Wednesday 20 June 2012

UN year of Co-operatives

As we reach the midpoint of the year 2012, it will be prudent  to ask ourselves as society  and as individuals whether we have achieved  the goals we set in January. Taking account of ourselves will help us not only to remain focused to achieve what we are yet to but also to take a corrective path if need be that will ensure that we do not deviate from them.

In January, I highlighted reasons why you ought to be in a Sacco or group savings scheme for that matter. Apart from pooling resources together for wealth creation purposes, events  that have occurred in our financial sector for the last six months should trigger you to action and run to register to the nearest Sacco. High inflation rate, unbearable interest rates in loans, rising fuel and food costs just to name a few, are some of the factors that you need to take into account and ask yourself if you have a soft landing for you and your family in the event conditions remain as they are.

Here in the co-operative movement we are as relevant as we were over 30 years ago to offer you alternative financial services in a more regulated environment. Sacco s have continued to offer affordable flexible credit even when the macro economics in the financial sector dictated otherwise. This is because of the business model that many of them have adopted; pooling resources together, and lending within. This ensures that money stays within the common bond members hence cushioning them against any erratic changes in the financial sector but also assures them of attractive dividends at the end. Credit is also widely available and thus members take advantage of this to borrow at lower interest rates compared to the mainstream banks.

For more advise on how you can benefit from being in a Sacco , please visit our website at www.kimisitusacco.or.ke  and remember 2012 is the UN international year of cooperatives