Tuesday, November 3, 2009

The Credit Unions In Kenya

There are many credit unions in Kenya nowadays. It has not been like that all the time. This is more of a recent phenomenon. The number of the credit unions in Kenya grew significantly in the last 10 years. Right now there are more then 2200 active credit unions in Kenya already. And this number is growing continuously, which is a good thing. The more unions are established the better off will be the Kenya�s financial sector and the country�s financial rating. Out of those 2200 credit unions in Kenya, 1400 share a capital of $450000 and are affiliates of KUSCCO - Kenya Union of Savings and Credit Co-operatives.

The list of services offered by KUSCCO to the credit unions in Kenya includes but is not limited to advocacy, representation, promotion of credit unions in Kenya, risk management, central finance program, training, business development research and consultancy, etc. The mission of KUSCCO is to be the leading provider of quality and diversified financial and technical services to credit unions in Kenya.

The credit unions in Kenya offer many benefits to their clients and members. These benefits come from the products and services offered by these unions: various accounts, financing and loan programs, investing services and many others. By becoming the members of one of the credit unions in Kenya, its members can receive access to these beneficial products and services. The credit unions in Kenya employ financial professionals to provide the highest level of service to its members. Customer service is becoming better and the number of products and services is growing constantly. It order to become a member of one of the credit unions in Kenya, the prospective members will need to contact the union and fill out the membership form, assuming they qualify for membership and agree to the membership terms.

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