Apstar Sacco has opened a branch at Meru Greenwood Mall in the central business district as it eyes expansion in the upper Eastern region.
Speaking at the event on Friday, national chairman Phillip Cherono said Apstar Sacco was a strong organisation with members from all the 47 counties and in the diaspora.
He said the deposit taking sacco which was formerly known as Ukulima Cooperative had a wide range of products and services due to its strong financial position.
With an asset base of over Sh15 billion, the Sacco has a loan book of close to Sh12 billion and cash deposits of about Sh11 billion.
Among products on offer at Apstar are emergency and development loans to support the agricultural sector and housing.
“We want to partner with the community in Meru, all the stakeholders including the county government, small and large scale traders and employers. We want to partner with all farmers and are willing to support them in their endeavours including acquiring dairy cows and putting up dairy sheds,” Mr Cherono said.
He said the rebranding was intended to have everybody belong in the sacco, not just for the high income earners.
“Our clarion call is we want everybody, whether small or big. We want to support community development and government effort to empower the people so that all Kenyans are able to grow,” he added.
CEO Richard Nyaanga said Meru is a very rich potential area in almost all (economic) activities, adding that the aim was to bring services close to members.
Meru’s thriving agricultural sector which includes the popular miraa, dairy, and local enterprises offered opportunities to recruit more members who are currently 1,600, he noted.
“Going by the vast region and the economic activities, this is a rich area,” the CEO said.
Governor Kawira Mwangaza said the Meru region offered great opportunities for Apstar’s growth due to an economically vibrant community.
She said over the years the sacco had been instrumental in transforming the lives of many people through its diverse range of financial products and services and is it rebranded from Ukulima Sacco, it ushered a new era of growth.
“We are committed to working hand in hand with you to create an enabling environment for your operations to ensure that you have the necessary resources to serve our people effectively,” she said and urged residents to embrace saccos which provide financial empowerment.
The governor said by taking advantage of saccos to actively participate in their activities, residents would secure their financial future and contribute to the general development of the county.
