Urithi Premier Sacco Rebrands in journey for better and personalised services

Urithi Premier Sacco on Friday rebranded and changed its name to Anchor Premier Sacco in a Special General Meeting held in Thika.

While addressing members, Chairman Pius Thuku Ndung’u said part of the rebranding was to help people to differentiate between the Sacco and Urithi Housing Cooperative, which were two distinct entities.

Ndung’u said that the change of name was also dictated by massive withdrawals following challenges emanating from the conflict of issues resulting from their relationship with Urithi Housing Cooperative Society and also lack of available investment options.

“So many people fail to understand that the two are different companies with very distinct functions and management. Ours is a Sacco whose functions are limited to just savings and giving out loans to its members. It is not an investment company,” he explained.

The members gave the management the go ahead to start an investment arm under the Sacco to help them boost their income.

“To be a shareholder in this new company, one must buy at least 10 shares at a cost of Sh. 1,000 per share,” said Ndung’u.

The company’s board will be constituted of four Sacco Board members and 3 others drawn from ordinary members, renewable every three years.

“To qualify to sit in the board of this company, we are proposing that one must have a minimum of 1000 shares so that only those with a stake in the company will qualify to manage its affairs,” he said.

He assured members that the Sacco was very stable financially and efforts were being made to improve service delivery.