About Us

About Us

Rachuonyo East Entrepreneurs SACCO Limited was founded in the year 2018 by a group of registered and non-registered entrepreneurs in Rachuonyo East Sub-County of Homa Bay County. The purpose of setting up the SACCO was to respond to the need for a more tailored finance vehicle that could be in a position to meet the financial needs of the members while providing them with an opportunity to learn and grow in the realm of savings, thrift and ingenuity.

At the start of the SACCO, it had only 22 members who were also the original subscribers to its Constitution as at the time of registration. Within a period of 3 (three) years after the SACCO was registered, the membership had grown up to 500 with a shareholding portfolio rising from Kshs. 30,000 in year 1 (one) to Kshs. 360,000. in year 3 (three). As at today, the 19th April 2024, the SACCO membership stands at 928. active members with shareholding portfolio of Kshs.1,254,500.

Not only has the SACCO witnessed exponential growth in its shareholding portfolio, but also in the members’ savings deposits. Initially at the end of year one (1) of the SACCO’s existence, the SACCO had a total of Kshs. 234,000 in Members’ deposits (savings) and by the end of year three (3) of SACCO’s existence, the savings stood at Kshs. 645,230.. Today, the 19th April 2024, Members’ deposits (savings) has grown to Kshs. 2,068,744.

The loans to members has also been growing steadily starting with a total loan disbursement Kshs. 473,654 in year 3 and Kshs. 3,002,581 as at 19th April 2024. This kind of steady development is not without challenges and uphill drawbacks. Main challenge has been lack of adequate commitment by borrowers to repay their loans and inconsistency with which members’ savings are trooping into the SACCO Account.

However, our main objective of organizing and promoting the welfare and economic interest of our members with a vision to be a leading SACCO in Kenya” through the promotion of a saving culture; providing diverse, competitive and affordable financial services to empower our members who are majorly socially and economically disenfranchised” while upholding the values of teamwork, transparency and accountability, Awareness/Education, Networking/Collaboration and Corporate Social Responsibility has always worked to our advantages, continuously improving and sustaining the members’ confidence in the SACCO and its leadership.

Our robust and clear by-laws and financial [policies] has made the operations of the SACCO to be easily grasped by members while making conflicts resolutions more easier and often reducing occurrences of conflicts that in most cases shuts dreams and aspirations of many SACCOs in Kenya.