Stima Sacco Opens 3 New Branches, Targets 30,000 New Members

Kenya’s largest Sacco in asset-base and dividend payment, Stima Sacco has increased its branch network to 12 with an addition of three new ones. With the new branches, Stima Sacco says that it is targeting to net at least 30,000 new members.

The three additional branches are located in Kisii, Meru, and Electricity House (in Nairobi). Stima Sacco hopes to use the new branches to take the services closer to the people.

“With these new additions, our branch network now stands at 12, providing convenient access to our services by our members,” said Stima Sacco in a statement on Wednesday.

In addition to the new branches in Kisii, Meru, and Electricity House (in Nairobi), Stima Sacco also has branches in Mombasa, Kisumu, Nakuru, Olkaria, Eldoret, Embu, Parklands (Nairobi), Kawi (Nairobi), and CBD (now renamed Kimathi Street).

“Our branch network covers a wide geographical area, ensuring that our members have access to our services no matter where they are located,” added Stima Sacco.

Stima Sacco has called on their members to take advantage of the new branches to transact at their convenience and save on time and resources.

As of December 2022, Stima Sacco had 177,260 members, a growth from 154,308 members as of December 2021. With an asset base of about 54 billion shillings, Stima Sacco has positioned itself as a giant Sacco in a country that has been pushing for the realization of the savings culture.

In the just-concluded financial year, Stima Sacco gave its members 395.7 million shillings as dividends. This was the highest dividend ever paid by a Sacco in Kenya’s Sacco history.

At the same time, Stima Sacco gave out more than 45 billion shillings as loans to their members, further stamping its authority as an enabler of financial inclusion in Kenya.

Stima Sacco has remained the main viable savings vehicle for more than 150,000 Kenyans who are also the official shareholders who earn dividends at the end of every financial year, further boosting Kenya’s not-so-good savings rate.

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