AIBK SACCO Ltd

We are a saving and Credit Cooperative Society formed by members of the Association of Insurance Brokers of Kenya. The noble and dynamic idea to start up a SACCO was conceived by AIBK board, and through its blessings, the management committee was initiated and directed for sometime by the technical sub-committee under the convenorship of Mr. Gideon Mugunyu. Through the positive support of the then AIBK Chairperson, Ms Anne Rama, AIBK SACCO LTD was officially launched on 15 November 2003 at the college of Insurance – Nairobi.

Enrolment of members began in the year 2004 and loaning started in 2005 after funds had been accumulated for a while. There has been continued growth in membership and performance of the SACCO from very humble beginning to be able to declare their first dividend during the financial year 2007.

All the activities of the SACCO are coordinated at the secretariat where all records are kept & transactions dealt with from. The secretariat ensures that members’ personal accounts & statements are updated and loanees are informed about progress of their applications promptly.

Objectives

• Promoting thrift among its members
• Encourage savings and advancing loans to members as appropriate for their providence and productive purpose
• Creating source of funds in terms of shares, deposits and loans for benefit of its members
• Maintenance of healthy liquidity position to finance operations
• Carry out investments which increase surplus of the society