of products and services offered.

Savers Seminar.

Chairman, Mr. David Mategwa and Chief invited guests share a chat at the Top Savers Seminar in Mombasa.

to curb the spread of the coronavirus disease.

Spearheading this initiative, was the

The Kenya Police Sacco National

Kenya Police Sacco remains to be the most credible Sacco to join, with a track record that speaks for itself and utilizes

The Kenya Police Sacco Top Savers and invited guests pose for a group photo at the Top Savers Seminar in Mombasa.

National Treasurer Amos Tingos, conducting a members education session at Chuka Police Station.

Director Eric Tumwet conducting member education in Kainuk,Astu camp.

Director Jamleck Gichobi during the member education drive at Mt Kulal police station.

state of the art modern technology in service delivery through its online platform.

There are a myriad reasons to join the distinguished Sacco such as the payment of high annual dividends and interest on deposits, low interest rate on loans, instant mobile loans through the M-Tawi platform, loan clearance on behalf of members and affordable property with investment co-operative.

In addition, Kenya Police Sacco, was recognized as one of the key cooperative shareholders, in the Kenya Mortgage Refinance Company (KMRC), during their recently held first virtual AGM, having already launched and commenced rolling out the mortgage product. Consequently, acquiring property through the Sacco will be more affordable for members.

The acclaimed Sacco has been fully embracing and practicing the seven Co-

operatives Principles in all its operations, which are based on the Co-operatives identity and values of self-help, selfresponsibility, equality, equity and solidarity.

Sacco Times Magazine carried out an evaluation of the prestigious Sacco, through the lens of the seven founding principles of the Co-operative movement:

• Voluntary and Open Membership

In terms of this 1st Co-operative principle, Kenya Police Sacco is open to all persons, provided they abide by the Sacco’s by laws and accept responsibilities of membership; devoid of any bias and irrespective of gender, tribe, religion or political affiliation. Currently membership stands at 61,755 and is bound to increase owing to the recently conducted countrywide member education exercise, coupled with the benefits to be reaped from being a member as aforementioned.

The Sacco attributes its stellar performance to the loyalty of its members, as the national Chairman

Mr David Mategwa acknowledged during the Sacco’s ADM on March 4th 2020.

• Democratic Member Control Co-operatives are democratic organisations controlled by their members. Management of a Co-operative Society is always on democratic lines with members having equal voting rights. Kenya Police Sacco abides by this law, having conducted their Annual Delegates Meeting (ADM) in the first quarter of the year, before the ban on public gatherings due to the Covid-19 pandemic. This saw the re-election of Mr. David Mategwa, OGW, DNS, ICUDE, as the Chairman of the Sacco, three members of the board and one from the supervisory committee were retiring and the election helped fill the vacancies.

• Member Economic Participation. Members contribute equitably to and democratically control the capital of their Co-operative. It is through the diligent member economic participation that the Kenya Police Sacco has been exponentially registering stellar financial performance year after year. Currently the Sacco’s asset base stands at Kshs 35 billion; a 20.4% increase from Kshs 29 billion of 2018, with a turnover of Kshs 5.8 billion. The society paid out dividends on members share capital at a rate of 17% and interest on deposits at a rate of 10.5% in the year under review.

• Autonomy and Independence. Co-operatives are autonomous selfhelp organisations controlled by their members. Kenya Police Sacco is an independent Co-operative in the tier –one league and regulated by the Sacco Societies Regulatory Authority (SASRA).

The renowned Sacco is ISO 9001:2015 certified with a stable rating from the Global Credit Rating (GCR) due to its strong capital and solid risk management position. The Sacco was feted as the best managed and the best in credit management, countrywide at the 97th Ushirika Day Celebrations in 2019.

• Education, Training and

Information. Co-operatives provide education and training for their members, elected representatives, managers and employees so they can contribute effectively to the development of their co-operatives. As aforementioned, the Sacco recently conducted a countrywide member education drive.

• Co-operation among Co-operatives Co-operatives serve their members most effectively and strengthen the

co-operative movement by working together through local, national, regional and international structures. Kenya Police Sacco has co-operated with other Saccos and affiliated bodies, as a primary shareholder, in the creation of the Co-operative Coronavirus Response Committee (CCRC) to give towards the Co-operative Covid-19 Fund, to support 500,000 vulnerable households adversely affected by the Covid-19 Pandemic.

• Concern for the Community Co-operatives work for the sustainable development of their communities through policies approved by their members. The Kenya Police Sacco has been at the forefront of giving back to the community and especially during these turbulent times of the Covid-19 Pandemic. The Sacco is one of the key shareholders of the Co-operatives Coronavirus Response Committee (CCRC), created with the chief objective of cushioning fellow vulnerable and needy Kenyans, who have been adversely affected by the Covid-19 pandemic.

