Company History

An idea nagged Benjamin Nzioka’s mind. In his own “The idea… was conceived in 1971 when I became concerned…” improving the living standards of his comrades, actualizing their dreams and the opportunity to create employment was a key driving factor in Mr. Nzioka’s idea of a cooperative society. A pioneering committee was composed of: Benjamin K Nzioka of Grind lays Bank internation as the interim Chairman Joseph Githua of Barclays bank of Kenya as the interim Secretary Shem Ogola of Bank of India as the interim Treasurer

The society was registered and by end of year, membership stood at a mere 190 seeing as the young society had faced a tough war at infancy. But a turnaround happened, spurring growth and hope much faster than the stakeholders had anticipated. The first approval and disbursement of loans realized a growth in membership registration.

The Kenya Bankers Society held its first elections in 1978.By the time the
elections came around, Mr. Nzioka was the Chairman of the Kenya Union of Commercial Food & Allied workers Union (KUCFAW), having been elected to the office in 1977. As the Society Act dictates, Mr. Nzioka could not serve two masters. He, therefore, stood down and the delegates elected Mr. Samuel Ouko Mbori as the second National Chairman

The Sacco having been given a nod to commence operations, it started by launching the following products

• Main savings scheme
• Development loan
• Emergence loan
• Additional loan

Special general Meeting

This was the first meeting for members/delegates to elect officials of the society