About CRDB Workers SACCOS
Empowering financial freedom through savings, wise borrowing, and sustainable development since 1986
Building Financial Freedom Together
CRDB Workers SACCOS (Saving and Credit Cooperative Society) Ltd was registered in December 1986 with Registration no 5410, with a common bond of "being an employee of CRDB Bank Limited"; and with a total of 166 founding members. As the CRDB Bank has changed form and expanded through its subsidiaries – the common bond is now "employee of CRDB Bank PLC,its subsidiaries, retirees and CRDB Workers SACCOS staff " to be referred as the "Bank".
Since then, the SACCOS has grown to 1,630 members – 41% of the number of staff of the Bank, as the end of December 2023. However, the objective of CRDB Workers SACCOS Ltd is to mobilize all employees of the Bank to become members of the SACCOS and instilling adequate saving and borrowing culture for their economic development.
Our Evolution & Future Direction
Based on previous reviews, the mission of CRDB Workers SACCOS Limited was "to provide effective value-added microfinance services, in promoting adequacy savings, wise borrowing and prudent utilization of funds to attain sustainable development and financial freedom among members".
The vision of the SACCOS was "to become the preferred, unique leading SACCOS model, providing competitive and reliable financial services to members". However based on the development of this strategy, the mission and vision of the SACCOS have been reviewed to reflect its new strategic focus for the next five years.
SACCOS Cultural Values
These values shape our conduct when dealing with stakeholders
Customer Centric
Prioritizing customer needs and satisfaction in all operations and decisions.
Unity and Solidarity
Working together with mutual support and common purpose for collective benefit.
Professional Integrity
Maintaining high ethical standards and honesty in all professional activities.
Value Based
Ensuring all actions and decisions create meaningful value for stakeholders.
Accountability
Taking responsibility for actions and decisions with transparency.
Prudence
Exercising careful judgment and wisdom in financial and operational decisions.
CUP-VAP
Our values form the acronym CUP-VAP, representing our commitment to Customer-centricity, Unity, Professional integrity, Value-based operations, Accountability, and Prudence.
Mission Statement
"To provide effective value-added microfinance services, in promoting adequacy savings, wise borrowing and prudently utilization of funds to attain sustainable development and financial freedom among members."
Therefore, the core reasons for the existence of CRDB Workers SACCOS are:
Promoting savings
Providing convenient saving/deposit avenues for members to build their own personal resources through their SACCOS and mobilizing its own internal fund as a cheap source of financial resources.
Encouraging wise borrowing
Providing conducive environment to its members to borrow, but inculcating the culture of borrowing wisely, i.e. borrowing for productive purposes.
Prudent utilization of funds
Ensuring the Board and Management safeguards the funds of the SACCOS for the benefits of its members.
Ensuring prosperity
Ultimately, the mission of the SACCOS is to ensure its members are prospering economically and achieving financial freedom.
Vision Statement
"To become the preferred, unique leading SACCOS model, providing competitive and reliable financial services to members."
This is the statement of what CRDB Workers SACCOS is striving to become. Going through the statement, the SACCOS wants to:
Institution of choice
Become an institution of choice by its members.
Modern and unique institution
Become a modern and unique institution for other SACCOS to learn from in the industry.
Competitive services
Providing competitive and reliable financial services to members as compared to other providers.