Orient Sacco is the brain child of development conscious leaders, whom, in an effort to bring services closer to the people, mooted the idea of a new Sacco on the creation of Thika administrative District in 1994. Orient Sacco was registered on 21st January 1997 Under the Name Thika District Teachers Sacco and started its operation in April 1997 with a membership of 598. A need for a FOSA (Front Office Services Activity) was necessitated by growth in membership and need for banking services, which was prompted by the contemptuous treatment given to teachers by Commercial Banks at that time.However Under the Co-operative Societies Act and the Co-operative Societies rules, Cap 490, with the sanction of a special Resolution by the Society’s Management Board The Society Changed its name From Thika District Teachers Sacco To Orient Sacco Society Limited on 11th January 2013.
Governance of the Sacco
Orient Sacco is a members driven organization. The members elect delegates to monitor the Sacco management and they elect a Board of Directors to oversee the overall management of the Sacco. A supervisory board also is elected to provide oversight.
Since inception, the Society is marked with several key milestones which include facilitating economic growth of our members through availing cheap credit and an increase in savings. Therefore, the Society has made remarkable improvement and has grown and progressed from strength to strength in aspects of membership, share capital and services delivery to our members
The core business of the society is to mobilize savings from members and thereafter on lend the same to members at affordable interest rates. Society Members are mainly drawn from teaching fraternity,T.S.C employees,employees of teachers related Organizations however In order to achieve a solid base for growth, Orient Sacco opened its common bond to other organizations, business people and any other persons approved by the board. The society has enjoyed tremendous success such that as at 31st December 2012 it had over 5,000 members.
“To be the leading and most reliable financial partner”
“To mobilize funds to offer timely and competitive financial services to our customers in order to uplift their socio-economic status”
– Customer Friendly financial partner