OUR MISSION

"The objective for which the Society is established is to promote thrift among members. This is achieved by affording members an opportunity for accumulating their savings hence creating a source of funds from which loans can be made to them exclusively, for provident and productive purposes, at a fair and reasonable rate of interest. It is a member based society, which enables members to use and control their money for their mutual benefit."

OUR HISTORY

SAWA Savings & Credit Cooperative Society was registered in June, 1983 and had an initial membership of 62. The membership was initially drawn from ICEA staff only. Currently it includes related companies under First Chartered Securities Limited (FCS Head Office, Knight Frank Kenya, ICEA LION GROUP, Riverside Park, Auto Sterile EA Limited and Kahuho Holdings Limited). The total membership as at 31st December, 2021 is 458.

GROWTH

The Society has registered gradual, but significant growth since inception. The deposits have increased from about Kshs. 50,000/= in 1983 to over Kshs. 304,897,995 Million as at 31st December 2021.

OBJECTIVES

The objectives for which the society was established are:
  • To offer members complementary savings and credit services for purposes of providence and production and other financial products as may be required by members from time to time.
  • To ensure safety and soundness of members' funds through a risk management programme or appropriate insurance cover.
  • To ensure the progress of its members by educating them continuously on the proper use of credit.
  • To provide an opportunity or platform for each of it's members to improve their respective economic and social conditions
  • To perform the functions and exercise the powers designated for savings and credit Co-operative Societies under the applicable law for the benefit of the members.
  • To promote the welfare and economic interest of members.
  • To provide an investment opportunity
  • To create a source of funds at a fair, affordable and reasonable rate of interest.
  • To satisfy the members needs effectively and efficiently.
  • To actively enhance the granting of loans to members
  • To be the most efficient Co-operative in our sector