The initiative is aimed at supporting 500,000 vulnerable households, by equipping them with the survival ‘Co-op kit’ through the Co-operatives Covid-19 Fund.

The kit consists of food stuffs, gloves, masks and hand sanitizers. The Sacco recently also made a massive donation of face masks, gloves and hand sanitizers to police officers in all the forty-seven counties, who were acting as the frontline combatants in the fight against Covid 19.

As part of its Corporate Social Investment, the Sacco frequently visits children homes to make food and clothing donations. The Society is also supporting the construction of nine classrooms at Utumishi Girls and sponsoring seventy students at various levels of high school. All these initiatives have positively impacted the society.

KEY TESTIMONIALS “There are almost 1,000 millionaire police officers, at the Kenya Police Sacco, as attested by the statistics from the 2019 financial report. We are legitimate savers and investors, with money earned from our hard work, saving every penny into the Sacco. I want to dispel the notion that when a police officer is successful, he or she must have engaged in corruption. We make our money legitimately through service to Kenyans and the country as a whole.” Former Inspector General, of the National Police Service, Mr Joseph Boinnet.

”The National Police Service is now a major investor in the economy of Kenya. We have a good number of millionaires, who have saved in the Sacco. The essence of every business venture, is to get good returns, in this regard I wish to laud the Sacco, for the good performance over the years, but more significantly, the impressive results posted in the 2019 financial year.

This saw the members and our officers in particular, benefit from one of the most competitive dividends and interest rates in the market.

This is definitely a reflection of prudent management of resources, that creates value for the members, affording our officers peace of mind, enabling them to concentrate on their core mandate.” The current Inspector General of the National Police Service, Mr. Hilary Nzioki Mutyambai.

“As the Chairperson of the National Police Service Commission, am ready to debate this on any platform, that our employees work hard for every coin they have and they are great savers” Mr. Eliud N. Kinuthia.

Excellence Happens Here 2020 Customer Service Week

Sacco Times Magazine wishes our highly esteemed clients, a happy customer service week. Our sincere gratitude goes to all of you, for the unwavering business support demonstrated in our many editions. The theme for this year is ‘Dream Team’ to reflect on the importance of teamwork, in providing outstanding service to all customers. At Sacco Times Magazine, we value teamwork and as a dream team, we are: Strategic Talented Ambitious Innovative Creative Meticulous Committed Enthusiastic Optimistic Savvy

We applause and thank our loyal clients: Kenya Police Sacco, Imarika Sacco, Safaricom Sacco, Stima Sacco, Kimisitu Sacco, Harambee Sacco, Cosmopolitan Saccco, Imarisha Sacco, Boresha Sacco,Wakenya Pamoja Sacco, Ollin National Sacco, Finnlemm Sacco, Universal Traders Sacco (UTS), Tower Sacco, Mentor Sacco, Mombasa Port, NewFortis Sacco, Capital Sacco, Unaitas Sacco, Lengo Sacco, Dimkes Sacco, Tabasamu Sacco, Mwito Sacco, Stegro Sacco, Magereza Sacco, Transnational Times, Kisumu Teachers Sacco, Bingwa Sacco, Metropolitan Sacco Biashara Sacco, Skyline Sacco, Orient Sacco, Solution Sacco, Tai Sacco, Winas Sacco, Patnas Sacco, IG Sacco, Wevarsity Sacco, GDC Sacco, Kimbilio Daima Sacco, Ndege Chai Sacco, Ukristo na Ufanisi, Kwetu Sacco, Yetu Sacco, Shirika Sacco, Qwetu Sacco, Ukulima Sacco, Daima Sacco, Mafanikio Sacco, Shoppers Sacco, Jitegemee Sacco, Tabasuri Sacco, Kitui Teachers Sacco, Gusii Mwalimu Sacco, Southern Star Sacco, Elimu Sacco, Vitikas Sacco, Kenya Achievas Sacco, Kenya Bankers Sacco, Siraji Sacco, Umoja Wendani Sacco, Maisha Bora Sacco, Mudete Sacco, Hazina Sacco, Unison Sacco, Afya Sacco, Fortune Sacco, Teleposta Sacco, Waumini Sacco, Kenpipe Sacco, Mhasibu Sacco, Chai Sacco,Enea Sacco, Eco Pillar Sacco, Balozi Sacco, Taqwa Sacco, Lainisha Sacco and Taifa Sacco.