Equity Sacco named most efficient in the country

Equity Savings and Credit Cooperative Society has been named as the Most Efficient Sacco in the country.

The Sacco, which draws its membership from Equity Bank staff, also emerged the Most Efficient Employer Based Sacco.

Commenting on the awards, Equity Sacco Chairman Ambrose Ngari said the accolades will encourage Equity Bank staff to increase their savings even further.

“We are encouraged by the recognition of our performance. Members’ funds are invested in the most efficient way and our promise is to build on these gains,” said Mr Ngari as he received the awards during the International Cooperative Alliance (ICA) Day celebrations held in Nairobi.

Last year, members of Equity Sacco earned an unprecedented dividend of 25% on share capital and 20% interest on deposits. The exceptionally high rebate was attributed to focused strategy, a robust business model and prudent operating disciplines adopted by the management.