Urithi Premier Sacco, which is associated with Urithi Housing Cooperative Society has rebrand to Premier Sacco after three years of recorded growth.
The Sacco also intends to changes its structure as it streamlines its activities during this hard-economic times.
Premier Sacco will also transform into a Fosa as to give it room for growth.
Chairman Pius Thuku says the changes come after the Sacco recorded tremendous improvement in its asset base and share capital in the last three financial years.
Speaking during the Sacco’s annual general meeting in Thika, Thuku said the move will enable the Sacco expand in its membership and assets.
He said the rebranding and incorporation of a simpler name will give the Sacco a more unique identity and appeal to new consumers seeking financial services.
He said the Sacco will train its staff in line with the new changes to enhance their competence in order to meet the changing and dynamic needs of its customers.
According to the Chairman the change will also give the Sacco a distinct outlook and end the confusion with Urithi Housing.
“To erase that confusion we have decided after consulting our advisers that it is important we adopt a unique name such as Premier Sacco,” he said.
The new changes will however be gradual as the Sacco has to amend its by-laws.
Urithi Housing Cooperative Society Ltd Chairman Samuel Maina however says he will not be cowed by negative publicity that has tainted the image of the institution.
Speaking at the same event, Maina said it is not criminal for anyone to face financial hurdles and consequently fail to service loans.
“If you are growing, you must have loans and court cases. For a bank to lend anyone a billion means they have the capacity to pay back. I urge the media to stop spreading falsehoods regarding the society.” he said.
While many financial institutions continue to wrestle unfriendly economic times in the country, Maina maintained the Cooperative will surmount its current challenges.
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