Members of the Metropolitan National Sacco Ltd. have reason to smile as the Sacco implements a raft of changes making services better.
Among the improvements in service is the launch of mobile banking system where clients access Sacco services using USSD code *268#. Also the Sacco increased its business operating hours to between 8:30 am to 4:00 pm on weekdays and 8:30 am to 12 noon for Saturdays.
Digitalization of services is part of the second transformation strategy that was ratified at the Annual General Meeting (AGM) in 2019.
“Following the approval of the transformation strategy at the 2019 Annual General Meeting (AGM). We are now embarking on phase two which will involve leveraging on technology to improve on service delivery, rolling out of new products and launching an online banking platform,” Metropolitan National Sacco CEO Benson Mwangi said.
The Sacco whose membership has risen to over one hundred (100) thousand from the entire country started 43 years ago as teachers-only, expanded in 2008 to accept members from outside this original pool. Now the members are not only drawn from Teachers Service Commission (TSC), but also, Government Ministries, Parastatals, Kenya Defence Forces (KDF), National Police Service, Public and Private Universities, Colleges, Academies and the private sector among others.
“We have recruited an additional 167 new members and received 2070 membership reinstatements from the previous period. In that period, we have also seen a rise in the number of members wishing to reverse their earlier requests to withdraw their membership”, Mwangi added.
The Sacco, which started as a Teachers’’ only savings group is planning to launch an online banking platform.
The changes at deposit-taking Metropolitan Sacco’s strategy are anchored on diversification, customer service excellence and development of new products.
The new technology-driven strategy has even reduced the Sacco’s costs of doing business.
“The operational efficiency initiatives resulted in an overall cost reduction of Sh96 million, mainly driven by savings in financial and administrative expenses which were further powered by enhanced uptake of digital service delivery channels,” the CEO said
Launch of m–metro cash
TheSacco also launched M-Metro Cash, a Mobile banking solution service where the Sacco members can undertake transactions at their convenience on the palm of their hands.