FINNLEMMNEWS An end to a successful year Members at a past SACCO function www.finnlemm.com Issue 2 • 2019 as seen in the table below, we need to exert ourselves further to make our Sacco financial- ly sustainable and become a top-performing SACCO. ^ Currently, we are a non-deposit-taking SAC- CO Society. The SACCO is registered under the Cooperative Societies Act and supervised by the Commissioner of Cooperatives ^ We purpose to follow the standard set for DT- SACCOs licensed and regulated by SACCO So- cieties Regulatory Authority (SASRA). The next 3 years We have envisioned in the next three years (2020-2023), Finnlemm Sacco will have/be; ^ Mid-Tier II DT-SACCO ^ 4500 active members ^ Kshs 3.6 Billion in the asset base and Kes 391 Million in turnover ^ Kshs 2.7 Billion in loans & advances to members ^ Kshs 2.8 Billion in member deposits Our Strategic Plan areas of focus To achieve our strategic objectives we have out- lined seven critical thematic focus areas: In the coming year the forces and challeng- es facing Finnlemm SACCO will be greater, and the opportunities before us even more rewarding. The key challenges we anticipate to face and overcome are: unemployed youth population, loss of employment, shrinking NGOs, chang- ing technology, increased competition from Fintech, cyber security, government regula- tions/increased regulations, SACCO reputation Through your continued patronage and sup- port, we are confident that in this period we will add yet another chapter to the long story of Finnlemm’s success, and that over the next twelve months, we will be able to further con- solidate our journey towards becoming a top- performing SACCO. ^ A s another successful year comes to an end, we would like to thank you for your support throughout the year 2019 and to extend our best wishes to you and your loved ones in the coming year. Year 2019 has been particularly remarkable for Finnlemm. Even as the dynamics of the eco- nomic environment are changing, our activity level increased significantly as we addressed members key issues and proactively automat- ed our processes and positioned Finnlemm to take advantage of future opportunities. Strategic direction We do acknowledge that despite this growth, 2014 October 2019 Percentage Growth Annual Average growth (KES) Asset Base 1b 1.65b 65% 13% Loan Book 804m 1.2b 49% 9.8% Member Deposits 786m 1.23b 57% 11.4% Revenue 106m 148m 40% 10% Membership Growth & Impact Financial Strength Products & Services Quality Technology Excellence Operational Efficiency & Risk Management Corporate Governance Human Capital Development
Transcript
FINNLEMMNEWSAn end to a successful year
Members at a past SACCO function
www.finnlemm.com
FINNLEMM NEWS • 1
Issue 2 • 2019
as seen in the table below, we need to exert ourselves further to make our Sacco financial-ly sustainable and become a top-performing SACCO.^ Currently, we are a non-deposit-taking SAC-
CO Society. The SACCO is registered under the Cooperative Societies Act and supervised by the Commissioner of Cooperatives^ We purpose to follow the standard set for DT-
SACCOs licensed and regulated by SACCO So-cieties Regulatory Authority (SASRA).
The next 3 yearsWe have envisioned in the next three years (2020-2023), Finnlemm Sacco will have/be;
^ Mid-Tier II DT-SACCO^ 4500 active members^ Kshs 3.6 Billion in the asset base and Kes 391
Million in turnover^ Kshs 2.7 Billion in loans & advances
to members^ Kshs 2.8 Billion in member deposits
Our Strategic Plan areas of focusTo achieve our strategic objectives we have out-lined seven critical thematic focus areas:
In the coming year the forces and challeng-es facing Finnlemm SACCO will be greater, and the opportunities before us even more rewarding.
The key challenges we anticipate to face and overcome are: unemployed youth population, loss of employment, shrinking NGOs, chang-ing technology, increased competition from Fintech, cyber security, government regula-tions/increased regulations, SACCO reputation
Through your continued patronage and sup-port, we are confident that in this period we will add yet another chapter to the long story of Finnlemm’s success, and that over the next twelve months, we will be able to further con-solidate our journey towards becoming a top-performing SACCO. ̂
A s another successful year comes to an end, we would like to thank you for your support throughout the year 2019 and
to extend our best wishes to you and your loved ones in the coming year.
