STIMA SACCO SOCIETY LIMITED - Kisumu

Stima SACCO was established in 1974. It was formed to act as a means of facilitating savings and to provide affordable credit to employees of the then east African Power & Lighting Company. The Society is therefore 39 years old. On the other hand the society responded to members banking needs and introduced the Front Office Service Activity (FOSA) in April 2003 to offer basic banking Services to members. The objective of establishing Stima Sacco was to enhance members’ individual socio-economic status by way of mobilizing savings and affordable credit facilities.
The strategic plan was formulated by the Kisumu branch staff members. The one year strategic plan is effective from January 2014.The changing business environment will necessitate periodical review. We expect 3000 new  

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members.
There are key strategic pillars whose prudent management will ensure the branch and the organization success. The key pillars are operations, products and services, credit and marketing.
The current environment presents new challenges as it is continuously changing. The benefits that will accrue to the Sacco through implementation of this Strategic Plan will be;
1. Improved financial performance
2. Better service delivery to our customers

3. Good publicity thus improving our image

4. Increase membership at the end of the year.

5. Motivation of the staff and the management team as a result of participation in setting the strategies and implementing them, having clearly set objectives to accomplish them and measurable parameters to monitor performance.

Introduction

Kisumu branch opened its doors to the public on 11th March, 2013.The Branch attracted a number of customers outside the perceived common bond who were very curious to know what we had to offer in terms of services and products. The branch recorded a massive growth in new membership during the first ten months of operation. Kisumu branch is strategically located in Kisumu city along Oginga Odinga Street and serves the entire western Kenya, Nyanza, and part of Rift Valley. The branch is focused on steadily climbing to higher heights.

Key priority areas in the strategic plan that will help us in driving the business include:
a) Business model transformation
b) Business growth and financial sustainability
c) Resources and structures to support the business
d) Appropriate human capital
e) Brand enhancement, marketing and customer service.
Through this plan, we have developed clear action and implementation plan aimed at the attainment of the targets and goals contained in the plan, with special emphasis on the brand and image; customer service through delighting our members; strategic partnerships; governance and management of the branch and innovation. We as Kisumu branch believe that these are the critical factors that will ensure our success.