Unaitas Sacco Society Limited, whose full name is Unaitas Savings & Credit Cooperative Society Limited, also Unaitas Sacco, is a savings and credit co-operative society (Sacco) in Kenya. Membership includes individuals, investment groups and small businesses.[2]
Overview
Unaitas Sacco is a medium-tier financial services provider in Kenya. As of, the society's asset base was valued at KSh9.3 billion (US$93.2 million), and a loan book of approximately KSh7.42 billion (approx. US$74.35 million).[1] At that time, shareholders' equity was valued at more than KSh3.6 billion (approx. US$36.07 million) and membership was more than 230,000.[3]
History
The society was established in 1993 as Murang'a Tea Growers' Society, by a group of farmers, who pooled resources to create a financial institution where they could save and borrow at affordable rates. In 2007, the Sacco expanded beyond Murang'a and it admitted members who are not tea growers and small businesses. The name was changed to Muramati Sacco and eventually to Unaitas Sacco in 2012.