Bandari Sacco has urged its members to find other alternative means of income to cushion themselves during these current economic turbulent times.
Assuring the members of the society’s commitment to seeing them elevated to levels of growth and profitability, Bandari Sacco’s CEO, Mr. Joseph Bee, during members’ education day on October said the Sacco’s objective was to help members grow thus the continuous financial literacy and education among Sacco members to assist them make sound financial decisions.
“We will continuously teach and train you on matters money and investment, equipping you with information and knowledge that aid in the growth of your money,” said Mr. Bee.
The CEO further discouraged the members from taking loans that overwhelm and significantly impact on their savings affecting their financial strength, but instead advised them to look for alternative ways of compensating their salaries.
However, he revealed that Sacco systems and procedures for loan acquisition were structured to favor members’ urgency and need for loans.
“You can now guarantee yourself when requesting for a loan. Our loans are processed and approved immediately. We have systems and procedures in place to make sure members access funds whenever they need them,” stated the CEO.
Additionally, he said his office, the board and the delegates were closely working together to continuously innovate and improve products and services to address members’ needs to ensure success.
Echoing CEO’s sentiments, Mr. Nelson Nyoro, Mombasa County Director for Cooperatives, speaking to the members said, to improve lives, Sacco products must be convenient, easily accessible and confidential.
Applauding Bandari Sacco for its creative and innovative products, the Director said Sacco products should help members meet their basic needs that lead to financial freedom and happiness.
To reach ones’ goals and be successful, however, he encouraged members to set clear and specific goals while patronizing Sacco’s products, foster financial discipline, build a saving culture and to always stay focused while working to meet objectives.
Addressing young Bandari Sacco members Nyoro advised, “Your competitive advantage is time. Live within your means, identify right mentors to hold your hands, start investing early, learn from others’ experiences and seize available opportunities to grow your revenue streams.”
He championed the significance of planning and organizing ones’ money, building consensus and managing household incomes if members are to cope with the rising cost of living.
Also, Mr. Nyoro urged Bandari Sacco’s members to train their children early on how to earn and save money, teaching them how to set priorities, being role models as they inspire them to become the best version of themselves, stressing it is in families that children acquire money habits first.
To realize financial freedom, Dr. Ng’ang’a Gachara, financial and strategy consultant at Strategic Fluent Analytica (SFA) hinted that one should always have a well thought out investment vehicle that is working towards achieving.
“Track your net worth. Write down your plan and track its implementation with accountability,” Dr. Gachara urged.
To be productive and enhance growth, he encouraged Bandari Sacco members to effectively make good use of time, innovatively striking a balance between change and time while building relations that are beneficial.
“You cannot keep control of your time unless you can say ‘no’ to distractions, picking associates whose behaviors and actions gradually propel you towards growth and profitability,” he emphasized.
Working closely with the Sacco, he encouraged members to fully exploit the society’s products carefully designed to elevate member’s social and economic lives.
Through staying focused and building resilience while being obsessed with personal growth that leads to wealth creation, Dr. Gachara commended Bandari Sacco’s commitment to equip members with skills and knowledge to manage ones’ financial resources effectively for lifetime financial security.
Bandari DT Sacco has a membership of over 26,000 people with a growing asset base of Ksh. 13 billion and has opened its doors to the public and business men and women looking to invest and build wealth to join the giant Sacco whose core aspiration is to empower members to succeed.
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