Mentor Sacco Members Count their Blessings One by One

anywhere else to go, just do your mathematics and find something small for me. I have children who need fees. I don’t even have fare to go to work and I can’t afford to pay my house rent.” the above were Jane

Maina’s confessions to Mentor Sacco loan officers, every time she went to request for a loan. Jane Maina joined

Mentor Sacco exactly two decades ago upon getting into employment, thanks to her teacher colleagues at Mbiri primary school in Murang’a County, who were already members. However, she was not able to use banking services since she could not raise the minimum deposit, that

By Malachi Motano

“I know I have a very big loan to service and clear, but among the many loan products you have, just find something little for me. I don’t have was a requirement of the bank.

“I am a teacher by profession and have been a member of Mentor Sacco since 1990, a year after I got employed by the Teachers Service

Commission (TSC). However, my salary could not meet Kshs 10,000 minimum deposit which was a mandatory requirement by commercial banks. My colleagues who were already members of Mentor Sacco, told me that it would add value to my life,” she stated.

She joined the Sacco and after six months, borrowed some money to pay her fees at the university. “I had joined Kenyatta University but did not have money at that time, so I borrowed Kshs 40,000 to pay for my school fees,” she says. Committed to give the best education to her children, Jane wanted to transfer her two boys to a private school, but did not have enough money. In addition, she had not fully serviced the first loan. Luckily, Mentor Sacco had a top up product that enabled her to take another loan to complete the previous one and remained with some money, for other projects which she equally enjoyed.

“I was moving my children from public school to a very expensive school called Technology school, where admission fee only was around ten thousand. I had to buy uniform and make sure they had enough books, as per school requirements. So I topped up with

Kshs 16,000 that was around 1992 and it was a lot of money then,” says Jane. Having done special needs in education at the University, she didn’t go back to the primary school upon her graduation, instead she was transferred to Our lady of Mercy Centre in Nairobi to work at the resource center.

“I did not have the money to move with my family to Nairobi. I could not pay rent which was then only Kshs 2,000. Mentor Sacco had an emergency loan product which I borrowed. That is why I praise Mentor, it listens to individual needs. I would tell them that I was aware I had pending loans but since I had no other choice, I would ask them to consider me, which they did.’ she says.

After settling in Nairobi and understanding the trends of the city, Jane wanted to put up a permanent residence. However, her savings and investments were not enough to help her secure a piece of land in the city,

she was left with only one option- going back to Mentor Sacco.

“I sold a plot which I had bought in Murang’a and bought a plot in Nairobi. Mentor Sacco gave me Kshs. 300,000. I only managed to do the foundation with the money. After another two years, I went back to the Sacco and since I had sold another plot bought together with family members and deposited some money at the Sacco, my shares were good. So they gave me another Kshs 600,000.”

Her house was not yet complete and had to go for more top-ups at Mentor Sacco. “I remember I didn’t have iron sheets so I went back to the Sacco and asked for another loan, to complete my house. I was given Kshs 70, 000 to buy the iron sheets. Today I am a proud owner of a house in Mimbley estate in Ruiru, courtesy of Mentor Sacco,” she proudly declares.

By 2014, Jane had become a Curriculum Support Officer. Her work involved visiting different schools to assess teachers. She started admiring her colleagues, who would visit different schools driving and could not withstand her situation.

“I went back to Mentor and asked for a loan to buy a small car to avoid compromising my work. The Sacco gave me a top up of Kshs. 300,000 to complete the previous Kshs. 600,000, I had taken to build and then enabled me to buy a small car. That is how I got my first car,” she says.

By 2015, Jane had a house and a car but her children were still learning, so needed more money. “Because my two sons were going for university education, I went back to the Sacco to take more emergency loans to pay their fees. I developed a culture where I would borrow a FOSA loan to re-pay the emergency loan I took earlier, then borrow an emergency loan to repay FOSA and the trend continued. My first born completed his studies at Strathmore University, while the young one is at Catholic university,” she says.

In 2017, she borrowed Kshs. 2 million to buy a big car. “Currently I have a big loan of Kshs 3.6 million to see the successful establishment of Plateau Lounge and restaurant, a business which I partnered with six other like-minded individuals, grow to fruition. I have never stayed without loans since I joined Mentor Sacco. After I won their confidence nowadays I ask for a loan, they simply tell me to walk into any branch around me like in Nairobi or Thika. Getting guarantors is not a problem, because I have recruited many teachers into the Sacco so I can always get a loan.” she says.

On giving back to the Sacco, Jane has won many savers. “I have introduced many to the Sacco, including my first born. Recently, we had a teachers meeting where I shared how the Sacco has helped me and very many teachers joined the Sacco, courtesy of my talk. At one point I had gone to Dubai and gotten stuck, despite of having my Visa card. I called the branch manager in Murang’a and told him I needed money and he was able to assist me.” She added.

Like Jane, Daniel Mwangi, is another beneficiary albeit being fairly new. He has been a member of Mentor Sacco for only five years, but is a big beneficiary nonetheless. “I have been selling used motor vehicle spare parts for a long time along Kirinyaga road, before coming to Ngara about five years ago where I joined Mentor Sacco. I knew the Sacco’s former Chairman, who introduced me to the branch in Ngara. After learning of their good products and services I joined, became a member and started saving with the Sacco.” He noted. Daniel saved with Mentor Sacco for only six months but qualified for a big first loan.

“After the six months I got my first loan of Kshs 2 million. My loan uptake journey with Mentor Sacco did not stop there. I got another loan of Kshs 5 million, which I have been topping up and am currently servicing a total of 10 million.” he says.

The businessman, has also introduced some of his colleagues who have joined the Sacco.