Nyati Savings and Credit Cooperative Society was registered in 1977 under the Cooperatives Societies Act by then employees of Securicor Security Services (K) Limited (currently G4S Security Services). In 2016, Nyati Sacco was licensed to conduct deposit taking business under the Sacco Society Act of 2008. Under the watchful eye and regulation of the Sacco Societies Regulatory Authority (SASRA), the Society continues to respond to the emerging and growing needs of members.
The objective of the society was to create a vehicle to promote a savings culture among the members and to lend out loans to the members for personal development, school fees and emergency expenses.
In the execution of its mandate as a savings and credit cooperative society, Nyati Sacco encourages thrift among its members by affording them an opportunity to accumulate savings and offers credit at a fair and reasonable rate of interest for development and other needs. The Sacco also offers financial services which serve the interests of members. Through a risk management programme and continuous education of members, the Sacco ensures proper use of credit and security of members’ savings and investments.
Over the years the society has grown from strength to strength to become a commercially autonomous, democratically controlled and self-reliant business enterprise. This is due to the support received from our members and other stakeholders at large. Currently, our asset base stands at 3.3 billion; our loan portfolio is 2.9 billion. The assets are supported by member deposits of 2.2billion, share capital of 148 million and other liabilities (Audited report FYY2019).
The Sacco has also experienced growth in staff numbers and professional experience. Our modest service provision has awarded us various achievements such as:
- Governance – Chairman of the year (2nd runners up)
- Best Sacco in Risk management
- Best Sacco in ICT (2nd runners up)