Profile

Ammar Sacco was registered in December 2004 under the Co-operatives Societies Act Cap 490 to cater for the financial needs of its members. Membership is drawn mainly from residents within Muranga and Kiambu counties but it is open to all members of the public of Kenya.

The Sacco opened its Front Office Savings Activity (FOSA) in January 2012 and has been licensed by The Sacco Societies Regulatory Authority (SASRA) to carry out Deposit Taking Business. The Sacco draws its customers from farmers, civil servants, teachers, employees, pensioners, from various organizations and business people.

At Ammar Sacco, "we cater for growth". To ensure this, the key objective of the Sacco is to mobilize savings and advance credit to members from their savings. Over the years the SACCO has witnessed growth in its assets and membership. This can be attributed to our mission, vision and the efforts placed by our dedicated team to ensure smooth running of the Sacco.

Sacco Updates

Overdrafts
  1. Offered to existing and active account holders
  2. Rate of repayment is 2.5% per month
  3. Repayment within 12 months
  4. Must be secured and the collateral fully charged to Ammar Sacco.



Success Factors
  1. Concentration on a limited range of highly standardized credit products to reduce operating costs and streamline lending procedures
  2. Online compilation of key financial data and other risk relevant information concerning a client rather than relying on fragmentary out dated or inaccurate official data
  3. Compensation for the lack of conventional collateral through rigorous loan analysis and strong dynamic repayment incentives
  4. Joint decision making in credit committees which convene on a regular basis to keep processing times to a minimum
  5. A transparent and highly performance oriented staff remuneration and promotion system




Other services and benefits:
  1. Sale of in house Check books
  2. Sale of Bankers Check
  3. ATM Services
  4. Mobile Banking
  5. Free Financial Advisory Services
  6. No appointment to see Manager-Open Door Policy

Business Strategies