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As the Chairman of CIC SACCO, I welcome you to our sacco.  At CIC SACCO the economic growth and empowerment of our members is our chief mandate.

Since its inception, the society membership has grown from 70 to over 500 in 2012. The growth of the society has also been experienced in growth of other  such as loans and annual turnover.

The membership is drawn mainly from CIC employees, insurance agents both from general business and life department and also so of those who have an interest in the company such as service providers.

CIC Co-operative Savings and Credit Society Limited (Sacco) was started and registered as a savings and credit society in 1992 after separating from Kilele Sacco. The society had an objective of providing a mechanism for CIC Insurance employees to save and borrow at a low cost in order to meet the employees’ social economic needs.

The total loans to members as at now stands at Kshs. 67,552,197.25, while the share capital stood at over Kshs. 500,000.00 in 2010.

The Sacco derives its mandate from the cooperative Act 2004 and the revised Act of 2008 and its by-laws. The affairs of the Sacco are directed by a rich diverse Board of Directors (BOD) as provided by the by-laws and overseen by the supervisory committee with both reporting to the annual general meeting.

The BOD has a number of committees including:  The Executive, Credit, Education, and Supervisory while the day to day operations of the society are carried out by the Sacco manager.

In addition to the range of financial products and services, CIC Sacco provides its members with the convenience of a number of additional services. These services include: Savings, Lending, Loans, Bosa among others.

In conclusion, I take this opportunity to thank all our members for the continued support especially in helping us grow and putting us on the frontline, we shall continue to strive in increasing access to financial and welfare services to you members.

Thank You.

Stanley Kitur - SACCO Chairman