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NACICO now targets Busia County

By Busia County

on 13 August, 2016 11:29 AM

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NACICO co-operative savings and credit society limited is targeting Busia County as part of its expansion programme to recruit more members. Speaking in Busia on Friday after paying a courtesy call on County Secretary Nicodemus Mulaku in his office, NACICO Marketing Executive Grace Owiyo regretted that the saving culture of Kenyans is low.

” Many Kenyans have not been sensitized on the need to save their money. Some of them hide their savings under the pillows or save them in non viable projects. We are now moving to Counties to have their employees join our society. To be a member of NACICO SACCO, one pays an entrance fee of Sh100, and a minimum of Sh2,000 per month and insurance of Sh250 per month,” she said.

She said NACICO was offering many credit products including Jisort, development, emergency, school fees, college fees, Christmas, personal and re-financing loans at less than 2 per cent interest on reducing balance. Owiyo said Jisort is a product for new members joining the society and need an immediate loan facility. A loan of between Sh10,000 and Sh120,000 is offered with a competitive interest of 1.7 per cent per month on reducing balance. The repayment duration is 24 months and the loan is secured against death.

NACICO was established in 1975 with membership mainly drawn from then Nairobi City Council. However, with liberalization of the co-operative sector, the Sacco is now open to the general public.The headquarters is at NACICO Plaza off Landhies Road in Nairobi. It has offices in Mombasa and Kisumu which serves Nyanza and Western regions. Owiyo said Kisumu office is situated on Pioneer House along Oginga Odinga road.

Photo: NACICO Marketing Executive Grace Owiyo in Busia on Friday.