BY MERCY KIHUGU

In the heart of Nakuru, a vision was born by a group of 46 dedicated teachers united by a common dream to empower their community with financial stability.

This is how Cosmopolitan DT Sacco Society Ltd formerly Nakuru Teachers Sacco came into existence in 1977.

As the years rolled by, the Sacco evolved, welcoming members from all walks of life in 2012 by opening the common bond which saw other professions, business people and members of the public joining the Sacco.

In keeping up with the Sacco’s demands and ever-increasing members, the Sacco also rebranded in 2012.

Cosmopolitan DT Sacco society ltd is regulated by Sacco Society Regulation Authority (SASRA).

This saw the doors open wider, embracing business owners and the public alike. This transformation not only swelled the ranks but also ignited a need for expansion.

Today, under the leadership of the Chairman Mr John Rukwaro and the CEO, Elizabeth Njoroge, Cosmopolitan Sacco stands tall with a network of five branches in Nakuru, Bahati, Molo, Naivasha, and Narok.

CEO Cosmopolitan Sacco Elizabeth Njoroge at her office in Nakuru City.

Photo credit: BRET SANYA/MTAA WANGU

Three satellite offices in Subukia, Mwisho wa Lami, and Gilgil, provide convenience to the ever-growing membership with plans to have its presence felt far and wide.

Ms Njoroge notes that the Sacco's unwavering commitment remains to nurture thrift among members, fostering savings and enabling affordable and accessible borrowing opportunities.

This has fueled economic and social empowerment for over 34,000 members and the broader public.

"Our determination has led to an increase in assets reaching Sh 9.6 billion, with a vision to cross the Sh 10 billion mark by the end of the year. Cosmopolitan DT Sacco is poised for greatness," Ms. Njoroge reveals.

Embracing technology, the Sacco offers mobile banking services through USSD codes *882#, and *645#, and the MCosmo app, ensuring members can transact securely from their mobile phones, wherever they are.

This has enabled members to save time and allows them to bank remotely, from any corner of the world.

Ms Njoroge adds that the company has ensured that they have tailor-made their products to suit all the member's needs depending on their financial muscle.

Additionally, the Sacco offers competitive loan rates to the customers where they closed the last financial year for dividend on share capital at 15 percent, and interest on deposit at a rate of 12 percent.

Joseph Wandaka, owner of Aberdare scrap metal, has journeyed with Cosmopolitan DT Sacco since 2012.

Wandaka says he appreciates the journey he has had with the Sacco noting his financial prospects have grown significantly over time.

Joseph Wandaka, a customer at Cosmopolitan Sacco explains his scrap metal business at his workshop in Nakuru.

Photo credit: BRET SANYA/MTAA WANGU

"After saving enough money I started by borrowing a Sh 3 million loan. My success story has grown to a remarkable Sh 16 million loan record, with no limits in sight," Wandaka says.

With the support he has received, he has been able to open 26 branches, providing jobs for over 30 young men and women.

In challenging times, Cosmopolitan DT Sacco stands by its members, offering flexible loan payment plans to cushion businesses.

Visit https://cosmopolitansacco.com/ to get more information about Cosmopolitan Sacco.

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