PHOEBE EDITED - BACKGROUND OF UKULIMA SACCO Ukulima Sacco...

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BACKGROUND OF UKULIMA SACCO Ukulima Sacco Society Limited registered in 3 rd February 1972 as a savings and credit cooperative society with the objective of promoting thrift among ministry of agriculture employees to save and borrow at low cost in order to meet the employees’ socioeconomic needs. It is situated in Coop house along Haile Silesia Avenue. Later, a common bond was open thus the society current membership of 32,722 is spread out in all government ministries, parastatals, water boards, NGOs and reputable private organizations countrywide. From a humble beginning, the society is one of the giant has grown from strength to strength and today is one of the giant Sacco in Kenya. This is evident by the continued growth in terms of membership, share capital, loans to members, investments and payment of dividends to members. The Society has staff strength of 148 made up of 42 managers and 106 unionisable staff under a Chief Executive Officer (CEO). These staff have been divided at headquarter level into six departments namely: Human resource and Administration, Finance, Credit, Internal Audit, Front Office (FOSA) and IT all headed by departmental managers. All departmental managers’ report to the Chief Executive Officer who in turn reports to the Board of directors. For effective and efficient service delivery on their various functions, the society invests heavily on staff training. The unionisable staff are members of the Banking Insurance and Financial Services Union (BIFU) with whom the management negotiates the staff’s terms and conditions of service. The management maintains cordial relationship with the Union which has led to good industrial relations. Employees are in a good working environment; spacious offices with clean and nice floor, good ceiling board, enough windows, comfortable seats and working tables, good working lights, clean water and clean washrooms. We have several departments among them include IT department, finance, Human Resource, Audit, Credit, FOSA, working together to achieve the Ukulima Sacco set objectives. 1.2.1 Ukulima Sacco vision To be a Sacco of choice 1.2.2 Ukulima Sacco mission To provide quality savings, credit, front office (FOSA) facilities that enhance members’ economic and social empowerment. 1.2.3 Ukulima Sacco Objectives
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To promote thrift among its members by affording them an opportunity for accumulating their savings and deposits and providing them with credit exclusively for provident and productive purposes, at fair and reasonable rate if interest; thereby enabling them to use and control their money for their mutual benefit. To ensure personal growth through the introduction of new products and services that will promote the economic base of the members.
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