Police Sacco, Standard Group complete one roadshow in Nairobi

Kenya National Police Deposit Taking Sacco and Standard Group PLC have completed a one-month brand visibility campaign in Nairobi.

The campaign, which ended with a second one-day roadshow, started at Standard Group offices along Mombasa Road.

The roadshow saw the caravan traverse Eastlands, pass Cabanas and the Taj Mall roundabout, with stops at Pipeline stage along Outering Road, Donholm and Kariobangi roundabouts.

From there, it proceeded to Allsops, along Thika Superhighway, then Westlands, Kangemi, Dagoretti Corner, Madaraka and Ngong Road, before ending at Nyayo Stadium.

The one-month partnership has seen the Sacco leverage the company’s platforms, including sister radio station Radio Maisha, KTN TV and Standard Digital, to increase its visibility and create awareness about the Sacco’s products and services.

Simon Tanui, General Manager in charge of Operations and Strategy at the Sacco, welcomed the partnership, saying it has borne fruits.

“We are happy to have partnered with Standard Group through this roadshow that we have had, and we chose this because we wanted to increase our brand visibility across our country. I am happy that as it comes to an end, we want to appreciate that it has been very good,” said Tanui during a stop at the Sacco headquarters in Ngara, Nairobi.

He added: “We have been able to get new members from as far as Mombasa and register close to 30 members. I am sure even today we are going to get good feedback by the end of the day, and the visibility that we have been able to get across Mombasa and coming this way up to Nairobi is just great.”

He said the Sacco was registered way back in 1972 with around 690 members, and today it has eight branches, including in Mombasa, Nyeri, Kakamega, Nakuru, Eldoret and Meru, with over 76,000 members and an asset base of over Sh60 billion.

“We are the third-largest Sacco in Kenya in terms of asset size under management, and we pride ourselves, with a lot of humility, that we have been the leading Sacco in Kenya for the last five years,” added Tanui.

He said that although the Sacco was started by police officers, it has grown and now allows all members of the public to join.

“So each one of us across our country is eligible to be a member of Kenya National Police DT Sacco. We have good products for members, and for those who join, we have very good loan products, with our loan interest rates as low as 1 per cent per month,” said Tanui.

He added: “In terms of dividends, we pride ourselves on giving members a dividend rate of 17 per cent over the years, with interest on deposits at 11 per cent.”

The General Manager also said they pride themselves on having many products in terms of loans, with repayment periods of up to 108 months.

Tanui urged the public across the country to consider joining the police Sacco to benefit immensely from its saving products.
For instance, members who save are able to borrow loans five times the amount saved after six months of membership.

He said they have also embraced robust technology, enabling members to access loans and their money through Front Office Service Activity (FOSA) using a mobile platform called M-Tawi.

According to Bill Martin, Assistant Marketing Manager who accompanied the roadshow, the initiative is a result of a partnership started early this month when KTN TV station began celebrating its 35 years of existence.

“The idea was floated at a gala dinner held towards the end of October, where they invited us, and we decided to give it a try after they assured us that once we did it, we would achieve great publicity, thanks to their various products,” said Martin.

He said the first roadshow happened in Mombasa on Thursday, and today’s roadshow saw the public gifted caps, umbrellas, water bottles, pens and other merchandise.

Martin said the minimum savings is Sh2,350 per month, where Sh440 goes to an insurance cover called the Utumishi Benevolent Fund (UBF), through which, when a member dies, Sh70,000 is paid to their family, Sh40,000 for a spouse, and Sh30,000 for a child.

“Over and above that, we double savings, so if a member had Sh1 million at the time of death, we double that to Sh2 million, and if he or she had any loan or liability, we write it off,” said Martin.

He said the Sacco has also partnered with the Kenya Mortgage Refinance Company (KMRC) for mortgages at 9 per cent per annum for 25 years, and has a subsidiary, Kenya Police Investment, which owns several serviced land properties sold to members at subsidised rates.