Stima Sacco Resumes Instant ATM Issuance Services

Stima Sacco has resumed ATM services, a week after it announced a “system disturbance” that had been caused by high traffic shortly after announcing the dividends for the last financial year.

With the resumption of the services, the VISA-branded ATM card can be used to withdraw cash at any Co-Operative Bank ATM machine (with an upper limit of up to 40,000 shillings) and any other VISA-branded ATM machine.

The card can also be used at any Co-Op kwa Jirani Agent, up to a daily limit of 300,000 shillings as well as swiping at any Point of Sale device. Additionally, the card can also be used to complete online purchases and subscriptions.

“We, therefore, encourage our members without ATM cards and/or those with expired ATM cards to apply at the nearest Branch,” added Stima Sacco.

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Here is the statement from Stima Sacco:

Stima Sacco approved the payment of a first and final dividend of 15 percent on share capital to its members for the financial year ending December 31, 2022.

Stima Sacco members will also get interest rebate deposits at the rate of 11 percent for the period under review. The distribution brings the total payout to 3.56 billion shillings in 2022 an increase from  2.99 billion shillings in 2021.

The higher payout is despite slowed economic growth occasioned by the covid 19 pandemic and uncertainties in the electioneering year. Stima Sacco, despite the challenges, remained resilient and invested in “safe avenues” to cushion members from the biting inflation.

Stima Sacco reported a strong performance during the period under review, achieving significant growth and progress across all aspects of its business.

Its consolidated deposits increased from 34.2 billion shillings in 2021 to 39.43 billion shillings in 2022 representing a 15 percent growth.

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