Sonia Odek

The word SACCO means Savings and Credit Cooperative Organization. A Sacco is owned, managed, and run by its members who have a common bond, in this case, Kenyans living in the USA. Membership is open to all Kenyans regardless of race, tribe, gender, political affiliation, religion, or job status. A member of the Sacco is a person admitted to membership after registration in accordance with the Sacco’s by-laws. In 2011, a team of five talented Kenyans came together with the goal of finding out how to register a Sacco. This was after having different challenges investing back home. They all had different unpleasant experiences either with family members and friends or with institutions back home. To make things better they sat down to explore their options and their networks to register an organization that could be owned and used by Kenyans in the diaspora. In addition, they approached the Kenyan Ambassador to the United States then, H.E. Elkanah Odembo, who referred them to the right people to help since they were not based out of the country at that time. Through various discussions they were successful in registering the Sacco through the Ministry of Cooperative Development and Marketing on 26th January 2012, becoming the first Kenyan E-Sacco, with its head office in Nairobi. Objectives of a Sacco include but are not limited to: 1. Organize, promote the welfare and economic interests of its members 2. Provide a source of fair loans and reasonable rates of interest 3. Promote personal growth through the introduction of new products and services that will promote the economic base of its members 4. Ensures progress of its members and society through continuous education programs, on proper use of credit, reduction of poverty, human dignity and co-operation 5. Affiliation to the relevant National Co-operative Credit Union and the Apex Society What we offer: • Opportunity to save • Access to credit and loans • Low-interest rates on loans • High returns on investments