MENTOR SACCO ASSET BASE SET TO GROW TO KSHS. 20 BILLION WITHIN THE NEXT FIVE YEARS AS MORE  MEMBERS COME ON BOARD

Lender’s  marketing campaigns  bear fruits  as it recruits  more  members  across  the country and  in the diaspora

By George Gichuki

After successfully holding education, training  and  information forums in Kajiado, Mentor Sacco last weekend  engaged members in Machakos county. The venues were: Matuu  and Township  primary  schools  in  Matuu and Machakos  towns  respectively.  “ Our membership  in Machakos  has grown very fast in the last few years  because  of  a  roll out  of  aggressive  marketing campaigns ,”  said  Mr. Festus  Maina, the vice chairman of Mentor Sacco    adding  that  education, training  and information  forums  are a strategic  part of these campaigns.  During the forum at Matuu primary school,  fifteen   members  joined the tier one Sacco. 

Mr. Maina attributed  this growth  to  the friendly savings and loan products that the Sacco offers  as  well as its  rich brand heritage. “Our products are tailored  for  the members’ needs  and  they cut across  diverse demographics,” emphasized Mr. Maina. “We don’t copy and  paste the products  that other Saccos have developed,” he added.

By then known as Murang’a District Teachers Co-operative Society, Mentor Sacco was started  way back in 1977 by only five hundred and forty six  members. Its catchment area was the larger Murang’a district  in the then Central province of Kenya.  Having opened its common bond in 2011, the Sacco currently  serves over  forty  thousand members  throughout the country. Significantly, it has drawn members in the diaspora market including :Germany, UK and USA. This market is served via the Sacco’s mobile  banking  platform – dubbed Mentor QuickCash. According to Mr. Maina, going by its current  strategic plan, the Sacco’s asset base is set to grow  from Kshs. 14 billion to Kshs. 20 billion in the next five years. In the same vein, the membership is projected to hit eighty thousand.

MEMBERS’ TESTIMONIALS – MACHAKOS COUNTY

STEPHEN MWANIKI :OUR MONEY AT MENTOR SACCO IS WORKING FOR US

Mr. Stephen Mwaniki  is a teacher at Ithanga. He joined Mentor Sacco in 2016 as a fresh graduate from a teachers’ training college. With the financial support from the Sacco, he is currently undertaking a bachelor of education degree  course (specializing in geography and Christian religious education) at Mt. Kenya University. He is hoping to graduate in 2026. This will help him to grow  professionally.

In a strategic move, Mr. Mwaniki has joined hands with his professional colleagues  who hail from Mathioya sub-county to form an investment  group  dubbed: ‘The Local Teachers.’ Each member of this group contributes  Kshs. 300 every month which is invested in one of the popular products offered by Mentor Sacco – Mazao shares. This product earns  them very competitive interest  every financial year.  “Our money is therefore working for us,” Mr. Mwaniki proudly says.

ARTHUR KURIA: MENTOR SACCO HAS HELPED ME TO DIVERSIFY MY INCOME

Mr. Arthur Kuria, a teacher at  Yamoto primary school in Kithimani, Machakos county, joined Mentor Sacco in 2017.  “I save religiously   with  Mentor  Sacco every month  and this has enhanced my borrowing power,” he says.  Using loans from the Sacco whose  interest is very  competitive, he has been able to invest in agribusiness, besides purchasing a piece of land.  “Mentor Sacco has never disappointed me whenever I am in need,” he happily says.

Mr. Kuria attributes the fast growth of Mentor Sacco in Machakos county to the exemplary experience given to members. “True  to its mantra, the Sacco indeed adds value to my  life,” he quips.

LEAH IRUNGU: MENTOR SACCO IS A FRIEND IN NEED AND  IN   DEED

Mrs. Leah Irungu, a teacher  by profession, joined Mentor Sacco in 2000. She was  inspired  by her father- a retired  teacher  and one of the early members  of Mentor –  to  join  the tier one Sacco. “I have never been disappointed by Mentor Sacco ever since I became a member,” she says. One of the major benefits of being a member is that Mrs. Irungu has educated her children up to university. “ I recall a period when my friends would complain that they were signing my  loan forms too often; but I would   politely  tell  them that the responsibility to pay was  mine,” she says.

Once her children graduate and secure jobs in the near future, she will encourage them  to join Mentor Sacco. Mrs. Irungu further says that the Sacco has helped her to avoid the shame of borrowing money from relatives and friends; especially when she has emergency needs. 

MARY KAMAU: MENTOR SACCO IS ASSISTING ME TO MEET MY FINANCIAL GOALS

Mrs. Mary Kamau is a teacher at Matuu primary school. She joined mentor Saco in 2018, immediately after being  employed by the Teachers’ Service Commission. Faithful in her savings,  Mrs. Kamau has  accessed several loans from the Sacco. She has  used  them  to  improve her standard  of living. “Mentor is a very supportive  and friendly Sacco and I am  proud  to be its  member,” she says. “I am treated very well by its staff members  and  they process my loans very efficiently,” she adds. She used one of the loans to further her education at Thika Technical Training Institute.

Mrs. Kamau thanked the management of Mentor Sacco for successfully organizing an education, training and information   day at Matuu Primary School. “I have learnt a lot regarding  the product offering  of the Sacco  and I will use that knowledge to achieve  my  financial goals,” she said. Finally, she made a passionate appeal to young professionals  and entrepreneurs  to join Mentor Sacco in their quest to achieve financial success.