Bandari Sacco partners with ABC Bank for improved services
Savings and credit cooperatives (Saccos) have been urged to enroll in partnerships with ABC Bank that will enable, among other benefits, for their members to be issued with checkbooks for easy banking.
ABC Bank General Manager Peter Kinyanjui, while speaking at an event where his bank partnered with Bandari Sacco, stressed that such partnerships will help customers work in an ideal business environment
“This partnership will enable all Bandari Sacco members to issue co-branded cheques for payment and settlements at any commercial bank in Kenya. It will also enable members to deposit cheques drawn on any commercial bank in Kenya directly into their Bandari Sacco accounts,” he said.
He said that the cheque clearing solutions open doors to all other financial and business opportunities to the estimated 17000 Bandari Sacco members.
Bandari Sacco’s top leadership also said the partnership was a significant milestone to see members engage directly with the national payments system.
“This amplifies the board’s commitment to providing more relevant financial services to small and medium enterprises who are the key drivers of the economy.”
ABC bank enters a list of financial institutions that have partnered with Saccos to provide services.
The bank has enabled Saccos to extend more critical financial services to its members across the country.
According to ABC bank, there is a need to drive financial inclusion to the masses to ensure that every individual has access to affordable banking and financial services.
“This is a key Environmental, Social and Corporate Governance (ESG) goal for the Kenyan Government, the Central Bank of Kenya, Development Financial Institutions (DFIs) and their financial partners,” the bank said in a statement.