[Kenya] Cooperative Bank partners with Metropolitan Sacco to boost service delivery to members

Co-operative Bank of Kenya has deepened its strategic partnership with the Metropolitan National Sacco, formerly Kiambu Teachers Sacco, to streamline and enhance service delivery to the members. The bank is offering corporate advisory services through its subsidiary, Co-op Consultancy to build capacity for long term sustainability. In addition, under a Corporate Restructure Program, the Bank has restructured the Sacco’s funding requirements to better manage the members’ monthly loan demands as well as the overall liquidity flows aimed at a complete turnaround of the Sacco.
Metropolitan National Sacco is one of the largest Saccos in the over 15 million member co-operative movements and has a membership of over 100,000, a total assets base of Ksh 13.6 billion and runs eight branches spread across the country.
The Sacco has stabilised its operations with additional effort geared towards recovery of the outstanding loans while availing the recovered funds for on-lending to members. The Bank has re-launched the Saccolink debit card, Sacco Personal Cheques and trade finance partnership to increase the Sacco’s revenue base through its front office service activity (FOSA).
Speaking during the signing of the restructuring agreement, the Sacco chairman Christopher Karanja commended Co-operative Bank for the timely intervention noting the restructuring has really injected new impetus for growth at the Sacco.
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