Year 2019 has been particularly remarkable for Finnlemm. Even as the dynamics of the eco-nomic environment are changing, our activity level increased significantly as we addressed members key issues and proactively automat-ed our processes and positioned Finnlemm to take advantage of future opportunities.
Strategic directionWe do acknowledge that despite this growth,
2014 October 2019 Percentage Growth
Annual Average growth(KES)
Asset Base 1b 1.65b 65% 13%Loan Book 804m 1.2b 49% 9.8%Member Deposits 786m 1.23b 57% 11.4%Revenue 106m 148m 40% 10%
Membership Growth & Impact
Financial Strength
Products & Services Quality
Technology Excellence
Operational Efficiency & Risk
ManagementCorporate
Governance
Human Capital Development
FINNLEMM NEWS • 2
Divine Mercy Children’s Home says thank youT hank you for joining and supporting us
in carrying out this year’s CSR initia-tive at Divine Mercy Children’s Home.
The home is located in Uthiru-Gachagini, next to St. Stephen’s Catholic Church and houses 20 children aged between 2-22 years.
In addition to delivering donations that were received from you during the Family Fun Day (clothes, shoes and dry foodstuff), we as a Sacco focused on creating a lasting
and long-term impact to the home.We identified major areas of intervention
and did the following:^ Constructed a mabati kitchen with a stor-
age area ^ Bought kitchen utensils ^ Added them beds and beddings ^ Repaired toilet and bathroom facilities
We will be sharing a link to a YouTube video clip showing more on the initiative. ̂
www.finnlemm.com
SACCO UPDATES & UPCOMING ACTIVITIES
Have you declared your beneficiaries to be covered by the Benevolent Fund?
I n response to feedback from members, the product has now been enhanced to cover the principal member plus any
five (5) declared beneficiaries at the same cost of Kes. 300 per month.
Benefit: Kes 100,000 per personTerms & conditions: Monthly contri-
bution Kes. 300 covering Principal mem-ber plus five (5) other family members
Members can declare as many benefi-ciaries as they want at a cost of Kes. 600 per annum for every additional person.
Additional beneficiaries must be nomi-nated for at least a period of one (1) month before a claim can be made.
Requirements: Duly filled benevolent form for additional beneficiaries to be sub-mited on or before December 31, 2019.
5+1The number of beneficiaries that can be covered by the benevolent fund. Plus the
principal member.
www.finnlemm.com
PICTOGRAPHIC
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On 17th August 2019, we gathered for the members family fun day and what an exciting day it was. The day was fun filled with lots of laughter and activities for both members and their families.
The photos represented here are just but a drop in the ocean of what took place.
www.finnlemm.com
PICTOGRAPHIC
FINNLEMM NEWS • 4
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www.finnlemm.com
SACCO UPDATES & UPCOMING ACTIVITIES
Finnpesa limit increased to KES 50,000
Finnlemm flexi deposit account: get your interest at competitive rates
You can now access FinnPesa Loan to a limit of Kes. 50, 000 repayable in a maxi-mum period of 3 months. Pay your mobile loan early to enjoy the increased limit.
T his facility allows members to save mon-ey for a minimum period of 3 months at competitive rates of interest.
Features1. Minimum amount one can fix is
KES. 10,0002. No maximum investment limit3. Principal and interest is paid upon maturity4. Automatic roll over is allowed5. No monthly fees charged
FINNLEMM NEWS • 5Share your views, stories and advertisements to be featured in the subsequent newsletters.
GET IN TOUCHCustomer Service +254 20 760 2880/1Credit and Loan processing +254 20 760 2882/3/8Marketing and Communication +254 20 760 2891ICT desk and FinnPesa inquiries +254 20 760 2886, +254 713 129 955Finance and Accounts +254 20 760 2884/5
CALL TO ACTION
^ Visit our website for regularly updated information on our products and services
^ Earn Kes. 500 for each new member you recruit to the Sacco
AT A GLANCESelect services now available via the Mobile AppVarious services are now available on our mobile App. Non-FinnPesa users are encouraged to regis-ter to enjoy this fast and convenient service.
Download link https://play.google.com/store/apps/details?id=com.coretec.msacco&hl=en
